• Overview

    Protecting our Kupuna: Tips to Avoid Elder Fraud

    Elder fraud is an increasing concern as scammers target older adults, often taking advantage of their trust or lack of familiarity with modern technology. Scams can be financially devastating and emotionally draining, making it crucial for seniors and their loved ones to be aware of common tactics used by fraudsters. Below are practical tips to help protect seniors from falling victim to elder fraud.

    1. Recognize Common Scams 
      Elder fraud schemes can take many forms, but some of the most prevalent include:

      • Tech Support Scams: Scammers impersonate tech companies, claiming there’s a problem with a computer or device that needs immediate attention, prompting victims to provide remote access or pay for fake services.
      • Government Impersonation Scams: Fraudsters pose as government officials from agencies like the IRS or Social Security Administration, demanding payment or personal information under the guise of back taxes or identity verification.
      • Lottery or Sweepstakes Scams: Victims are told they’ve won a prize but must first pay taxes or fees before claiming their winnings.
      • Romance Scams: Scammers create fake online relationships with victims, eventually asking for money or gifts.
      • Grandparent Scams: Scammers impersonate grandchildren in distress, requesting immediate financial help for an “emergency.”
    2. Don’t Share Personal Information
      Scammers often request personal information, such as Social Security numbers, credit card details, or bank account numbers. Never provide sensitive information to unsolicited calls, emails, or text messages. Government agencies, banks, or credit unions will never contact you by phone asking for personal or financial details.
    3. Beware of Unsolicited Emails and Texts
      Fraudsters may send phishing emails or texts that appear to be from legitimate companies, asking for personal information or requesting payments. These often contain links to fake websites designed to steal sensitive data. Seniors should be advised to ignore unsolicited emails and never click on suspicious links.
    4. Set Strong Passwords and Enable Two-Factor Authentication
      To protect online accounts, seniors should use strong, unique passwords and enable two-factor authentication (2FA) wherever possible. This adds an extra layer of security, making it harder for fraudsters to gain access to personal information.
    5. Monitor Financial Statements & Credit Reports
      Regularly checking bank statements, credit card bills, and credit reports can help detect any unusual activity early. Seniors should look for unauthorized charges or suspicious activity and report any discrepancies to their financial institutions immediately. With that being said, it’s a great opportunity to take advantage of real-time account alerts within Online Banking and Mobile Banking. That way, you’ll be notified of any activity on your accounts quickly.
    6. Report Fraud Immediately
      If you or someone you know has been the victim of elder fraud, it’s important to report it as soon as possible. Contact local law enforcement, the FTC, and financial institutions to mitigate further damage. In some cases, law enforcement agencies can help recover stolen funds if fraud is reported promptly.

      If your UHFCU account is involved, report the scam to us immediately at 808-983-5500 (toll-free at 1-800-927-3397) or visit the nearest branch to help ensure the security of your account.

    Here’s a list of local Hawaii agencies and federal programs offering assistance related to financial fraud and identity theft:

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