How to protect your parents from financial fraud

Have your parents ever mentioned a strange text asking them to “verify their bank account”? Or maybe your grandmother got a call from someone claiming to be her long-lost nephew in trouble overseas?

These aren’t just harmless pranks—they’re part of a growing wave of scams targeting seniors. And while you might spot the red flags instantly, older adults are often more vulnerable.

Let’s break down why this happens, how to spot the signs, and what you can do to protect the people you love.

Scammers are strategic. They know older adults are more likely to:

• Be home during the day to answer calls or emails
• Be more trusting of strangers
• Have savings or pensions that make them attractive targets
• Feel isolated and welcome conversation—even from strangers

Here’s how you can help your parents or grandparents stay one step ahead:

• Guard personal info
  Remind them never to share their TRN, bank account numbers, or passwords over the phone or online—no matter how official the request sounds.
• Don’t click that link
  Pop-ups, prize notifications, and “urgent” emails should be ignored. Clicking could install malware or lead to phishing sites.
• Upgrade their password game
  Help them create strong, unique passwords for each account. Avoid using names, birthdays, or “Jamaica123.”
• Shop smart online
  Encourage them to only buy from trusted websites. Look for the padlock icon and “https” in the URL.
• Tighten social media settings
  Make sure their Facebook or WhatsApp profiles aren’t wide open. Scammers often use public info to build trust or guess security questions.
• Check statements regularly
  Help them review bank and credit card statements for unfamiliar charges. Scotiabank Jamaica customers can also set up InfoAlerts to get real-time updates on account activity.
• Be their trusted contact
  Ask them to name you as a Trusted Contact Person on their financial accounts. You won’t control their money, but you’ll be notified if something seems off.

It happens—even to the most cautious. If your loved one falls victim:

• Stay calm and supportive
• Gather evidence -texts, emails, receipts.
• Report it - Call the police and notify their bank immediately. Scotiabank customers can call 1-800-472-6842, press 3 then 1 to report fraud.
• Change all passwords -especially for financial and email accounts.
• Warn others -Let friends and family know so they can stay alert too.

If something feels off, it probably is. Encourage your parents and grandparents to hang up, delete the message, or call you before taking action. A little caution can go a long way in keeping their finances—and their peace of mind—safe.