The Maryland AARP launched its annual PROTECT Week on Monday, promoting awareness around elder financial fraud.

One in 20 older adults in Maryland reported experiencing financial abuse in 2024 and lost a combined $47 million to scams and fraud.

Maryland Comptroller Brooke Lierman says that’s nearly five times more than in 2020, and the average loss for a single resident is around $83,000.

“Scammers today are sophisticated. They impersonate grandchildren in emergencies. They pose as government officials. They use artificial intelligence to make their voices sound familiar,” she said during a press conference.

Montgomery County resident Dolores Miller was targeted by government imposter scammers and tricked into illicit crypto kiosk transfers back in October 2024.

A private number called her and the speaker identified himself as a Montgomery County police officer, and he told Miller that there was a warrant out for arrest for three subpoenas she had not responded to.

Miller had never received any subpoenas, but the caller told her she needed to show that she had the bond money in order to not be arrested and instructed her to put cash into a Bitcoin machine.

“I was just in such a state of terror at that point, I was on the phone with the scammer for approximately five hours. He would not let me hang up. He wanted to hear everything that I said to everybody,” she said.

Miller left a note for her husband at home explaining the situation, and he went to the sheriff's office in person to find out the police were not involved.

Miller’s husband found her back at their home and told her the call was a scam and to hang up the phone.

“I hung up and I never heard from him again. He had taken $10,000 in cash from me,” she said.

Maryland Department of Aging Secretary Carmel Roque says it's important to hear stories like Miller’s because it speaks to the invisibility of financial crime.

“There is no shame in being targeted, and in fact, we're often targeted because we've had success and maintained some financial security and have built and worked to make sure that our later years will be financially secure, and this is a very real threat to that,” Roque said.

Various state leaders say they have been working in recent years to beef up efforts around financial fraud and scam protection.

Acting Secretary of the Department of Human Services Stacy Rodgers says financial exploitation is the second most common allegation reported to the Adult Protective Services (APS) Program — responsible for investigating reports of financial exploitation of older Marylanders — after self neglect.

“We recently launched a new adult maltreatment screening tool to more quickly and effectively dispatch help to victims of maltreatment, which includes financial exploitation, to strengthen our frontline response,” Rodgers said.

State Commissioner of Financial Regulation Tony Salazar also pointed to legislative action this year.

The Maryland General Assembly passed the Vulnerable Adult Banking Protection Act, which allows banks and credit unions to deny disbursements from an elderly resident’s bank account if they reasonably believe financial exploitation is involved.

“It allows them to contact designated trusted contacts to verify this situation and the facts. I think really, this is a game changer,” Salazar said. “It moves our financial institutions from being passive observers to allowing them to be active protectors of our seniors’ savings.”

Salazar also gave his best tips on protecting yourself against financial exploitation.

“Don't make financial decisions under pressure. Callers like to use fear tactics. They demand gift cards or crypto currency to solve problems, no government agency is ever going to ask for those things you should know that,” he said.

Salazar says not to pay upfront fees, particularly in mortgage transactions or loan modifications or financial transactions, which are generally illegal in Maryland.

“Take a moment, pause before you respond to any urgent or unsolicited demands. Be suspicious of requests for payment or to provide personal information. Instead, talk to a trusted friend or a loved one,” added FBI Special Agent in Charge at the Baltimore FIeld Office Jimmy Paul.

Paul says law enforcement will never threaten someone with arrest for failing to make an immediate payment for an alleged fine or any other kind of infraction.

If you receive such a call, Paul encourages you to hang up and call the police department yourself.

U.S. Postal Inspector Grace Pagan says to also be on the lookout for scammers that use AI-generated photos and voices to mimic a real person in order to build relationships with unsuspecting victims.

She says to look for inconsistent profiles, often new accounts with few friends and comment sections that don’t make sense.

“Some things to notice are lip syncing, the timing is off, the movement of the mouth is looking a little weird or has weird lighting, or there's some type of a jerky motion to the video that doesn't look real,” Pagan said “And if it sounds too good to be true, it probably is.”

State financial and legal officials say to check in on your older loved ones, especially if you notice sudden financial changes, unpaid bills, increased isolation and fearfulness and confusion.

Points of contact for reporting financial fraud and exploitation:

AARP Fraud Watch Network: 877-908-3360

Maryland Office of Financial Regulation: 1-888-784-0136

U.S. Department of Justice's National Elder Fraud Hotline: 833-FRAUD-11

Maryland Medicaid Fraud and Vulnerable Victims Unit: 1-888-743-0023