Older adults are especially at risk for fraud and scams. Get the tools you need to plan for your future and help your loved ones do the same.
Older adults lose about $28.3 billion each year to financial abuse. They are often prime targets and continue to report higher individual dollar losses than younger adults do.
Perpetrators can be anyone, including caretakers, lawyers, business associates, new friends and even family members.
Learn more to help us protect you or a loved one from fraud and scams and how a financial care plan can help you stay in control of your future.
Scammers may pose as technical support representatives to gain access to the target's computer. If successful, they may request payment, install harmful software, change settings or steal their financial information.
TIP: Never give anyone remote access to your computer unless you can 100% verify who they are.
Scammers pretending to be from banks, government agencies or other known companies ask you to send money via gift cards, wire transfers, cryptocurrency or digital payment platforms like Zelle ® . Because the money is sent quickly, you may not be able to get it back.
TIP: Be cautious if you're told to take action right away. Think about what they're asking for and verify that they are who they say they are.
Scammers can create fake profiles using online dating sites, apps and social media. Once they gain your trust, they ask for money for an emergency, hospital bill or travel. They may even ask you to invest in something they say has a guaranteed return such as a cryptocurrency investment. To demonstrate the returns on investment, you’re directed to websites that appear authentic but are instead controlled by the scammer.
They adjust their story to what they think will work in each situation but most often they can’t meet you in person.
TIP: Never send money to anyone you have only spoken to online or by phone. Be extremely cautious if you're asked for money from someone who professes their love almost immediately. And do your research before you invest in anything. If it sounds too good to be true then it most likely is.
Watch for sudden, unexpected requests for money from grandchildren or other loved ones. They may say that they've lost their wallet or are in another urgent financial situation, and need money sent to them immediately.
TIP: Don't send money when pressured. Call family members directly to make sure they're not in trouble.
Look out for sudden messages claiming that you've won a large sum of money and need to send payments for fees or taxes in order to claim it.
TIP: Do not send money to claim a prize. Chances are it's a scam.
Scammers are taking checks from the mail and rewriting them for a higher amount with a new payee or using your personal information to create counterfeit checks.
Knowing the techniques scammers use can help you stay one step ahead of them. Explore their tricks and learn how to help protect yourself.
Older adults are especially at risk for financial abuse, especially by those close to them. You can help prevent this type of abuse by keeping an eye out for a few red flags.
Often, bad actors will first build a trusting relationship with the target and then try to get them to invest money in things like stocks, cryptocurrency and real estate. Be wary of new friends recommending an investment and anyone who attempts to access financial information, especially from newer friends, aides or companions.
Signs that could point to financial abuse include unpaid bills, missing checkbooks, suspicious signatures, missing valuables and adding unexpected authorized users to financial accounts. For any of these, contact your financial institution right away.
Sudden changes in a person’s will, estate plan or power of attorney can sometimes indicate financial abuse. If you notice changes like this, it's important to have the conversation about signs of financial abuse and offer them help if needed to report it.
Make a financial care plan to help protect your money from fraud and exploitation, so you can have peace of mind if something unexpected arises.
See the Financial Caregiving Guide
Finalize and organize documents like your will, power of attorney, bank statements and insurance so they’re on hand if you’re making a financial plan or if you need help.
Share your financial goals, plans and preparations with family and/or trusted friends to help you stay in control of your money and your future.
Build a team of family, friends, accountants, lawyers and social workers who can help support your future plans. You can also designate trusted contacts for your investment accounts in case you can't be reached or your financial professional has concerns.
At Chase, you have access to J.P. Morgan Wealth Management advisors who can help determine if your plans are on track. We offer a range of services to support you as your financial needs evolve over time.
Set up alerts to easily monitor account activity. You can customize the alerts you want to receive and set up an alert that lets you know when there is a purchase or withdrawal from your account over an amount you think is unusual.
Side 1 of 2Set up alerts to easily monitor account activity. You can customize the alerts you want to receive and set up an alert that lets you know when there is a purchase or withdrawal from your account over an amount you think is unusual.
Side 1 of 2Shred sensitive documents as soon as you are done with them. You can also switch to paperless communications to help avoid becoming a victim of identity theft.
Side 1 of 2Shred sensitive documents as soon as you are done with them. You can also switch to paperless communications to help avoid becoming a victim of identity theft.
Side 1 of 2Online banking on chase.com or in the Chase Mobile ® app is an easy and secure way to access your accounts and keep an eye out for suspicious activity.
Side 1 of 2Online banking on chase.com or in the Chase Mobile ® app is an easy and secure way to access your accounts and keep an eye out for suspicious activity.
TIP: Use online banking and mobile banking apps to view statements, check balances, pay bills and more.
