Written by Kyra Baeten, BSA & Risk Analyst and fraud prevention specialist

Recent trends show that fraudsters are increasingly targeting businesses by posing as trusted or familiar organizations, including financial institutions.

In recognition of Elder Abuse Awareness Day on June 15, we’re taking a moment to highlight common financial scams that often target seniors—but can affect anyone—and how to spot potential warning signs.

Older adults are often targeted due to their income, accumulated life-long savings, and less familiarity with evolving technology. In 2025, the FBI reported over 201,000 complaints for senior fraud and nearly $7.8 billion in losses—a 37% increase from the year before. Wisconsin alone saw losses exceeding $92 million.

Unfortunately, many older adults who fall victim to fraud rarely recover their lost funds. While elder financial exploitation is a major concern, these scams can impact individuals of all ages. Staying informed about common fraud tactics and remaining vigilant can help protect you and your loved ones.

Top 5 Senior Scams:

SCAM: A fake profile is created on a dating app or social media to lure people in. Typically, the scammer claims they aren’t able to meet in person due to their jobs or being on active duty. They may request money to help bring them state-side.

TIP: Do not send or receive money from an online love interest, which includes buying gift cards, wire transfers, or cryptocurrency.

SCAM: Pretends to be a legitimate business, but has fake ads on legitimate websites or uses a fake website altogether.

TIP: Avoid clicking unfamiliar links; instead, navigate directly to trusted companies you recognize.

SCAM: Pretends to be a representative of a company that’s often trusted, like Microsoft or Apple, then asks you to download software.

TIP: Do not accept unsolicited tech support help. If you need tech help, only go to someone you know and trust.

SCAM: Someone contacts you to say you’ve won a sweepstakes or the lottery, then asks for your bank account information or asks you to send payment to release your lottery or sweepstakes “winnings.”

TIP: Never send money or share bank details to claim a prize. Legitimate lotteries don’t require payment or sensitive information upfront.

SCAM: Pretends to be someone from a trusted government organization, like Social Security or the IRS. He or she may threaten that you will be arrested or they will take legal action unless you agree to send money.

TIP: The government won’t call to threaten you or ask for unusual payment methods like gift cards or bitcoin. Hang up and contact the agency directly.

How to Protect Yourself:

• Check financial statements often: You can sign up for online banking to view transactions in real-time.
• Get notified when a transaction posts to your account: Sign up for “Alerts” though online banking.
• Check your credit report: You can request one free report annually from the three agencies; visit FTC.gov for more info. You can also monitor your credit report and score anytime by enrolling in My Credit Manager through Wolf River Community Bank’s online banking—at no added cost.
• Don’t rush—talk to someone you trust: Taking a moment to consult a trusted person or your bank can help you avoid a costly mistake.

Fraud & Abuse Resources:

If you feel you have been financially abused, report it immediately. If it is urgent, call 9-1-1, otherwise, help is standing by:

National Elder Fraud Hotline

833-FRAUD-11 (833-372-8311)

• Open Monday-Friday, 9am-5pm CST
• English/Spanish/Other Languages Available

Wisconsin Elder Abuse*

WI Elder Abuse Hotline:

• 833-586-0107
• www.reportelderabusewi.org

Wisconsin Adult Protective Services**

• Outagamie: 920-832-4646, 8am-5pm
• Waupaca: 715-258-6400, 8am-4:30pm
• Winnebago: 877-886-2372, 8am-4:30pm
• After Hours, call 9-1-1

Wolf River Community Bank

Online banking, which is accessible through a computer or a mobile app, offers a real-time view of your finances to check in on potential fraud activity. This allows you to view your banking 24/7/365. You can also set up alerts to get notified of your accounts via text or email. If you need assistance creating your Wolf River Community Bank online banking account, setting up alerts, or are concerned about potential fraud, please contact us at (920) 779-7000. We are here to help.

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*Elder is ages 60+
**Adult Protective is ages 18-59 years of age