The phone rings, and the voice on the other end sounds official. Maybe it's someone from “Social Security,” warning that your number has been linked to a crime. Maybe it's your “bank's fraud department,” calling about a suspicious charge. Maybe it's a frightened voice that sounds just like your grandchild, saying they're in trouble and need money right away.

These are impostor scams, and they've grown into one of the most damaging forms of fraud out there. The criminals behind them are convincing, patient and increasingly armed with technology that makes them sound legitimate. Whether you're reading this for yourself or for a parent, grandparent or friend, the good news is the same: once you know how these scams work, they become far easier to spot, and to stop.

Why you might be a target

Scammers go where the savings are. If you've spent years building up retirement accounts, home equity and a lifetime of careful saving, that can unfortunately put you on a scammer's radar.

The numbers are sobering. In 2024, adults 60 and older reported losing about $2.4 billion to fraud, according to the Federal Trade Commission, and impostor scams were among the most common types reported. Losses to business and government impersonators have soared: reports of losses over $100,000 climbed nearly sevenfold from 2020 to 2024, with some people reporting that they emptied their bank accounts or even cashed out retirement savings.

There's an irony worth noting. Many of these scams work precisely because you're careful with your money. Criminals use fake fraud alerts and phony security warnings to trigger exactly the kind of quick, protective reaction a responsible person would have.

The scams showing up most often

The government impersonator

This call claims to come from the Social Security Administration, Medicare, the IRS or another agency. The story is designed to frighten: your Social Security number has been suspended, it's been tied to money laundering or drug smuggling, or you owe back taxes and could be arrested.

Real government agencies don't operate this way. They won't call out of the blue to threaten you with arrest, demand immediate payment, or insist you pay with gift cards, cryptocurrency, wire transfers or cash. If you get a call like this, hang up. If you want to be sure, look up the agency's real number yourself and call to verify. Don't use any number the caller gives you.

The “move your money to protect it” trap

This one often starts as one of the scams above, then takes a dangerous turn. The caller says your accounts have been compromised and the only way to keep your money safe is to move it, whether into a “secure” government account, a new account they help you set up, cryptocurrency, or even cash or gold handed to a “courier.”

There is never a legitimate reason to move your money to protect it. No real bank, credit union or government agency will ever ask you to do this. Anyone who tells you to transfer your savings to keep it safe is a scammer, full stop.

The bank or credit union impostor

Here the caller claims to be from your financial institution's fraud department. They may already know your name, part of your account number or a recent transaction, which makes them sound believable. They'll say there's fraud on your account and ask you to “confirm” your login, your PIN, your card number or a one-time verification code.

Remember this: Nuvision will never call, text or email you to ask for your PIN, password, full card number or a one-time verification code. That code is often the final lock on your account, and a legitimate institution will never ask you to read it back. If you get a call like this, hang up and call us using the number on the back of your card.

The grandparent and family emergency scam

Few things are more effective than fear for someone you love. In this scam, you get a frantic call: a grandchild has been in an accident, has been arrested, or is stranded and needs bail or emergency money immediately. The caller often begs you not to tell other family members.

What makes this scam especially alarming today is voice cloning. Artificial intelligence can now recreate a person's voice from a short clip of audio, and many of us have plenty of usable audio in videos posted to social media. The voice on the phone may genuinely sound like your grandchild.

The best defense doesn't require any technology at all. Agree on a family code word that isn't posted anywhere online, and ask for it any time someone calls asking for emergency money. Then hang up and call your family member back on the number you already have saved. A real emergency will survive a five-minute pause to verify.

The tech support impostor

This often begins with an alarming pop-up on your computer, a warning that claims to be from Microsoft or Apple, complete with a phone number to call. The “technician” who answers will offer to fix the problem, then ask for remote access to your device or payment to resolve it. From there, they may steal information or talk you into moving money.

Legitimate tech companies don't put a phone number in a pop-up warning and ask you to call. If you see one, don't call the number and don't click anything. Close the window, or restart your computer if you can't.

Simple habits that stop impostor scams

• Slow down. Scammers create urgency on purpose because pressure keeps you from thinking clearly. Any message insisting you act right now is a reason to pause, not to rush.
• Hang up and verify. Even if a story sounds real, contact the company or agency yourself using a number you know is legitimate, such as the one on the back of your card, an account statement or the official website. Don't trust numbers or links the caller provides.
• Never share codes or passwords. A one-time verification code, PIN or password should never be given to someone who contacted you.
• Be cautious with unusual payment requests. Gift cards, cryptocurrency, wire transfers, cash couriers and Bitcoin ATMs are favorites of scammers because the money is hard to recover. A request to pay this way is a major warning sign.
• Talk it over with someone you trust. Scammers often tell victims to keep the situation secret. That secrecy is part of the scam. Sharing the story with a family member, friend or your credit union is one of the most powerful ways to break the spell.

If you're looking out for someone you love

If you have a parent, grandparent or friend you help care for, one of the kindest things you can do is talk about these scams before one happens. Agree on that family code word together. Let them know you'll never be upset by a call to double-check something. Remind them that no real agency or company will ever pressure them to move money or pay with gift cards.

Making it easy and shame-free to ask for a second opinion removes the isolation that scammers depend on. And if you're the one being asked to look out, know that this care goes a long way.

If you've already sent money

Act quickly. Contact your financial institution as soon as you suspect something is wrong. Depending on how the payment was made and how fast it's reported, there may still be a chance to stop a transaction or limit the loss. Change the passwords on any accounts that may have been exposed and watch for unfamiliar activity. You can report fraud to the FTC at ReportFraud.ftc.gov and to the FBI's Internet Crime Complaint Center at IC3.gov, and a police report can help with insurance claims or payment disputes.

And please, don't let embarrassment stop you from reaching out. These scams are designed by professionals to fool careful, intelligent people. Reporting quickly is what protects you and helps protect others.

When something doesn't feel right, check with us first

Scams keep changing, but the best protection hasn't changed at all: slow down and verify before you send money or share account information.

As a Nuvision member, you never have to make that judgment call alone. If you receive a suspicious call, text or email about your accounts, contact us before you take any action. Nuvision will never ask you for your PIN, password or a one-time code. If you're ever unsure whether you're really speaking with us, hang up and call the number on the back of your card or stop by a Nuvision branch.

A few extra minutes spent checking with us can be the difference between a close call and a serious loss. Helping our members protect what they've worked a lifetime to build is part of what it means to look out for one another.