Look for these Red Flags

Does something seem off? You can identify elder and romance scams at-a-glance. Watch out for:

  • Requests for secrecy and money after a new relationship forms.
  • Emotional stories about emergencies, travel problems, or medical expenses.
  • Refusal to meet in person or appear on video calls.
  • Payment requests in gift cards, wire transfers, or crypto.

An Example That Hits Close to Home

James, a retiree, began chatting with someone who claimed to be a nurse working overseas. After weeks of daily conversations, she shared a story about needing funds to travel back to the United States for a new job. She asked James to send money through cryptocurrency to cover her visa costs. Hoping to help, he sent several payments before a friend raised concerns.

When James searched online, he found the same photos and messages linked to dozens of other victims.

How to protect yourself

Variations on the scam

Emotional manipulation can be very convincing. Here are some ways they pull on your heartstrings:

  • Grandparent scam: Callers pretend to be a grandchild needing urgent money.
  • Medical emergency scam: A potential lover invents crises requiring quick funds.
  • Travel or visa scams: Claims of needing money for airfare or paperwork.
  • Inheritance scams: Victims told they’ve inherited money, but must pay upfront fees.

Related advice articles

Help protect yourself and those you love. These resources offer guidance on spotting and stopping elder and romance scams.

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What to do if something happens

These scams are designed to build trust, so falling victim can feel especially painful. Remember, the scammer is at fault — not you or your loved one.

    1. Change your password immediately and update your security questions if you can.
    2. Contact 1st Source right away through our Report Fraud page. We can help secure your accounts.
    3. Lock or freeze cards using card control in the mobile app until you’re confident everything is safe.
    4. Set up transaction and login alerts to keep a close eye on new activit
    5. File a report with the FTC at IdentityTheft.gov.

It’s a free resource that helps you create a recovery plan.

In a nutshell

Elder and romance scams rely on emotional manipulation. Awareness, open conversations with family, and strong financial safeguards can help stop them. And if something happens, 1st Source Bank will work with you to protect your accounts and minimize the damage.

Want to learn about other banking scams?

See our full list here:

Common scams and how to avoid them