Call 1-877-908-3360 to be connected to trained fraud specialists and volunteers, or get more fraud and scam prevention resources at their website.
Side 1 of 2Call 1-877-908-3360 to be connected to trained fraud specialists and volunteers, or get more fraud and scam prevention resources at their website.
Side 1 of 2Get connected to services for older adults and their families (like health, housing, insurance and more) at this government resource. You can also speak with their specialists on the phone at 1-800-677-1116 .
Side 1 of 2Get connected to services for older adults and their families (like health, housing, insurance and more) at this government resource. You can also speak with their specialists on the phone at 1-800-677-1116 .
Side 1 of 2Call 1-833-FRAUD-11 (1-833-372-8311) , a free resource created by the U.S. Department of Justice (DOJ).
Side 1 of 2Call 1-833-FRAUD-11 (1-833-372-8311) , a free resource created by the U.S. Department of Justice (DOJ).
Get tools like Managing Someone Else's Money at this government agency that protects consumers in the financial marketplace.
Explore essential tools for investors at the Financial Industry Regulatory Authority, a nonprofit organization that works under the supervision of the SEC.
Find resources like Safe Banking for Seniors at this division of the American Bankers Association, which offers tools and resources for both banks and consumers.
Get the tools to make informed decisions about companies and investment professionals at the Securities and Exchange Commission, a U.S. government oversight agency that helps protect investors and promote fairness in the securities market.
This resource serves as a forum for sharing information, solving problems and improving the quality of services for victims of elder and vulnerable adult mistreatment.
Find a comprehensive list of financial scams at this government agency that helps protect consumers from deceptive or fraudulent practices.
Get help with fraud and scam prevention at this branch of the U.S. Department of Justice that's dedicated to combating elder abuse, neglect and financial fraud and scams that target our nation's older adults.
Find information on government agencies, laws and other resources for your state.
Explore a guide for keeping your money safe as you age. The Thinking Ahead Roadmap will help you protect your money from scams, exploitation and costly financial mistakes by choosing someone you trust to be your financial advocate.
If you see an unauthorized charge or believe your account was compromised, let us know right away. Learn what to do and how to contact us.
Scammers spend their days coming up with new ways to trick us. Learn what to watch out for to help keep yourself safe.
If you see an unauthorized charge or believe your account was compromised, let us know right away. Learn what to do and how to contact us.
We're working to make your banking safer. See how we're helping to protect you and your accounts.
Learn safety practices and the steps you can take to help protect yourself from fraud and scams.
How can I help my loved one financially prepare for the future?
Making a clear plan can help give you and your loved one peace of mind. Start by finding and organizing important documents, like wills, power of attorney, beneficiaries, tax records, insurance and asset information. You can also seek guidance from a tax and legal professional, as well as your Chase banker or J.P. Morgan advisor.
Why do scammers target older adults?
Older adults often have several qualities that scammers look for: They may have less familiarity with cybersecurity, but more willingness to pick up the phone or answer an email from a stranger — and most importantly, they often have money saved up in the bank.
How do I know if that’s really Chase calling me?
The most effective way to be sure is to hang up and call back using the number on the back of your card or account statement.
Enrollment in Zelle ® with a U.S. checking or savings account is required to use the service. Chase customers must use an eligible Chase consumer or business checking account, which may have its own account fees. Consult your account agreement. To send money to or receive money from a small business, both parties must be enrolled with Zelle ® directly through their financial institution’s online or mobile app experience. Funds are typically made available in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle ® (go to enroll.zellepay.com to view participating banks). Select transactions could take up to 3 business days. Enroll on the Chase Mobile ® app or Chase Online℠. Limitations may apply. Message and data rates may apply.
Zelle ® is intended for payments to recipients you know and trust and is not intended for the purchase of goods from retailers, online marketplaces or through social media posts. Neither Zelle ® nor Chase provide protection if you make a purchase of goods using Zelle ® and then do not receive them or receive them damaged or not as described or expected. In case of errors or questions about your electronic funds transfers, including information on reimbursement for fraudulent Zelle ® payments, see your account agreement. Neither Chase nor Zelle ® offers reimbursement for authorized payments you make using Zelle ® , except for a limited reimbursement program that applies for certain imposter scams where you sent money with Zelle ® . This reimbursement program is not required by law and may be modified or discontinued at any time.
Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
Account Alerts: There is no charge from Chase, but message and data rates may apply. Delivery of alerts may be delayed for various reasons, including service outages affecting your phone, wireless or internet provider; technology failures; and system capacity limitations. Any time you review your balance, keep in mind it may not reflect all transactions including recent debit card transactions or checks you have written.
Chase Mobile ® app is available for select mobile devices. Message and data rates may apply.
J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.
INVESTMENT AND INSURANCE PRODUCTS ARE:
