So, my reasoning is little stupid but it goes like this. I am in my 30s. Let's say if I lose all my money in a scam also - I have time to earn it back and still make it back. Whereas our elders (parents are 60+) who have savings and rely on their savings and can't really earn now - and also have lot of medical bills to pay with their age ==== for them it's like one-shot ending right? That's why I considered them as special case.

That's not stupid reasoning, and I don't know you or your parents. But in the short snippet you wrote, I was interpreting your question as being based on the supposition that your parents are somehow too naive or inexperienced to understand and protect themselves. That's the part that I question.

Particularly since the answer to your question is no different than if you asked the question about anybody of any age.

I guess I need to tell them to not even send any personal detail / bank detail to anyone including me. I sort of felt like may be there is a better solution than just trusting them to follow this. Like we have insurance for death kind of scenarios and medical insurance.. some sort of systematic protection would have been better.