\u201c(The county) is seeing more instances of undue influence and sophisticated scams that specifically target vulnerable older adults,\u201d the report said.<\/p>\n
Deputy District Attorney Jonathan Beardsley sees \u201cquite a bit\u201d of elder fraud. As older adults<\/a> have more equity in their homes, they are more often victims of real estate fraud, he said. People experiencing declining cognitive abilities can be tricked into transferring assets or signing documents granting a power of attorney, which allows someone access to bank accounts.<\/p>\n Beardsley said people should be leery of unsolicited contact from a financial institution, and can call the number on the back of their credit cards for help. He suggests families have a code word to use during unusual phone calls and people should feel free to shut the door on solicitors or just take their business cards. He said scams should be reported quickly.<\/p>\n \u201cWe were able to seize \u2026 over $500,000, that was still in the suspect\u2019s account, froze that money and we were eventually able to give that money back to the victim as restitution,\u201d he told San Jos\u00e9 Spotlight. \u201cOnce the money is gone, it\u2019s very difficult to get it back.\u201d<\/p>\n In Santa Clara County, real estate fraud<\/a> is investigated by the District Attorney\u2019s Office, while elder financial abuse cases are handled by a Financial Abuse Specialist Team (FAST) made up of Adult Protective Services, a public guardian, the DA\u2019s office, County Counsel and law enforcement, Beardsley said. FAST safeguarded and recovered more than $67.5 million for victims in 2025, according to the county report.<\/p>\n \u201cThe FAST team is so important because even where law enforcement and the DA\u2019s office can\u2019t prosecute \u2026 there are still these other resources that can help try to mitigate the likelihood of future losses,\u201d he said.<\/p>\n Scams skim billions of dollars<\/p>\n It\u2019s not just older adults who fall victim to financial fraud. Referencing a Federal Trade Commission report, AARP said in 2024, Americans lost $12.5 billion to scams and fraud<\/a>. People in their 30s reported losing $810 million, and those in their 60s lost $1.18 billion. Investment scams netted $5.7 billion in reported losses.<\/p>\n Dawn Angelo, Northern California regional director of AARP California, said scams can be financially and emotionally devastating.<\/p>\n \u201cThe personal price of fraud \u2026 can\u2019t be measured in dollars alone,\u201d she said at the event. \u201cNearly two in three victims report serious health or emotional impacts. Younger people report fraud losses more often than older adults, but older adults have so much more to lose when they are targeted.\u201d<\/p>\n Michael Kan, a former detective with the Palo Alto Police Department, said when people are aware of scams, they\u2019re more likely to avoid them. He said romance scammers are convincing because they take the time to know their victim and gain their trust. Eventually, the scammer asks for help with medical bills, rent or suggests an investment.<\/p>\n \u201cIf you\u2019re getting attention from somebody, even if it\u2019s on the phone or online, that can be very addictive,\u201d he said at the event.<\/p>\n In another scam, after making unauthorized charges to a credit card, the scammer calls pretending to be the bank and suggests transferring funds to another account. If a grandparent receives a call saying their grandchild needs bond money, he suggested putting the caller on speaker and texting the child\u2019s parents or providing a fake name of the grandchild and seeing if the caller repeats it.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/06\/PXL_20260615_155208365-1024x771.jpg\")
Martha Jaquez, social services program manager for Santa Clara County Adult Protective Services, said cryptocurrency scams impact older adults\u2019 ability to pay their bills and mortgages. Photo by Lorraine Gabbert.<\/p>\n
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