$745 million lost—and growing: How older adults are being targeted by scams
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The numbers are rising, and so is the concern.
Behind the headlines and statistics are real people—many of them seniors—facing devastating financial losses from scams that are getting more sophisticated by the day.
While some schemes are familiar, others are evolving fast, targeting everyday communication like texts, emails, and apps.
These crimes don’t just take money—they can damage confidence, mental health, and independence.
If you or someone you care about is over 60, it’s worth taking a closer look at what’s happening—and how to stay protected.
In just the first quarter of 2025, Americans aged 60 and over lost more than $745 million to scams, according to the Federal Trade Commission (FTC).
That’s nearly $200 million more than in the same period last year.
It’s not just one type of fraud—these scams come in many forms and are designed to catch victims off guard.
So why target older adults? Many seniors have savings, steady retirement income, or property that makes them appealing to fraudsters.
And while plenty of older adults are tech-savvy, others may not be as familiar with newer digital scams, making them easier targets for fast-talking criminals.
Here’s what the latest FTC data reveals:
These numbers likely underestimate the true scale, as many victims never report the crime—often due to fear, shame, or not knowing where to turn.
Financial loss is only part of the impact.
Scam victims often experience anxiety, embarrassment, and even health issues related to the stress of what’s happened.
Family relationships can be strained, especially when a loved one discovers the fraud too late to help.
Kathy Stokes, director of fraud prevention at AARP, calls the growth of scams "seismic," noting that victims often suffer catastrophic effects that go far beyond bank accounts.
In some cases, older adults may be forced to delay retirement or rely on public assistance after losing their savings.
Scammers adapt quickly—but many of their tricks follow predictable patterns. Here are a few of the most common ones:
Scammers are everywhere: phones, inboxes, social media, payment apps—even physical mail.
Fortunately, a few simple actions can make a big difference:
The FTC and AARP both offer reliable, up-to-date resources on scam prevention.
On July 31 at 1 p.m. ET, the FTC will host a virtual Consumer Protection and Older Adults Roundtable.
Experts will cover the latest scam trends and share tools for staying protected.
Anyone concerned about elder fraud is encouraged to tune in.
Read next: Scam alert—why your phone is suddenly getting fake job offers
The rising losses show just how important it is to stay informed and talk openly about these threats. Have you or someone you know dealt with a scam attempt? Share your experiences and tips in the comments below—your story might help protect someone else.
Behind the headlines and statistics are real people—many of them seniors—facing devastating financial losses from scams that are getting more sophisticated by the day.
While some schemes are familiar, others are evolving fast, targeting everyday communication like texts, emails, and apps.
These crimes don’t just take money—they can damage confidence, mental health, and independence.
If you or someone you care about is over 60, it’s worth taking a closer look at what’s happening—and how to stay protected.
Scams are evolving fast, targeting older adults through phones, emails, and online messages. Image source: Pexels / Tara Winstead.
A growing crisis for older adults
In just the first quarter of 2025, Americans aged 60 and over lost more than $745 million to scams, according to the Federal Trade Commission (FTC).
That’s nearly $200 million more than in the same period last year.
It’s not just one type of fraud—these scams come in many forms and are designed to catch victims off guard.
So why target older adults? Many seniors have savings, steady retirement income, or property that makes them appealing to fraudsters.
And while plenty of older adults are tech-savvy, others may not be as familiar with newer digital scams, making them easier targets for fast-talking criminals.
Also read: Could your next hotel reservation be at risk? What travelers need to know about this growing scam
What the numbers show
Here’s what the latest FTC data reveals:
- Ages 60–69: Over 60,000 reports, with losses totaling $355 million. Median loss: just under $600.
- Ages 70–79: More than 45,000 reports, resulting in $299 million in losses. Median loss: nearly $1,000.
- Ages 80 and up: Roughly 12,500 reports, with $91 million in total losses. Median loss: a staggering $1,900 per case.
These numbers likely underestimate the true scale, as many victims never report the crime—often due to fear, shame, or not knowing where to turn.
Also read: That letter about missing money might not be a scam—here’s what to know
It’s more than just money
Financial loss is only part of the impact.
Scam victims often experience anxiety, embarrassment, and even health issues related to the stress of what’s happened.
Family relationships can be strained, especially when a loved one discovers the fraud too late to help.
Kathy Stokes, director of fraud prevention at AARP, calls the growth of scams "seismic," noting that victims often suffer catastrophic effects that go far beyond bank accounts.
In some cases, older adults may be forced to delay retirement or rely on public assistance after losing their savings.
Scams don’t just steal money—they can shatter trust, independence, and peace of mind. Image source: Pexels / Kampus Production.
Also read: A warning text led to this costly mistake—how one couple lost over $80K in a shocking scam
Common scam tactics to watch for
Scammers adapt quickly—but many of their tricks follow predictable patterns. Here are a few of the most common ones:
- Imposter scams: Someone pretends to be a relative, government agent, or bank official—often adding urgency to trick the victim into acting quickly.
- Romance scams: Fraudsters build fake online relationships, then claim they need money for an emergency.
- Investment scams: “Too good to be true” returns lure victims into handing over large sums.
- Phishing: Emails or texts disguised to look real ask for login credentials or personal info.
- Tech support scams: Fake alerts convince victims to grant remote access or pay for unnecessary “repairs.”
Scammers are everywhere: phones, inboxes, social media, payment apps—even physical mail.
Also read: She lost $51K to a home repair scam—what happened and how to protect yourself
How to stay safe and protect loved ones
Fortunately, a few simple actions can make a big difference:
- Talk openly: Regular conversations about scams can help reduce stigma and build awareness.
- Verify everything: If someone claims to be from a bank or family member in distress, hang up and call back using an official number.
- Be cautious with personal info: Don’t give out sensitive details unless you’re certain who you're dealing with.
- Pause before acting: Scammers thrive on urgency. Take a moment to slow down and think.
- Use strong passwords and two-factor authentication: These add layers of protection to your accounts.
- Report fraud: If you or someone you know is targeted, report it at reportfraud.ftc.gov or the FBI’s ic3.gov.
Also read: Think twice before sharing that viral post—it could be a scam.
Resources to know about
The FTC and AARP both offer reliable, up-to-date resources on scam prevention.
On July 31 at 1 p.m. ET, the FTC will host a virtual Consumer Protection and Older Adults Roundtable.
Experts will cover the latest scam trends and share tools for staying protected.
Anyone concerned about elder fraud is encouraged to tune in.
Read next: Scam alert—why your phone is suddenly getting fake job offers
The rising losses show just how important it is to stay informed and talk openly about these threats. Have you or someone you know dealt with a scam attempt? Share your experiences and tips in the comments below—your story might help protect someone else.
