J.P. Morgan Wealth Management
Ileana van der Linde & Michelle Maratto
October 23rd, 2025
Elderly and vulnerable people are prime targets for cybercriminals and scammers. Have a conversation about how they can protect themselves today.
As we look out for the elderly and vulnerable (persons who are 18 years old or older that have a physical or mental impairment that prevents them managing their finances), it’s natural to be protective while also encouraging them to be independent, if possible. However, this group of elderly and vulnerable persons (EVP) is a prime target for cybercriminals and scammers who want to take advantage of them, usually in pursuit of financial gain.
According to data from the Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3), losses totaled more than $4.8 billion for elderly victims alone in 2024 – a 43% increase from the year before.
Your loved ones may receive emails, phone calls, texts and even letters in the mail informing them they have won a trip, the lottery or a promise of romance that can sway them into believing in the opportunity. Urgent calls seemingly from the Internal Revenue Service (IRS), family members in distress or letters stating their home is in foreclosure can cause emotional distress and panic, as can fear, loneliness and greed. Both positive and negative ploys can suspend rational thinking.
Scammers are crafty and have learned what might lure their vulnerable targets and attempt to gain their trust. The promise of financial opportunity has even swayed many elderly people to fall for cryptocurrency scams. In fact, monetary losses due to crypto investment fraud by victims over the age of 60 accounted for $1.6 billion in losses in 2024.
Talk to your entire family about the common schemes that cybercriminals employ, which often sound too good to be true.
For elderly and vulnerable family members, it’s important to have this conversation and explain the types of scams specifically targeting them via channels such as phone calls, emails, text, social media and even letters in the mail. It’s important to educate and reassure your loved ones that anyone can be vulnerable to a well-crafted scam. They should not panic or be embarrassed but should feel comfortable calling a trusted individual to validate the request or transaction. No one is winning anything or getting rich quick, and people should not engage with anyone online that they haven’t met in person.
