U.S. seniors lost $3 billion to scams in 2025

According to a Federal Trade Commission (FTC) report to Congress, Americans aged 60 and older reported approximately $3 billion in scam losses in 2025. This represents a significant increase from the $600 million reported in 2020.

The surge in financial losses was largely driven by reports of individual losses exceeding $100,000, particularly involving investment, romance, and impersonation scams. Investment scams alone accounted for over $1 billion in reported losses in 2025, marking a 42% increase from the previous year. Many victims reported being targeted through social media advertisements for fraudulent investment opportunities.

While older adults report losing money to fraud less frequently than younger consumers, they tend to report higher individual financial losses. Common tactics targeting this demographic include tech support, prize and lottery, government impersonation, and scams involving the impersonation of friends or family members.