SUNNYVALE, CA, June 15, 2026 – In recognition of World Elder Abuse Awareness Day on June 15, Star One Credit Union is highlighting the importance of protecting older adults from financial fraud and exploitation through education, awareness, and proactive safeguards.
It’s a great time to check in with our loved ones. These days, staying connected online helps us do everything from paying bills and video chatting with family, to finding the perfect recipe. But just like we lock our front doors at night, it’s important to protect ourselves online, too.
Unfortunately, scammers are getting more creative and convincing every day. They know exactly how to make a text message, email, or your phone’s caller ID look legitimate, often pretending to be trusted companies, financial institutions, or even loved ones in need of help.
Scam-related financial losses among older Americans have risen dramatically in recent years. Data from the Federal Trade Commission shows that, from 2020 to 2024, the number of people age 60 and older who reported losing at least $10,000 to impostor scams more than quadrupled. Even more striking, reported losses of $100,000 or higher climbed from $55 million to $445 million over that span. Because many victims never report fraud, experts believe the real financial toll is substantially higher than official figures suggest.
These scams often rely on urgency, fear, or trust to pressure individuals into making quick decisions before they have time to think things through. Older adults are frequently targeted because scammers know they may be more trusting, less familiar with evolving technology, or more likely to answer calls and emails from unfamiliar sources. That’s why awareness and prevention are so important.
Here are a few simple ways to protect yourself and the older adults in your life:
- Slow down and verify: Scammers want people to act quickly. If you receive a suspicious phone call, text, or email claiming to be from a financial institution, utility company, retailer, or even a family member, pause before responding. Instead of using the phone number or link provided in the message, contact the company directly using a trusted number or website you know is legitimate.
- Never share sensitive information unexpectedly: Legitimate organizations will not ask for passwords, online banking credentials, one-time passcodes, or full account or card numbers through unsolicited phone calls, texts, or emails. If someone pressures you to provide personal or financial information, it’s a major red flag.
- Be careful with links and attachments: Phishing emails and pop-up messages often appear to come from trusted companies, but clicking on fraudulent links can allow scammers to gain access to your device or personal information. When in doubt, do not click. Instead, visit the company’s website directly by typing the address into your browser.
- Beware of search engine phishing: Fraudsters often create fake websites that appear legitimate. When looking up a company using a search engine, such as Google, fraudsters work to become the top search result. The website looks very similar to what you would normally see, and you may think it’s safe to enter sensitive information, such as your login credentials. Unfortunately, the fraudster can gain access to your accounts or computer.
- Protect personal documents and devices: Stolen mail, lost cell phones, and stolen purses continue to lead to compromised accounts and identity theft. Keep financial documents in a secure location, shred documents you don’t need, regularly monitor account activity, and report lost devices or suspicious transactions immediately.
- Designate a Trusted Contact: A Trusted Contact is someone you authorize Star One to contact if we have trouble reaching you, notice unusual account activity, or need to confirm your well-being. They are not authorized to conduct transactions on your account, instead, they serve as an added contact to help keep you safe.
- Talk about scams openly: One of the best defenses against fraud is conversation. Talk with parents, grandparents, friends, and neighbors about common scams and warning signs. Many victims feel embarrassed after being targeted, but scammers are skilled manipulators who use emotional tactics to gain trust.
These are some of the most common scams we’ve seen amongst our members recently, but they are just the tip of the iceberg when it comes to internet security. Fraud can happen to anyone, regardless of age or experience. By staying informed, remaining cautious, and taking a moment to verify unexpected requests, we can all play a role in protecting ourselves and our loved ones from financial exploitation.
If you ever feel uncertain about a suspicious message or transaction involving your accounts, contact our team directly at 866.543.5202. We are here to help you stay safe and secure.
To learn more about Star One's security protocol and stay up-to-date on the latest trends in financial fraud, visit www.starone.org/resources/security.
