Scams have become one of the most significant financial and emotional threats facing older people. And they are becoming harder to spot. This article will give you the specific, factual information you need to protect yourself and the people you care about. 

In 2025, the latest ACCC Targeting Scams data shows combined losses exceeded $2.18 billion.  

The most common scam types by total loss are: 

  • Investment scams 
  • Payment redirection scams 
  • Romance scams 
  • Phishing scams 
  • Remote access scams 

These five types account for around 60 per cent of all reported losses. 


Why are seniors targeted? 

Scammers target older people for specific reasons: 

  • Accumulated savings. Retirement savings and property ownership make older people high-value targets, particularly for investment scams. 
  • Trust. Research shows older adults tend to extend more good faith in communications, a trait scammers deliberately exploit. 
  • Lower familiarity with digital red flags. Phishing emails, fake websites and deepfake videos are harder to identify without recent exposure to how they’re constructed. 
  • Social isolation. Lonely people are more vulnerable to romance scams and phone-based manipulation because the contact itself feels welcome.

The most common scams targeting older Australians right now 

  • Investment scams. These often begin with a social media ad or video, sometimes featuring a fake version of a celebrity or public figure. Victims are assigned a “financial advisor” and shown convincing dashboards showing strong returns. They cannot withdraw money when they try. The entire scheme is fabricated. The ACCC has specifically warned about deepfake celebrity investment scams targeting people with retirement savings. 
  • Remote access scams. A caller claims to be from a government agency, your bank or a technology company (often “Microsoft” or “Telstra”). They say your account has been compromised and ask you to download software that gives them access to your computer. Never do this. 
  • Phishing. Fake emails or text messages that appear to be from Australia Post, myGov, the ATO your bank, or another trusted institution. They ask you to click a link and enter your details. The link goes to a fake site that captures your information. 
  • Romance scams. These involve long-term online relationships, sometimes months, before a request for money. The “person” is always overseas. There is always an emergency. There is never a face-to-face meeting. 
  • Grandparent scams. A caller claims to be a grandchild (or a lawyer/police officer acting for them) in a crisis – arrested, in hospital, in trouble abroad, and urgently needs money. The call is designed to create panic that overrides rational thinking. 

How to protect yourself: the STOP framework 

Scamwatch, the Australian Government’s official scam reporting service, recommends: 

STOP. Don’t give money or personal information to anyone contacting you unexpectedly. Pause before you act, no matter how urgent the request seems. 

THINK. Ask yourself: Is this contact expected? Does this person have a genuine reason to contact me? Can I verify their identity through an independent channel? 

PROTECT. If you think you’ve been targeted, contact your bank immediately. Report the scam to Scamwatch and to IDCARE (1800 595 160), Australia’s national identity and cyber support service. 


Practical rules

  • Your bank, the ATO, and myGov will never ask for your password, PIN or remote computer access by phone or email. 
  • If someone asks you to pay using gift cards or cryptocurrency, it is a scam. Always. 
  • When in doubt, hang up and call the organisation back using the number on their official website.

If you’ve been scammed 

Report immediately to: 

  • Your bank. Call the number on the back of your card 
  • Scamwatch
  • IDCARE 1800 595 160 (free support for identity theft victims) 
  • ReportCyber for cybercrime 


Holdsworth can help 

We run free How to Become a Senior Cyber Hero sessions throughout the year. These sessions are practical, friendly workshops designed to help older adults recognise and avoid scams online. Sessions are held at different times across the year, so there is always an opportunity to join.