Sunrise: 3 Reasons Scammers Are Targeting Older Aussies

Why are scammers targeting older Australians? And how much are they losing? View my interview on Sunrise where I explain the facts.

3 big reasons scammers zero in on older Australians.

It’s not just about technology gaps, though that’s part of it.

1. Many grew up in time when we trusted institutions, so scams impersonating the tax office or banks feel believable to them.
2. High-pressure tactics—fake emergencies or threats—work because older Australians often struggle with emotional urgency. When someone says ‘your grandson’s in jail!’ or ‘pay now or face arrest!’, panic overrides caution. –
3. Scammers know older Australians often have something priceless: time and a nest egg. Criminals don’t just want a quick buck; they’re hunting for life savings built over decades.

And the numbers?

Last year, over-65s lost $120 million, that’s 13% higher than the year before, while every other age group saw losses drop. Nearly a third of all scam losses target this group.

The majority of Australians are worried about their loved ones… but many don’t know how or have time to teach them. Few reasons this is happening:

1. Life’s busy, things slip through the cracks.

2. On top of this- 60% of people admit they don’t know how to even start a tougher conversation. They’re afraid of sounding condescending or embarrassing their loved ones.

3. And let’s face it, we’re all a bit impatient now. Explaining ‘click here, not there’ feels tedious, but scammers are relishing in all these factors right now.

What is the best advice for people to pass on to their loved ones?

Three life saving rules:

1. Banks never send payment links via SMS anymore. If you see one, it’s 100% a scam.

2. Cold calls, out of the blue saying we’ve got an amazing investment for you.

3. Pressure tactics- now best investment. Classic scam.

If returns sound too good to be true, it is!.