FTC Reports $3 Billion Fraud Losses Among Older Americans in 2025

Fraud losses reported by Americans aged 60 and older reached $3 billion in 2025, a 25% increase from $2.4 billion in 2024, according to the Federal Trade Commission's (FTC) annual report to Congress. This represents a 400% rise from $600 million reported in 2020. Notably, just 6% of older victims reported losing $100,000 or more, but these large losses accounted for 70% of the total losses. The number of victims losing at least six figures rose nearly sixfold to 6,769 in 2025 from 1,136 in 2020.

The FTC estimates that actual fraud losses among older adults in 2025 could range from $13.3 billion to $119.5 billion, reflecting the underreporting of scams. Investment scams were the costliest fraud type last year, with losses exceeding $1 billion, a 42% increase from 2024. Scammers used tactics such as impersonating banks and government agencies, fabricating emergencies, and exploiting artificial intelligence to make scams harder to detect and easier to produce.

These developments highlight a growing threat to older Americans' savings, with scammers evolving their methods rapidly. For investors, this increased volume and sophistication of fraud underscores the importance of vigilance and protective measures against scams, especially those involving large sums and investment opportunities.