In today’s digital age, scams have become more sophisticated than ever before. Fraudsters are using artificial intelligence (AI), deepfake videos, voice cloning, and fake websites to trick people into handing over money or personal information.

Worryingly, these scams are increasingly targeting those aged 60 and over who may not be as tech savvy, or wise to the tactics modern scammers can use.

Older adults are often seen as more financially stable and, in some cases as mentioned above, less familiar with evolving online threats. This makes them a prime target for scammers who use emotional manipulation, urgency, and convincing technology to commit fraud.

In this blog post, we’ll explore how these scams work, the growing role of AI in modern fraud, and the financial and emotional toll these crimes take on victims. Most importantly, we’ll share practical tips to help over-60s and their families stay informed and protected — and what to do if you or a loved one fall victim.

How scammers are using technology

New technologies have transformed scam tactics. AI-powered voice cloning can mimic the voice of a loved one, tricking people into thinking they’re helping a family member in trouble.

Deepfake videos make fake identities and fabricated video calls look realistic, while convincing websites can impersonate trusted institutions like banks or HMRC. Even emails and texts can now be generated automatically using AI, making them harder to spot.

Scammers often combine these methods with personal data gathered from social media or past breaches, tailoring their approach to sound more believable. This manipulation can make even the most careful person vulnerable.

The emotional and financial cost

Falling victim to a scam isn’t just about losing money—it can also have a serious emotional toll. Many people experience feelings of shame, anxiety, or even depression after being scammed. The betrayal of trust and fear of it happening again can affect relationships and confidence in using technology.

The financial consequences can also be devastating. For those relying on pensions or savings, even a single scam can put long-term financial security at risk. Some victims lose thousands of pounds, with little or no hope of recovery if the scam isn’t detected quickly.

Luckily, As of October 7, 2024, the UK has implemented new mandatory reimbursement rules to better protect victims of Authorised Push Payment (APP) fraud, which includes many modern scams targeting individuals over 60.​

Key Points of the New Reimbursement Rules:

• Mandatory Reimbursement: UK payment service providers are now required to reimburse victims of APP fraud for losses up to £85,000. This replaces the previous voluntary code and aims to provide more consistent protection for consumers. ​
• Eligibility Criteria: To qualify for reimbursement, victims must report the fraud within 13 months of the transaction and demonstrate that they did not act with gross negligence. Vulnerable customers are afforded additional protections, and the standard of caution may not apply to them. ​
• Reimbursement Timeline: Once a claim is validated, banks are obligated to reimburse victims within five business days, ensuring prompt financial relief. ​
• Scope of Coverage: The rules apply to payments made within the UK using Faster Payments or CHAPS. International payments and certain other types of transactions may not be covered under this scheme. ​

These new regulations aim to alleviate the financial burden on scam victims and encourage banks to implement stronger fraud prevention measures. However, it's still crucial for individuals to remain vigilant and take proactive steps to protect themselves from potential scams in case they don't qualify for the reimbursement.

How to recognise and prevent scams

Education and awareness are the most powerful tools in preventing scams. Here are a few tips to stay safe:

• Be wary of unexpected contact – especially calls, texts, or emails asking for urgent action or payment.

• Never share personal information or banking details unless you are absolutely sure who you’re speaking to.

• Question everything – even if it looks official. Contact the company or person directly using a trusted method.

• Look for signs of manipulation – like fear, urgency, or emotional pressure.

• Use strong, unique passwords and enable two-factor authentication where possible.

It’s also wise to limit what you share publicly online. Scammers often gather clues from social media to make their messages seem more convincing.

Here's an infographic from Chums outlining the most common scams and how to avoid them, featuring:

• Phishing scams
• AI-powered scams 
• Pension pot scams
• Fake e-shops

Know where to report it

If you suspect a scam or have been targeted, it’s important to report it. In the UK, you can contact Action Fraud (the national reporting centre for fraud and cybercrime) or Citizens Advice. Reporting not only helps you—it also protects others by helping authorities track new scam trends.

To learn more about the growing threat and how to stay protected, visit this informative guide by Chums on modern day scams affecting the over-60s.

 

Final Word

As scams continue to evolve with advancing technology, staying informed is more important than ever—especially for older adults who are increasingly targeted. While new laws are helping to protect victims financially, the best defence is awareness and caution. By understanding how scams operate, educating loved ones, and knowing what to do when something feels off, we can all play a part in reducing the impact of these crimes.

Remember: it’s not about being suspicious of everything, but about staying smart, informed, and one step ahead. Knowledge is power—and in this case, it’s also protection.

Before You Go...

Staying informed is one of the best ways to protect yourself and your loved ones from modern scams. If you found this article helpful, you may also be interested in exploring these related guides on staying safe online:

• Learn how to spot the signs of a romance scam, particularly if you or someone you know is building connections online. These scams are increasingly targeting older adults with emotional manipulation.

• Discover how spammers have become more sophisticated, using AI and personal data to tailor messages that seem frighteningly real.

• If you’re frequently interrupted by unknown callers, find out how to deal with cold callers and protect your personal information.

• Shopping online? Be aware of the risks of buying fake electrical goods, especially from third-party sellers on popular marketplaces.

Being scam-savvy could save you or a loved one from financial loss and emotional stress. Knowledge really is the best defence.