Older Americans Lost $3 Billion to Fraud in 2025, FTC Reports, a 25 Percent Jump From the Year Before
The Federal Trade Commission reported that Americans aged 60 and older lost approximately $3 billion to fraud in 2025, a 25 percent increase from $2.4 billion in 2024. Investment scams were the costliest category, with losses exceeding $1 billion. The FTC estimates actual losses could be as high as $119.5 billion because most fraud goes unreported.
Americans aged 60 and older reported losing approximately $3 billion to fraud in 2025, according to the Federal Trade Commission's annual report to Congress released on October 19, 2026.
The figure represents a 25 percent increase from the $2.4 billion reported in 2024 and a fivefold increase from the $600 million reported in 2020.
Investment scams were the costliest category. Older Americans reported losing more than $1 billion to investment fraud in 2025, a 42 percent increase from the prior year. Victims were frequently targeted through social media and lured into fraudulent investment platforms, particularly cryptocurrency-based schemes.
Government impersonation scams accounted for $448 million in losses. Business impersonation scams cost victims $422 million.
The FTC noted that most fraud goes unreported. The agency estimates actual losses for older Americans in 2025 may range between $13.3 billion and $119.5 billion.
Large individual losses drove much of the growth. Reports of losses totaling $100,000 or more rose nearly sixfold between 2020 and 2025, from 1,136 cases to 6,769. These six-figure cases represented only 6 percent of loss reports but accounted for 70 percent of total aggregate losses.
For adults aged 80 and over, the median reported loss was $2,000, higher than any other age group.
Congress is considering two bipartisan bills in response: the Tax Relief for Fraud Victims Act and the Financial Exploitation Prevention Act. Both passed the House in 2026 and have been referred to Senate committees.
