A phone rings. The familiar voice on the other end identifies themself as your grandson. He says he’s in trouble and needs money immediately. The only problem is it isn’t him. It’s a computer program using artificial intelligence.

According to the American Association of Retired Persons (AARP), AI-enabled fraud has risen by nearly 2,000 percent between 2023 and 2025, with losses estimated to reach as much as $40 billion next year alone.

For a variety of reasons, including higher levels of accumulated wealth, less familiarity with emerging technologies, and a generally more trusting nature, seniors are often targeted more than any other group by these types of scams.

The tactics used by fraudsters vary, but some of the most common now involve voice cloning and deepfake video technology. These tools can be used to convince individuals that a loved one is in trouble or to make requests that appear to come from someone they trust. As these technologies continue to improve, it will become increasingly difficult to distinguish between real human interactions and AI-generated scams.

That is why it is extremely important to be skeptical of unusual requests, even when they appear to come from someone you know. Establishing a family “safe word” that must be provided during emergencies, or asking personal questions that only the real person could answer, can be effective ways to verify identity before complying with a request.

Another common tactic these criminals use is impersonating a person of authority. Scammers frequently pretend to work for organizations such as the IRS, Social Security Administration, or large technology companies like Microsoft. By creating a sense of fear or urgency, they attempt to pressure their victims into acting quickly without thinking things through.

Often, the scammer will insist that immediate action is required, perhaps sending payment for an alleged past-due bill or granting remote access to your computer to “fix” a serious problem. These urgent demands are designed to push people into making decisions before they have time to pause and evaluate the situation.

Because fraud attempts often rely on creating emotional reactions such as panic, excitement, or anxiety, one of the best defenses is simply refusing to act in the moment.

A helpful mnemonic to remember is S.T.O.P.: It stands for Slowdown, Think, Observe, then Proceed. If you ever feel pressured to act immediately, simply tell the person you need a few minutes to think about the situation and end the conversation. In many cases, stepping away for even five minutes allows you to notice inconsistencies that cause you to question the claims being made, and recognize that something is not right. Scammers know this, which is why they often try to prevent you from pausing. The more resistance you encounter when you attempt to slow down, the more likely it is that you are dealing with a scam.

While technology continues to evolve, the basic principles of protecting yourself remain the same: slow down, verify who you are speaking with, and never allow someone to pressure you into making a financial decision immediately. If you ever encounter a situation that feels suspicious, taking a moment to step back or discussing it with a trusted friend, family member, or advisor can make all the difference in preventing a costly mistake.

(Past performance is no guarantee of future results. The advice is general in nature and not intended for specific situations)