Elder Abuse Awareness: Protect Your Finances From In-Person Scams

June is Elder Abuse Awareness Month, and one of the most alarming scams we’ve seen this year involves con artists instructing older adults to visit their credit union, withdraw large sums of cash, and hand it over in person—often in a parking lot or at a nearby store.

These scams rely on fear, secrecy, and speed to work. Victims are told they’re helping law enforcement, protecting a loved one, or settling a fake debt. It’s high-pressure and highly dangerous.

Common Tactics:

• Claims that you’re under investigation and must cooperate quietly

• “Grandchild in trouble” calls demanding immediate cash

• Requests to withdraw money and deliver it to a stranger

• Threats of arrest or legal action if you don’t comply

• Fake “official” documents or caller ID spoofing to appear legitimate

• Pressure to keep the transaction secret from family members

  
  

These scams often catch victims off guard by creating urgency and confusion. Staying calm and seeking a second opinion before handing over money can save you from serious loss. Don’t hesitate to use your support network and the resources at your credit union to verify any suspicious request.

• Bring someone you trust when withdrawing large sums of cash.

• Alert a teller or staff member if you feel uneasy about a transaction.

• Agree on a secret family code word to confirm the identity of callers asking for help.

Key Contacts:

• Matadors Community Credit Union Member Services: 818-993-6328

• National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311)

• Your Local Police (Non-Emergency Line)

• Consumer Financial Protection Bureau: https://www.consumerfinance.gov