Mother’s Day Scams
Elder Financial Exploitation: A Growing Concern
Elder financial exploitation occurs when someone improperly uses an older adult’s money, assets, or personal information. Scammers often target seniors because they may have savings, good credit, and a trusting nature. These scams can come from strangers—or even from people the victim knows.
Warning signs may include sudden changes in spending, unusual withdrawals, secrecy about finances, or new “friends” exerting influence.
Trusted Contacts: A Critical Line of Defense
Many financial institutions allow customers to designate a trusted contact—someone the bank can reach if suspicious activity is detected or the customer appears at risk. Encouraging loved ones to set up a trusted contact can provide an extra layer of protection without giving up financial control.
Having open conversations about finances before a problem arises can make a meaningful difference.
The “Relative in Trouble” Scam
Scammers often pose as a child, grandchild, or other relative claiming to be in urgent trouble—arrested, injured, or stranded—and in need of immediate financial help. Around Mother’s Day, emotions run high, and scammers exploit a parent’s instinct to help without hesitation.
These scams rely on urgency and secrecy. Always pause, verify the story, and contact another family member before sending money.
Social Security Scams
Calls or messages claiming to be from the Social Security Administration are common. Scammers may say benefits are suspended, a problem has been identified, or personal information needs to be verified. These messages often demand immediate action.
The Social Security Administration does not threaten, demand payment, or request personal information by phone, text, or email.
A Mother’s Day Reminder
The best gift this Mother’s Day may be awareness and protection. Take time to talk with loved ones about common scams, set up trusted contacts, and encourage them to slow down when faced with urgent financial requests.
Looking out for our mothers and elders helps ensure their financial well-being—today and every day.