by Kandiss Edwards
December 15, 2025
Seniors have been consistently targeted by a wide range of scams.
New data from the Federal Trade Commission show that reported financial fraud losses among older Americans increased sharply in 2024, totaling billions of dollars.
A wide range of scams has consistently targeted seniors, the FTC revealed in a report to Congress. In its annual report to the Senate and House Judiciary committees, the FTC said that “consumers reported losing about $12.8 billion to fraud in 2024” and that older adults accounted for a significant share of those losses, including large individual losses. Older consumers often reported the largest individual dollar losses. People age 80 and older reported a median loss of about $1,600 in 2024, higher than for younger groups.
Older adults most frequently reported losses to investment scams, business impostors, government impersonators, and romance scams, and social media was a common method of initial contact for investment scams, the FTC said. However, there are steps consumers can take to avoid becoming victims of fraud.
Federal and consumer advocacy resources offer clear guidance. The Consumer Financial Protection Bureau and FTC jointly advise consumers on safe financial practices.
- Don’t wire money. Wiring money is like sending cash. Once you send it, you usually can’t get it back.
- Don’t pay with gift cards, because gift cards give scammers instant control of the money.
- Don’t pay with cryptocurrency, as the currency lacks legal protections and is difficult to reverse.
- Research all potential business entities or business partners.
The two agencies also recommend reporting suspicious contacts and scams to government authorities.
“Report fraud to the FTC…at ReportFraud.ftc.gov,” they wrote, noting information helps protect the broader community from scams and bad business practices.
Furthermore, independent organizations also emphasize awareness and education. The Better Business Bureau advised that a key step in preventing scams is to become familiar with common scams targeting older adults and to encourage older adults to ignore suspicious calls or messages.
Additional support is available through the AARP Fraud Watch Network, which provides free helpline services to help spot and avoid scams. AARP’s online resource encourages people to seek guidance when they see signs of fraud and offers “tips on how to spot a scam,” as well as steps to take after detecting one.
RELATED CONTENT: Scammer Alert! ‘Atlanta’s Veneer Specialist’ Indicted On Over 100 Criminal Charges
