Elder Americans have increasingly been the target of financial scams, according to the IRS Criminal Investigation.

In the past two years, fraud cases have totaled nearly $737 million.

Common schemes

  • Government impersonation scams: Scammers pretend they’re with the IRS or other government agencies and threaten to arrest victims unless they make a payment.
  • Emergency scams: Fraudsters claim that a loved one is in danger and urge victims to provide financial help.
  • Romance scams: Criminals build fake online relationships with victims to ask for money.
  • Lottery and sweepstakes fraud: Scammers claim that victims won a prize but have to first pay taxes or fees.
  • Investment fraud: Scammers promise victims a high rate of return on a low-risk opportunity, like a Ponzi scheme or cryptocurrency scam.
  • Charity scams: Fake nonprofits ask victims for money, often after a major disaster or tragedy.

Protect yourself

  • Slow down and ask for clarification. Scammers will try to trick you by creating a false sense of urgency so you make a quick decision.
  • Hang up if someone claims to be from a government agency and asks for payment or personal information. If you want to confirm the information, contact the agency directly using information from its official website.
  • Talk to a trusted family member, financial advisor, or attorney before you send money or make a major financial decision.
  • Be careful when you make new online acquaintances and check their identity before you share any personal information.
  • Check your financial accounts regularly and report suspicious activity right away.

If you’re a victim

Don’t be embarrassed if someone takes advantage of you. These schemes continue to get more and more sophisticated. If someone scams you:

  • Stop any contact with the scammer right away.
  • Notify your financial institution if you accidentally shared money or financial details.
  • Report the incident to your local law enforcement or an IRS‑CI field office.
  • Keep all records, including emails, screenshots, and phone numbers.

If you have a question about a potential IRS scam, let us know.