Financial fraud remains a growing concern, particularly for older adults. However, with awareness, preparation, and the right support, you and your loved ones can reduce the risk of becoming victims and stay safe. A trusted financial institution can be a valuable partner in this effort — monitoring for suspicious activity and offering tools that help protect your accounts and personal information.

As technology continues to evolve, so do the tactics used by criminals. While scams may look more sophisticated, protecting yourself still comes down to a few simple, effective habits. Start with strong passwords or passphrases and enable multi-factor authentication whenever possible. Beyond that, keep the following practical tips in mind. They’re especially important for seniors, who are often targeted by fraudsters: Plan ahead – Consider naming a trusted individual who can help monitor your accounts or step in with financial decisions, if needed. Having a plan in place provides peace of mind and helps ensure your finances are handled according to your wishes, while reducing the risk of financial exploitation.

Stay informed about your accounts – Review account statements and check your credit regularly to catch any unusual activity early. Signing up for account alerts is another easy way to stay informed and respond quickly if something doesn’t look right. Acting quickly can make a significant difference in limiting potential losses and restoring your accounts.

Protect your personal information – Be cautious about sharing sensitive details and consider placing a freeze on your credit. Never provide personal or financial information to someone you don’t know, especially over the phone, by email, or through text messages. Scammers often impersonate financial institutions and may ask for login credentials or one-time passcodes. If something feels off, end the conversation and contact your financial institution directly using a trusted number.

Be aware of spoofing tactics – Fraudsters can manipulate caller ID to make it appear as though a call is coming from a trusted source. Don’t rely on what you see on your screen alone. Take time to verify who you’re communicating with before sharing any information or clicking on links.

Think before you share online – Social media can reveal more than you realize. Avoid posting details that could be used to answer security questions or expose your location. Limiting what you share helps reduce opportunities for criminals to piece together your personal information.

Support is critical – Fraudsters are highly sophisticated and often build trust over time, which means victims may not immediately recognize what is happening. If you believe a family member or friend may be experiencing fraud, it’s important to approach the situation with understanding rather than frustration — reacting with anger can cause individuals to shut down or withhold information, making it more difficult to resolve the situation. Approaching these situations with patience, care, and empathy not only preserves trust but also strengthens our ability to respond effectively and prevent further harm.

Your financial institution should be an active resource in helping prevent fraud. Many offer tools like card controls, customizable alerts, travel notices, and credit monitoring. Enabling these features — and using multi-factor authentication — adds valuable layers of protection. Taking advantage of these tools can help you feel more confident and in control of your financial well-being.

It’s also important to recognize that financial abuse doesn’t always come from outside criminals. In some cases, it can involve someone close to the individual, such as a caregiver, family member, or trusted acquaintance. Warning signs may include unexplained withdrawals, missing belongings, sudden changes to legal documents, unpaid bills, or unfamiliar signatures. If you suspect financial abuse, report it immediately to local law enforcement or your state’s adult protective services agency for further assistance.

Staying vigilant and informed is the best defense. By following these simple steps, you can help ensure your financial information stays secure and where it belongs — with you. For more tips on protecting yourself from fraud, visit ascend.org/fraud.

Ascend is federally insured by the NCUA. Raven Garner serves as Ascend Federal Credit Union AVP of Fraud and Security.