Romance Scams That Target Older Adults Rising: What to Do

Here are some tips to help you avoid falling for a scam, especially when a scammer tries to prey on your affection.

An older man looks uncertain as he looks at his smartphone while sitting next to his desk.
(Image credit: Getty Images)

Love can make you do some pretty crazy things. At least that’s how the saying goes, right?

Well, now scammers are capitalizing on that by trying to use love to get their hands on cold, hard cash. In 2023 alone, the Federal Trade Commission reports, Americans lost $10 billion to scams, a $1 billion increase from 2022. The data is even more alarming for older Americans. The FTC says it received more than 2 million reports of fraud in 2022, with a third of those coming from adults 60 and older. The losses totaled more than $1.6 billion. So, how are seniors being targeted, and what can they do to protect themselves?

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%
https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up
Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

To continue reading this article
please register for free

This is different from signing in to your print subscription


Why am I seeing this? Find out more here

Patrick M. Simasko, J.D.
Partner, Simasko Law

Patrick M. Simasko is an elder law attorney and financial adviser at Simasko Law and Simasko Financial, specializing in elder law and wealth preservation. He’s also an Elder Law Professor at Michigan State University School of Law. His self-effacing character, style and ability have garnered him prominence and recognition throughout the metro Detroit area as well as the entire state.