Freezing their credit
If you only do one thing on this page, help your parents freeze their credit. A credit freeze locks their credit file so that nobody — including a scammer holding their Social Security number — can open a new loan or credit card in their name. It is the single most effective protection against identity theft; it is completely free, and it does not affect their credit score or the cards and accounts they already have.
You have to set it up separately at each of the three credit bureaus: Equifax, Experian, and TransUnion. You can do each one online in a few minutes, or by phone if your parents would rather talk to a person.
A freeze is not permanent. When your parents actually want a new card, a car loan, or a mortgage, you "thaw" the freeze — either for a set number of days or for a specific lender — and then it locks again. A freeze is stronger than a fraud alert (which just asks lenders to double-check identity), and unlike the "credit lock" products some companies sell for a monthly fee, a freeze is free and backed by law. Set one up for your parents, and set one up for yourself while you are at it.
Password managers
The other key tool is a password manager. Most people reuse the same one or two passwords everywhere, which means a single leaked password can unlock a dozen accounts. A password manager fixes this by creating a long, random, different password for every account and remembering all of them, so your parents only have to remember one master password. It also fills passwords in automatically on websites and in apps, which is usually easier for our parents than typing them, and it will warn you when one of their passwords turns up in a data breach.
Which one to use mostly comes down to what devices your parents already have:
- Apple Passwords. If your parents live entirely in the Apple world — iPhone, iPad, Mac — Apple's built-in Passwords app is free, already on their devices, and syncs across all of them automatically. For most all-Apple families this is the easiest choice.
- Google Password Manager. If your parents use an Android phone or mostly live in the Chrome browser, Google's password manager is built in, free, and works the same way. It is the natural fit for a Google household.
- Dashlane. If your parents mix devices — say an Android phone and a Windows laptop — or you want a single dashboard to help manage things, a paid manager like Dashlane works across everything and adds features like breach monitoring and secure sharing. It costs a monthly subscription, but it is the most flexible option.
Whichever you pick, turn on automatic filling and turn on two-factor authentication (a second code, usually texted or from an app) for their email and bank first — those are the accounts a scammer wants most. Many managers also let your parents grant you emergency access, so you can get into their accounts if something happens to them.
The scams that target older adults
The stories change constantly, but almost all of them fall into a few buckets:
- Government imposters. A caller claims to be from Social Security, Medicare, or the IRS and says there is a problem that has to be fixed right now.
- Tech support. A pop-up or call warns that their computer is infected and pushes them to call a number and hand over remote access or a payment.
- The grandchild in trouble. Someone calls pretending to be a grandchild, or their lawyer, in an emergency and begs for money — and to keep it a secret.
- Investment and romance scams. A promised return, or a new online friend, slowly leads to requests for money. These now cause some of the largest losses.
- Prizes and sweepstakes. Your parents "won," but they have to pay a fee first.
The common thread is always the same: pressure to act immediately, and a push to pay in ways that are hard to trace — gift cards, wire transfers, cryptocurrency, or payment apps. Real agencies and companies never work that way, so that combination is the tell.
A few more simple safeguards
- Never give out personal details to someone who contacted them. Social Security numbers, Medicare numbers, account numbers, PINs, passwords, and one-time codes should only be shared when your parents started the call using a number they trust.
- Hang up and call back. Almost every scam falls apart the moment your parents hang up and call the real company on the number from a statement or the back of the card.
- Cut down the noise. Registering on the Do Not Call list and turning on the phone's spam-call blocking means fewer scam calls get through in the first place.
- Add a second set of eyes. Shredding sensitive mail and having a trusted person review statements catches problems early. See the daily money management page for ways to do this while your parents stay in charge.
Watching for exploitation by someone close
Not all financial harm comes from strangers. Sometimes it comes from a relative, a caregiver, or a new "friend." Warning signs include money or belongings going missing, sudden changes to a will or account access, or bills going unpaid even though there is enough money. Naming a trusted contact at your parents' bank and reviewing statements together lowers the risk without taking away their independence.
If your parents have been targeted
Act quickly, and remember that being targeted is not their fault — these scams are designed to fool smart people.
- Call the bank or card issuer first to stop or reverse transactions and lock the accounts.
- Report it to the FTC at ReportFraud.ftc.gov, or 1-877-382-4357.
- Call the National Elder Fraud Hotline at 833-372-8311, where case managers walk you through the steps.
- If you suspect exploitation, or someone is in danger, contact Adult Protective Services through the Eldercare Locator at 1-800-677-1116 — and call 911 in an emergency.
Trusted resources