The voice is his. The panic is his. The only thing that isn’t his is the call.

This Halloween, the most convincing costumes in Utah won’t be on the porch. They’ll be on the phone, in your inbox, and in your text messages, and they are wearing the faces of the people and institutions you trust most.

The number that should stop you cold

According to the FBI’s annual Internet Crime Report, Americans 60 and older reported $7.7 billion in losses in 2025. That’s up roughly 59% from the year before, and it’s only what people were willing to report. The FBI itself says many victims never come forward, out of embarrassment or not knowing where to go.

The largest single category was investment fraud, more than $3.5 billion for older Americans alone. Not lottery letters. Not Nigerian princes. Fake investment platforms, polished websites, and patient, friendly people who took months to earn trust before they took the money.

Three costumes to recognize

The family emergency. Artificial intelligence can now clone a voice from a few seconds of a video posted online. The FBI received thousands of complaints from seniors last year that referenced AI, with hundreds of millions in losses. The defense costs nothing: pick a family code word tonight, at dinner, and agree that nobody sends a dime in an emergency without it.

The government official. The cost-of-living adjustment was announced this month, and Medicare enrollment season is underway. Scammers read the same calendar I do. Expect calls about “verifying your account to receive your raise” or “activating your new Medicare card.” Social Security doesn’t call to threaten your benefits. Medicare doesn’t call to ask for your number. Nobody in government accepts payment in gift cards, wire transfers, or cryptocurrency. Ever.

The bank’s fraud department. A caller says your account is compromised and you need to move the money to a “safe account” to protect it. That safe account belongs to the thief. No legitimate bank will ever ask you to move your money to protect it. If someone urges you to withdraw cash or visit a cryptocurrency kiosk, a scam is underway.

Why Utah is a target

I’ll say something about our state that’s both a compliment and a warning. Utahns are trusting people. We do business on a handshake, with folks from our neighborhood, our ward and our community.

That’s exactly why state regulators have warned for years about affinity fraud here, schemes that spread through tight-knit groups because one trusted member vouches for the next. The pitch is rarely “trust me.” It’s “Brother So-and-So is in, and he’s done very well.” Shared faith or friendship is a wonderful thing. It’s not due diligence.

How to tell the real thing

Since I work in this business, let me tell you what a legitimate annuity transaction looks like, so you can spot a fake one.

Your check is made payable to the insurance company, never to the agent and never to a third party. The agent’s license can be verified with the Utah Insurance Department in about two minutes. You receive a written contract, and you get a free-look period after it’s delivered to change your mind. And nobody honest will tell you a product guarantees high returns with no risk. A Fixed Index Annuity protects principal from market losses precisely because it caps the upside. If anyone, including me, ever promises you market returns with no downside, walk out.

Your Halloween checklist

This week, do four things:

1. Choose a family code word and share it with the grandkids.
2. Freeze your credit at all three bureaus. It’s free, and it takes an afternoon.
3. Name a trusted contact on your financial accounts, someone the firm can call if something looks wrong.
4. Adopt one rule for every urgent call: hang up, look up the number yourself and call back.

And if it happens to you or someone you love, report it to ic3.gov or call the AARP Fraud Watch Network Helpline at 877-908-3360. Then be on guard for the follow-up. Fraudsters often circle back posing as investigators who can “recover” your money for a fee. That’s the second trick, not a rescue.

Scammers count on one thing above all: that shame will keep you quiet. Being fooled by a professional isn’t a character flaw. Staying silent is how they get to your neighbor next.

Trick-or-treaters get candy. Tricksters get nothing.

Lyle Boss, The REAL BOSS Financial, a native Utahn and retirement specialist who has spent decades helping families across Utah and the Mountain West build secure, income-focused retirement plans. Boss Financial, 955 Chambers St. Suite 250, Ogden, UT 84403. Telephone: 801-475-9400. https://www.safemoneylyleboss.com.