According to the Federal Trade Commission, fraudsters steal more than $8 billion every year from Americans aged 60 and over.

Here are some of the common scams to look out for:

Grandparent scams

A caller poses as a grandchild and asks for money to bail out of a legal problem or some other catastrophe. Once you send money, it's gone. This scam has grown more insidious with the rise of artificial intelligence that can mimic a specific person's voice.

Phishing scams

An official-looking email or text message asks you to click on a link and enter your password and other personal data to “fix” a problem, like a suspicious charge. Once you enter your information, your accounts are open to theft.

Impersonation scams

A caller poses as a Social Security official and demands that you pay fees or correct an overcharge to avoid loss of benefits. Your “fees,” of course, are stolen as soon as you send the money.

Overpayment scams

A scammer mails you an official-looking check, usually for a large amount, then calls and asks you to send the money back to correct their 'overpayment.' The scammer's check bounces. But yours won't—it will just be gone.

When in doubt, remember these hallmark signs of a scam:

a deal that is too good to be true
pressure to pay or act right away
requests for confidential information, such as a username and password, either over the phone or through a link that is provided