Elder Fraud
Financial exploitation of older adults through scams, abuse of trust, or manipulation — a priority enforcement area for the FTC, FBI, and equivalent bodies in the UK and Australia.
Also known as: elder financial abuse, senior fraud
Last reviewed: 10 June 2026
Elder fraud refers to the financial victimisation of people typically aged 60 and over through deception, manipulation, or abuse of a position of trust. Older adults are disproportionately targeted because they are more likely to have accumulated savings, own property outright, and have regular income from pensions; they may also be more trusting of authority figures and less familiar with digital fraud techniques.
Common elder fraud schemes include investment and pension scams, romance scams, grandparent scams (a caller impersonates a grandchild in crisis needing urgent money), tech-support scams, Medicare/benefit fraud (US), and financial abuse by family members or carers. In the UK, the Stop Scams UK initiative and Age UK work specifically on raising awareness among older people.
In the US, the DOJ Elder Justice Initiative and the FBI operate a dedicated elder fraud programme. Reporting options include the National Elder Fraud Hotline (1-833-FRAUD-11 in the US) and the CFPB's Office for Older Americans. In the UK, older victims can report to Action Fraud, local trading standards, or Age UK's Scams Prevention Scheme. Shame and cognitive decline can make detection and reporting harder; recognising the signs and creating trusted support networks is central to prevention.
Examples
- An 80-year-old is called by someone claiming to be her grandson in jail who needs $3,000 in gift cards — a grandparent scam.
- A retired couple transfers their life savings to a fake investment fund introduced by an online acquaintance, losing £280,000 — an elder investment fraud.