FTC Report Shows US Seniors Lost $3 Billion to Fraud in 2025
Federal Trade Commission data reveals adults 60 and over suffered significant losses, with investment scams driving a sharp 42 percent increase in reported fraud.
Key points
- Adults aged 60 and over lost $3 billion to fraud in 2025, a fivefold increase from 2020.
- Investment scams accounted for over $1 billion in losses, rising 42 percent year-over-year.
- Individuals aged 80 and older faced the highest median losses, averaging $2,000 per incident.
The Federal Trade Commission released its annual report to Congress on Monday, stating that adults aged 60 and over lost approximately $3 billion to fraud in the United States during 2025. This figure represents a fivefold increase from the $600 million reported by this demographic in 2020, according to the agency’s findings.
The surge in total losses was primarily driven by a significant rise in extraordinarily large individual cases. Investment scams emerged as the most costly category for older adults, with reported losses jumping 42 percent in 2025 to exceed $1 billion. Consumers indicated that scammers frequently initiate these fraudulent schemes through social media platforms.
Context and Background
The data comes from the 58-page document titled "Protecting Older Consumers 2025-2026," which summarizes complaints submitted to the Consumer Sentinel Network throughout 2025. This free online investigative tool allows FTC member groups to access millions of fraud reports to assist their investigations. The report highlights that older adults continue to report much higher individual dollar losses compared to younger demographics.
The agency emphasizes that the increase in total fraud dollars was driven largely by growing reports of extraordinarily large individual losses. The FTC outlines various law enforcement actions taken to combat these trends, including targeted consumer education initiatives and collaboration with academic and private-sector partners. The agency also coordinates with law enforcement to connect victims of significant financial loss to resources like the Department of Justice’s National Elder Fraud Hotline.
Who Is Affected
Individuals aged 80 and over fared the worst among older adults, with a median reported loss of $2,000 per incident. Beyond investment fraud, the report identifies several other prevalent scam types targeting this group. Older adults are more likely than younger people to report losses to tech support scams, prize and lottery schemes, romance fraud, and government impersonation tactics.
Scammers also frequently impersonate friends or family members to extract funds from victims. The FTC’s "Never Ever" campaign highlights three specific red flags to help seniors identify scammers posing as government officials or banks. Legitimate government agencies will never direct individuals to transfer money to protect it, nor will they threaten to suspend benefits without immediate payment. Additionally, officials will never demand payment via money apps, cryptocurrency, wire transfers, or gift cards.
What should you do?
The FTC advises consumers to recognize that legitimate government officials will never ask for payment via gift cards, cryptocurrency, or wire transfers. The agency also warns that officials will not threaten to suspend government benefits without immediate payment or direct people to transfer money to protect it. These red flags are designed to help older adults distinguish between legitimate agencies and scammers.
What to do and how to stay safe: Federal Trade Commission
- Verify the identity of any caller claiming to be from a government agency by hanging up and calling the official number listed on the agency's website.
- Never send money via gift cards, cryptocurrency, or wire transfers to anyone demanding immediate payment to avoid penalties or benefit suspension.
- Monitor social media accounts for unsolicited investment advice or requests for financial information, as scammers often use these platforms to target older adults.
- Encourage family members aged 60 and over to report suspicious interactions to the FTC or the National Elder Fraud Hotline immediately.
Step-by-step guide: Social Engineering Warning Signs and How to Respond
General security guidance from the Threat Times newsroom. It is not confirmed advice from the organisations named in this story.
Frequently asked questions
How much did seniors lose to fraud in 2025?
Adults aged 60 and over lost approximately $3 billion to fraud in 2025, according to the Federal Trade Commission.
What type of scam caused the most financial loss?
Investment scams caused the most significant losses, totaling over $1 billion and increasing by 42 percent in 2025.
Which age group suffered the highest median losses?
Individuals aged 80 and over suffered the highest median losses, averaging $2,000 per reported incident.
