Each June, Elder Abuse Awareness Month reminds us of an important truth: financial exploitation is one of the fastest‑growing forms of elder abuse, and it affects families in every community. At SESLOC, we’re committed to helping protect older adults from fraud, scams, and financial harm. Safeguarding your hard‑earned money is at the heart of what we do.
A Growing Threat to Older Adults
Recent federal reports show a sharp rise in scams targeting adults aged sixty and older. Losses of more than $100,000 have increased dramatically in recent years according to data collected by the Federal Trade Commission (FTC), with scammers often posing as trusted institutions, including banks, government agencies, technology companies, or even the FTC itself. These criminals use fear, urgency, and sophisticated stories to pressure older adults into sending money or sharing sensitive information.
Common tactics include:
- Fake alerts claiming that someone is using your accounts.
- Imposters pretending that your Social Security number is linked to a crime.
- Pop‑up “security warnings” urging you to call a fake support line.
- “Emergency” phone calls designed to keep you talking so that you are unable to verify the story with a loved one.
Understanding these tactics is the first step in stopping them.
How You Can Help Protect Yourself and Loved Ones
A few simple habits can make a meaningful difference:
- Pause before acting on urgent messages. Scammers rely on panic. A legitimate organization will never pressure you to act immediately.
- Never move money to “protect it.” No bank, government agency, or tech company will ever ask you to transfer funds, buy cryptocurrency, or hand over cash to keep it “safe.”
- Verify independently. Hang up and call the organization using a phone number you know is real—not one provided in a message or pop‑up.
- Limit what you share online. Personal details can help scammers impersonate you or guess security answers.
- Check your accounts regularly. Early detection is one of the strongest defenses against fraud.
- Talk openly with older family members. Conversations about the reality of fraud and scams can prevent devastating losses.
Our Commitment to You
We work every day to help protect your financial security through monitoring, education, and security tools. But awareness is one of the most powerful protections of all. This month (and every month) we encourage you to stay informed, stay cautious, and stay connected with the people you trust.
If something doesn’t feel right, pause and reach out. We’re here to help you navigate concerns, verify information, and keep your accounts safe. Our staff is trained to recognize signs of financial abuse. If you suspect an older adult in your life has fallen victim to a scam or identity theft, you can always report it by calling us at (805) 543-1816, visiting your nearest branch, or sending a Secure Message through Online Banking. Plus, as a HomeFREE Checking account holder, you have access to identity theft recovery services¹ for up to three generations of your family, including your parents.
Prepared by NXG | Strategies, Copyright 2025.
1. Identity Theft Recovery + Mobile Phone Coverage (“Program”) is provided by NXG Strategies, LLC., and are included as part of HomeFREE Checking. There is no pre-registration required. By participating in the HomeFREE Checking account the primary accountholder is accepting the terms and conditions of the Program. See sesloccares.nxgstrategies.com for terms and conditions of the Program, or request a copy of the terms and conditions by visiting any SESLOC branch office. You retain the option to utilize these services as long as you are a HomeFREE Checking accountholder, subject to terms and conditions