How to Outsmart Scammers: A Must-Read Guide for Seniors and Their Families

Serving Lake County’s Seniors for Over 100 Years

May is Older Americans Month, and at North Shore Trust and Savings, we’re proud to honor our senior customers and their legacy in our community. Since 1921, we’ve remained a trusted fixture in Lake County—offering personalized banking with a community-first mindset that puts our customers before profits.

As people age, protecting their financial well-being becomes increasingly important. Unfortunately, seniors are often targeted by scammers and bad actors. That’s why this month, we’re sharing expert-backed tips to help older adults—and their families—stay alert, informed, and financially secure.

Top 10 Financial Safety Tips for Seniors

  1. Plan Ahead: Create a financial plan that includes powers of attorney, estate plans, and potential caregivers. Planning early can help avoid crises later.
  2. Protect Your Personal Documents: Shred old statements, receipts, and credit offers before discarding them. Never share your Social Security number, account info, or passwords over the phone unless you initiated the call and trust the recipient.
  3. Keep Sensitive Info Secure: Store checkbooks, bank statements, and ID documents in a locked drawer—especially if you have visitors or in-home help.
  4. Review Your Credit Regularly: Monitor your credit report and account activity. Suspicious transactions can be early warning signs of fraud.
  5. Be Wary of “Winnings:” If someone tells you you’ve won a sweepstakes—but need to pay taxes or fees first—it’s a scam. Hang up or delete the message.
  6. Don’t Rush Big Decisions: Always request information in writing and talk to a trusted advisor before making large purchases or financial commitments.
  7. Know Your Banker: Building a relationship with your banker can offer another layer of protection. Our team is trained to recognize unusual activity and alert you to potential fraud.
  8. Use Credit, Not Cash: Using credit cards leaves a paper trail and offers stronger fraud protection than cash payments.
  9. Trust Your Instincts: If something doesn’t feel right, it probably isn’t. You have the right to say no, walk away, or ask for help—without shame or pressure.
  10. Speak Up: If you suspect someone is manipulating or taking advantage of you financially, report it to your bank, the police, or Adult Protective Services. You can also file a report online at IC3.gov.

Tips for Family Members & Friends

Financial exploitation often goes unnoticed until it’s too late. Family and friends should look for these warning signs:

  • Unusual or unexplained bank withdrawals or wire transfers
  • New acquaintances influencing financial decisions
  • Abrupt changes to wills or powers of attorney
  • Unpaid bills despite available funds
  • A senior showing confusion, fear, or reluctance to discuss finances
  • A caregiver suddenly handling financial transactions without documentation

If you suspect exploitation, talk to your loved one, alert their bank, and report it to Adult Protective Services or law enforcement. Financial abuse is a crime—and it can happen to anyone.

For More Information

At North Shore Trust and Savings, You’re More Than a Customer

We’re more than just a bank—we’re your neighbors. We believe in empowering our senior community with tools, knowledge, and personal service that can protect what you’ve worked a lifetime to build. If you have concerns or questions about your finances, visit us at one of our local branches or call to speak directly with a banker who knows you by name.

Serving Lake County since 1921—and always here when you need us.