How to Spot a Financial Scam Targeting Women
Financial scams are nothing new—but the tactics keep evolving. And unfortunately, women are often specifically targeted. Studies show that women are more likely to serve as caregivers, manage household finances, and live longer than men—all factors that can increase exposure to financial fraud.
Scammers know this, and they’re getting more creative every year. The good news is that awareness is one of the best defenses. The more you know about how scams work, the easier it is to recognize them before they do damage. Here are a few common scams that target women to know about so you can be on alert.
1. Romance & Relationship Scams
Fraudsters build online relationships through social media or dating apps and then begin asking for money—often citing emergencies, medical expenses, or “can’t-miss” investment opportunities.
Example: A woman meets someone on a dating app who claims to be overseas for work. After weeks of building trust, he explains that he’s “stuck” and needs $5,000 to cover travel expenses. Once the money is sent, he disappears.
Red Flag: Anyone you’ve never met in person asking for financial help.
2. Imposter Scams
These often involve someone pretending to be a family member in distress or a fake call from the IRS, Social Security, or even your bank.
Example: A grandmother gets a call from someone saying, “Grandma, I’ve been arrested and need bail money—please don’t tell mom or dad.” In reality, it’s a scammer who scraped family details from social media to make the story believable.
Red Flag: Requests for immediate payment through gift cards, wire transfers, or cryptocurrency.
3. Investment Scams
Women who inherit wealth, receive a settlement, or manage family assets may be approached with too-good-to-be-true investment “opportunities.”
Example: After her divorce settlement, a woman is pitched an exclusive “oil and gas partnership” promising 20% returns with zero risk. She invests—and later discovers the company never existed.
Red Flag: Promises of guaranteed returns with little or no risk.
4. Caregiver & Healthcare Scams
Because women are often in caregiving roles, scammers may pose as healthcare providers or insurance representatives, pushing unnecessary services or fraudulent bills.
Example: A daughter caring for her elderly mother receives a call from someone claiming to be with Medicare. They say the mother must provide her Social Security number to continue receiving benefits. Once given, the scammer uses it to open accounts.
Red Flag: High-pressure tactics or requests for sensitive information over the phone.
5. Online Shopping & Subscription Traps
Pop-up ads, phishing emails, or fake websites may trick women who do much of the household purchasing.
Example: A woman clicks on an Instagram ad for a popular brand at 70% off. She enters her credit card information but never receives the product. Weeks later, fraudulent charges begin showing up on her statement.
Red Flag: Unfamiliar sites asking for credit card info or “free trial” offers that are nearly impossible to cancel.
Practical Ways to Stay One Step Ahead
Slow Down: Scammers create urgency on purpose. Take time to verify.
Verify Sources: Call companies, banks, or family members directly using official numbers, not those provided in emails or texts.
Keep Info Private: Avoid oversharing personal details on social media—scammers use this to build believable stories.
Check Statements: Review credit card and bank statements regularly for unusual activity.
Have a Trusted Circle: Discuss big financial decisions with a financial advisor, CPA, or family member before moving forward.
Final Thoughts
Women today are managing more wealth and financial responsibility than ever before, which unfortunately makes them attractive targets for fraud. Recognizing the red flags—and learning from the experiences of others—can help you avoid situations designed to exploit trust, urgency, or emotion.
At Winstone Wealth Partners, we regularly talk with clients about the financial side of life transitions, caregiving, and planning—and scams are a part of that conversation. If you’d like to discuss how to be more aware of common threats, or simply want another set of eyes before making a financial move, reach out to start the conversation.
Book Your Complimentary Financial Consultation Today: https://calendly.com/winstone-wealth-partners/financial-consultation-with-lauren-smith