Every day, thousands of people receive messages that look perfectly legitimate: an email from their bank, a text from Medicare, a call from a concerned grandchild. But behind many of these communications is something far more sinister: a carefully crafted attempt to steal personal information, access financial accounts, or manipulate someone into sending money. This is phishing, and it has become one of the most common forms of financial fraud in the digital age.
Phishing remains the most common method used by cybercriminals to gain access to financial accounts. Yet despite how sophisticated these attacks have become, many share the same telltale warning signs, and knowing what to look for makes all the difference. By learning how to spot these "hooks," you can add a critical layer of defense to your financial plan.
In this article you'll find the most common warning signs in practice, along with guidance for how to stay one step ahead.
Published: June 19, 2026
The opinions shared in this article are solely those of the advisors at Rockford Financial Planning. All information within is reflective of the article's publishing date and may not reflect economic changes after its date.
This content is not intended as investment, legal, or tax advice. Historical performance and economic data are for informational purposes only and do not predict future results. Consult with a qualified legal or financial professional before acting on any financial information found here.
What is Phishing?
Phishing is a type of cyberattack where perpetrators attempt to masquerade as a trusted entity, such as a bank, the IRS, a business sending you a bill, or other such institution. While attempting to pass themselves off as one of these entities, they try to trick their victims into revealing sensitive information such as passwords, Social Security numbers, account details, etc.
Common Signs of a Phishing Attempt:
- Urgent, sometimes threatening, Language:
- "Your account will be suspended in 24 hours!"
- Mismatched URL:
- A link you are told to click in the email may be disguised to appear as though it was a link to your bank, but the actual link you are directed to when clicked is a completely different address.
- Generic Greeting:
- Addressing the recipient as something along the lines of "Dear Customer" or "Valued Client," instead of your actual name.
- Unusual Attachments:
- A PDF or other file that are claiming to be real invoices.
Are you utilizing a password manager? Read about how they can protect against phishing in our article here!
Staying Protected as an Elderly or Vulnerable Person
Elderly persons are often the primary targets of sophisticated phishing organizations due to their accumulated wealth and, in some cases, less familiarity with evolving digital "red flags."
Vulnerable persons are individuals who may be at a higher risk of harm or exploitation due to their personal circumstances. This can include individuals with cognitive impairments (such as dementia), physical disabilities, or significant life stressors (such as recent and ongoing bereavement) that may cloud their judgement.
Specific Scams
- The Grandparent Scam: An urgent email or text claiming a grandchild or other family member is in trouble and needs an immediate wire transfer.
- Government Impersonation: Fake notices from the Social Security Administration or Medicare that claim your benefits will be cut off.
- Technical Support Frauds: Pop-ups claiming your computer is infected, requiring "remote access" to fix it.
It's often prudent to verify through a second channel. If you receive a suspicious "urgent" request from a family member, call them directly on their known phone number before taking any action. This works for your bank or advisors as well. Contact them through known phone numbers to verify any strange communications.
Trusted Contacts
We encourage the use of "Trusted Contacts" on financial accounts. When using trusted contacts, financial institutions will contact a designated friend or family member if they suspect you are being targeted by a scam.
What to do if you suspect a scammer has contacted you?
Stop and breathe!
Scammers rely on FOMO (Fear of Missing Out), perceived urgency, and panic! Feeling rushed does not mean you need to click a link without stepping back and evaluating any suspicions.
Verify the source
When receiving communications that claim to be from institutions that you hold an account at, you do not need to log in via the links provided in an email. Phishers rely on you clicking on the links they provide.
Logging in through the official website or app of any institution, and NOT through links provided in emails are a good way to stay protected from scams.
Consult someone!
Trusted friends, family, or advisors can give a helping hand to evaluate if something is a scam. A proverbial second set of eyes can help identify any warning signs.
How to stay protected?
As a fee-only fiduciary, our role is to act in our clients' best interests. The fiduciary oath doesn't stop at investment selection. It includes helping clients defend their assets from the rising tide of digital fraud. While this article serves as a general guideline for spotting phishing attempts, it does not serve as a definitive resource on protecting yourself from all scams. Staying vigilant and weary of untrusted sources, asking for help from trusted friends or family, or reaching out to a professional may be an insightful avenue toward achieving your goals and addressing your concerns.
Every financial plan is personal. At Rockford Financial Planning, we help our clients navigate these transitions by focusing on aligning their unique needs and long-term values with these kinds of milestones.
Reach out to us to schedule a free call to figure out the best path forward for your home sale and your future.
Read More:
- What is a phishing attack? https://www.cloudflare.com/learning/access-management/phishing-attack/
- Check out our article on Password Management: Protecting Your Online Accounts: Rockford Financial Planning's Guide to Password Management