What financial scams are targeting Indiana residents in 2026?

Indiana residents lost tens of millions to financial fraud in 2024, and 2025 showed even more alarming trends. If you're wondering what scams to watch for or how to protect yourself, this comprehensive guide covers everything you need to know about preventing, recognizing, and reporting financial fraud in Indiana.

How it works: Scammers use artificial intelligence to clone your loved one's voice from social media posts or voicemails, then call claiming there's an emergency requiring immediate money.

Warning signs:

• Urgent requests for money from family you can't reach.
• Refusal to let you speak directly to the supposed victim.
• Demands for untraceable payments like gift cards or cryptocurrency.

The numbers: Americans lost $240 million to crypto ATM scams in just six months of 2025, making this one of the fastest-growing threats.

How it happens: Scammers convince victims that their bank accounts are compromised or they're in legal trouble, then direct them to crypto ATMs where money is instantly transferred overseas.

Common impersonation targets: IRS, Social Security Administration, and local government agencies

Red flags:

• Demands for immediate payment to avoid arrest.
• Requests for gift cards, wire transfers, or cryptocurrency.
• Threats about frozen accounts or suspended benefits.
• Claims about warrants or deportation.

• Create family verification codes - Establish secret passwords for emergency communications.
• Enable real-time account alerts - Get notified immediately of any account activity.
• Use multi-factor authentication - Add extra security layers to all financial accounts.
• Monitor accounts weekly - Don't wait for monthly statements.
• Limit social media sharing - Reduce personal information available to scammers.

When you encounter a suspicious communication:

• Slow down - Scammers create false urgency.
• Verify independently - Call organizations directly using official numbers.
• Never share personal information - Legitimate companies won't request this unsolicited.
• Document everything - Save emails, phone numbers, and conversation details.
• Get second opinions - Discuss unusual requests with trusted family or advisors.

• Stop all communication with the suspected scammer.
• Contact your bank immediately to freeze affected accounts.
• Report to Indiana Attorney General Consumer Protection Division.
• File an FTC complaint at Consumer.ftc.gov.
• Alert local law enforcement to create an official record.
• Change all passwords and enable additional security.

• Document all losses with detailed records.
• Contact credit agencies to place fraud alerts.
• Dispute unauthorized transactions with your bank.
• Consider identity theft protection services.

Several factors make Hoosiers attractive targets:

Demographics: Aging population with substantial retirement savings creates high-value targets.

Geography: Rural and suburban communities often lack access to current fraud awareness resources.

Culture: Indiana's trusting, community-minded culture can work against residents when dealing with sophisticated criminals.

Resources: Smaller police departments may lack specialized fraud investigation capabilities.

The financial impact extends far beyond immediate losses:

• Emotional trauma and depression
• Damaged family relationships due to shame and blame
• Lost retirement security forcing dramatic lifestyle changes
• Increased healthcare costs from stress-related health issues
• Social isolation as victims withdraw from community

For many elderly victims, a single successful scam can eliminate decades of careful savings.

These combo scams are among the most devastating financially:

Pattern: Criminals build months-long relationships on dating apps or social media, then introduce "exclusive" cryptocurrency investment opportunities.

Protection strategies:

• Never send money to someone you haven't met in person.
• Be skeptical of "too good to be true" investment returns.
• Consult licensed financial advisors before investing.
• Verify investment platforms through regulatory databases.

• Indiana Attorney General Consumer Protection Division - State-level fraud reporting.
• Local law enforcement - Create official incident records.
• Federal Trade Commission - National fraud database.
• Your financial institution - Immediate account protection.

• Complete scammer contact details.
• Screenshots of communications.
• Transaction records and amounts.
• Timeline of events.
• Any documentation received.

New 2026 threats: Malicious QR codes placed in public spaces redirect to fake banking websites designed to steal login credentials.

Protection measures:

• Never give remote device access based on unsolicited calls.
• Verify tech support requests by calling companies directly.
• Only scan QR codes from verified, trusted sources.
• Use multi-factor authentication on all financial accounts.

• Host regular fraud awareness sessions at senior centers.
• Share current scam information through local organizations.
• Establish neighborhood watch programs for financial fraud.
• Create verification protocols within families and friend groups.

• Partner with libraries for digital literacy programs.
• Coordinate with religious institutions for member education.
• Engage local media for public awareness campaigns.

Remember these key facts:

• Government agencies never demand immediate payment through gift cards, wire transfers, or cryptocurrency.
• Banks never request passwords or PINs through unsolicited calls or emails.
• Tech companies never call unsolicited about security problems.
• Law enforcement never threatens arrest over unpaid debts or taxes.

When in doubt, hang up and call back using official phone numbers you find independently.

• Set up account alerts on all financial accounts.
• Enable multi-factor authentication.
• Create family emergency verification codes.
• Review and secure social media privacy settings.

• Schedule regular account monitoring habits.
• Share this information with elderly family members.
• Research and implement identity theft protection.
• Attend local fraud awareness sessions.

• Stay informed about new scam techniques.
• Participate in community protection efforts.
• Report suspicious activity immediately.
• Help educate others about fraud prevention.

Financial scammers count on confusion and isolation to succeed. But when Indiana communities stay informed and work together, we can protect ourselves and our neighbors from these increasingly sophisticated threats.

Your financial security depends on taking action now, not after you become a target. Start implementing these protective measures today, and help build a scam-aware community that keeps criminals from succeeding.