The alarmingly high number of internet crimes has left many families vulnerable to scams. According to the most recent reports, losses from internet crime exceeded $20 billion in 2025, with impostor scams remaining the top category, resulting in $3.5 billion in losses.
Scammers often begin by creating fear and urgency, pretending to be law enforcement or another trusted authority. They may cite a real agency, use the name of a real agent, and instruct the victim on what to say. By the time the victim walks into a bank branch, the scammer may have a script ready, including a fake reason for the withdrawal.
Bank staff may notice red flags, such as a victim who seems nervous, stays on the phone, or gives a story that starts to fall apart. They may also notice people who seem defensive about a transaction or refuse to explain why they need cash. If a loved one stays on the phone while heading to the bank or becomes stressed about a payment, it may be a sign of a scam.
Crypto ATMs are another major warning sign. If someone is feeding cash into a crypto kiosk while following phone instructions, treat it like an emergency and interrupt the transaction calmly. Help them call their bank using the number on the back of their card.
If you think you or someone in your family sent money to a scammer, act fast. Waiting can make recovery harder. Contact your bank immediately and file a police report. Report the scam to the FBI's Internet Crime Complaint Center at IC3.gov and to the FTC at ReportFraud.ftc.gov.
A few simple safeguards can make it much harder for scammers to rush you or someone you love into a costly mistake. Log in to your bank account and make sure fraud alerts are active. Use text, email, or app alerts for large withdrawals, transfers, and card activity. Turn on two-factor authentication (2FA) for your bank, email, and financial apps.
Ask your bank or brokerage if you can add a trusted contact. Set a private family code word for urgent money requests. If someone calls claiming to be a grandchild, police officer, or lawyer, ask for the code word. If they do not know it, hang up and call the family member directly using a number you already trust.
Scammers hate delays, so make one family rule: no wire transfer, crypto payment, gift card purchase, or large cash withdrawal happens because of a phone call alone. Hang up, call the bank, call a relative, and then decide.
Falling for a scam does not make someone foolish; it makes them human. These criminals know how to use fear, shame, and urgency to push people into action. Your family's best protection may be one honest conversation before the phone rings. Talk about the warning signs, set a code word, and agree that no one moves money under pressure.
