Fraudsters increasingly target older adults with sophisticated scams designed to steal personal information and money. One of the most common schemes involves impersonating the Social Security Administration (SSA), but there are many other scams that can affect your financial security. At Peoples Bank, we’re committed to helping our customers stay informed and protected.
Understanding Social Security Fraud
Social Security fraud typically involves criminals impersonating SSA representatives. These scammers may contact you by phone, email, text message, or even mail.
Common tactics include:
- Threatening calls claiming your Social Security number has been suspended due to suspicious activity
- Requests for personal information, such as your Social Security number, bank account details, or Medicare information
- Demands for immediate payment via unusual methods (gift cards, wire transfers, cryptocurrency)
- Caller ID spoofing, making it appear as though the call is coming from a government agency
Important reminder:
The Social Security Administration will never:
- Threaten arrest or legal action over the phone
- Suspend your number
- Ask for payment via gift cards or cryptocurrency
- Request sensitive information through unsolicited calls or texts
Other Scams Targeting Older Adults
While Social Security scams are widespread, they are just one of many schemes targeting older customers. Being aware of other common scams can help you stay safe.
Imposter Scams
Fraudsters pretend to be someone you trust—such as:
- A government official (IRS, Medicare)
- A utility company representative
- A bank employee
They often create a sense of urgency to pressure you into sending money or revealing personal information.
Tech Support Scams
You may receive a pop-up message or phone call claiming your computer has a virus. The scammer will:
- Ask for remote access to your device
- Charge unnecessary “fees” to fix the problem
- Install harmful software
Romance and Friendship Scams
Scammers build emotional relationships online or over the phone, eventually asking for money for:
- Medical emergencies
- Travel expenses
- Personal hardships
These scams can be financially and emotionally devastating.
Grandparent Scams
A caller poses as a grandchild or other family member in distress, requesting urgent financial assistance.
Lottery and Sweepstakes Scams
You’re told you’ve “won” a prize—but must first pay fees or taxes to claim it. Legitimate lotteries never require upfront payments.
Warning Signs of Fraud
Stay alert for these red flags:
- Urgency or threats (“Act immediately or you’ll lose your benefits”)
- Requests for secrecy (asking you not to tell anyone)
- Unusual payment methods (gift cards, wire transfers)
- Unexpected contact asking for personal information
If something feels off, trust your instincts. It’s better to pause and verify than to act quickly and regret it later.
How to Protect Yourself
Here are steps you can take to reduce your risk:
✅ Verify before you act
If you receive a suspicious call or message:
- Hang up or ignore it
- Contact the organization directly using a verified phone number
✅ Guard your personal information
Never share:
- Social Security number
- Bank account or debit card information
- Online banking passwords
✅ Monitor your accounts regularly
Check your bank and credit card statements for unfamiliar transactions.
✅ Use strong security practices
- Create strong, unique passwords
- Enable multi-factor authentication when available
What to Do If You’re Targeted
If you suspect fraud or believe you’ve been a victim:
- Contact us immediately
We can help secure your accounts and prevent further losses. - Report Social Security scams
Visit: https://oig.ssa.gov or call the SSA Office of Inspector General Fraud Hotline. - Report to the Federal Trade Commission (FTC)
Visit: https://reportfraud.ftc.gov - Tell a trusted family member or advisor
You don’t have to handle this alone.
We’re here to help
At Peoples Bank, your financial safety is our priority. If you ever have questions about a suspicious call, message, or transaction, don’t hesitate to reach out to us. A quick conversation could save you from becoming a victim.