Story 1: The “Pretend Friend” Trope

This story starts when an older member adds a relative to their account for convenience — maybe to pay bills or as a financial safety measure. At first, everything seems fine. But then passwords are being shared more liberally than hugs and gross pocket candy (if you know, you know). Then small withdrawals begin, followed by larger ones, until they can no longer be ignored. Unfortunately, this type of exploitation is more common than many realize, with trusted individuals — like family members or caregivers — turning villain and misusing access for personal gain. It’s betrayal worthy of Prince Hans in Frozen.

But here’s how you can be the hero of this horror story:

• Pause. Notice unusual transactions or sudden changes in account behavior.
• Act. Ask questions and loop in a trusted contact — like a trusted credit union professional.
• Protect. Credit unions monitor activity and notice red flags early.

Story 2: The “Friends to Enemies” Trope

Everyone loves a good romance novel. While you may be a sports romance fan or a romantasy lover, you hopefully haven’t added romance scams to your “To Be Read” list. Here’s the plot. An older adult forms a new relationship online. The connection feels as real as Feyre and Tamlin at the beginning of A Court of Thorns and Roses — but soon, the new “friend” asks for financial help, often tied to an urgent situation like a loved one’s illness or a car repair. Spoiler Alert: Much like the previously mentioned couple, the relationship crashes and burns with the victim holding an empty wallet. Fricking Tamlin.

Romance scams are among the most costly types of fraud affecting people in general — not just older adults. Keep your happy ending and add a heap of skepticism when a loved one tells you they’ve found their endgame online. They may just thank you later.

As a family member or friend, here are your responsibilities:

• Pause. We won’t say cynical, but we will encourage you to offer a cautious outside perspective on new online relationships.
• Act. Educate others on the potential financial flaws of online relationships.
• Protect. Credit union staff are trained to gently intervene when transactions raise red flags.

Story 3: The “Unreliable Narrator” Trope

Sometimes the story you’re being told isn’t the truth. Much like an unreliable narrator, fraudsters in this particular scam mislead their victim through lying and delusion. Here’s how it happens. A caller claims to be a grandchild, a government official, a financial partner, or even tech support. Then, and this is key, they create a sense of urgency: “Act now or something bad will happen.” Honestly, no one wants something bad to happen, so they acquiesce to the request — and quickly. In our fast-paced world of immediate gratification, it may be hard to take a deep breath and think before sending money in an urgent situation, but that’s just what heroes do. They Pause. Act. and Protect.

Just like this:

• Pause. Urgency is a major warning sign.
• Act. Verify the situation independently before sending money, like hanging up and calling the person or organization directly.
• Protect. Credit unions step up by delaying suspicious transactions or asking additional questions.

Credit Unions: Not All Heroes Wear Capes

The real heroes of these stories? Credit unions. With their local staff and community focus, they’re uniquely positioned to help detect and prevent elder financial exploitation. With strong member relationships and trained staff, they recognize unusual activity, step in when something feels off, and collaborate with families or authorities when needed. Add better rates and lower fees to these benefits, and you’ll find there’s no better — or safer — place to stash your cash. (More on the superpowers of credit unions in the fight against fraud next week.)

Don’t forget to Pause. Act. Protect. Preventing elder financial exploitation starts with awareness.