Cybersecurity Tip for July 2025

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Help Protect Aging Loved Ones From Financial Fraud

With fraud increasing in complexity and frequency, it's natural to be concerned for the privacy and financial security of the aging loved ones in your life. Here are some steps to help protect their financial lives with a focus on cybersecurity. 

Educate them:

Keep your loved ones informed by talking to them about popular scams and red flags that could signal bad actor activity, such as:

• Phishing scams: Scammers use fraudulent, urgent-sounding emails, texts and phone messages to get sensitive data and financial information. 
• Advance fee and investment fraud: Scammers request upfront payments with promises of large returns that never come, often through fake investment opportunities or pyramid schemes.
• Romance scams: Scammers use deceit and affection to target people seeking relationships on social media or dating apps. 
• Statistics: According to the FBI, in 2024 in the United States, people over age 60 reported 147,000 incidents of financial fraud; the average loss was $83,000. 

Help them stay safe: 

Work with your loved ones to teach them smart digital habits and assist in reviewing or monitoring their financial accounts.

• Talk to them about protective password behaviors online, such as creating strong passwords, activating two-step verification and using a password manager.
• Help your loved ones set up email, text or phone calls to alert them that there has been suspicious activity involving their financial accounts. 
• Monitor and protect your aging loved ones' financial identity. You can do this by becoming a trusted contact with their financial institution or reviewing credit reports together to ensure there are no signs of fraud. 

Source:

7 steps to help protect loved ones from financial fraud. Ameriprise Financial. (n.d.).https://www.ameriprise.com/privacy-security-fraud/fraud-reporting/protect-loved-ones-fraud 

“Federal Bureau Investigation Internet Crime Report 2024.” Federal Bureau Investigation. Accessed July 10, 2025. https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf. 

Thank you for doing your part to help keep our network and your information safe!