Adult children are devastated as their senior parent falls victim to a gift card draining scam, losing $400,000 to scammers posing as federal agents. Digital fraud against older Americans is on the rise, with seniors losing $4.8 billion in 2024 to online scammers, a 43% increase from the previous year.

Scammers prey on seniors through impersonation and phishing scams, using scare tactics to rush victims into handing over money. Older adults are vulnerable due to lack of tech comfort and loneliness. Family members can help protect loved ones by educating them about scams and initiating conversations about online safety.

Experts recommend role-playing scam scenarios with older adults to prepare them for potential threats. Communication with loved ones is crucial, and red flags include scammers telling victims to keep the situation a secret. Awareness of scam methods and open dialogue are vital in preventing financial losses.

Read more at Yahoo Finance: Dad, 67, loses $400K after fake federal agents claimed his identity was stolen, son says. Here’s how the scam worked