FTC Report: Protecting Older Consumers 2025–2026
Federal Trade Commission | Scams and fraud target all ages, but hit consumers over 60 particularly hard. Depending on different estimates about reporting rates, the FTC estimates that the overall cost of fraud to older adults in 2025 could be as high as $119.billion.
The FTC’s annual report to Congress on protecting older adults highlights key trends based on fraud reports from older adults and the FTC’s efforts to combat the problem.
Total losses rose 400% between 2020 and 2025, from about $600 million to about $3 billion, driven by extraordinarily large individual losses.
Investment scam losses topped $1 billion in 2025, a 42% single-year increase.
Older consumers report that scammers often reach them on social media.
The highest aggregate losses came from frauds using bank transfers or payments to send money, followed by those using cryptocurrency transfers.
Older adults are more likely than younger adults to report being targeted by tech support scams; prize, sweepstakes and lottery scams; romance scams; government impersonation scams; and scams impersonating friends or family members.
“The FTC is committed to protecting older Americans from scams, including by taking every action necessary to shut down fraud operations,” said Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. “This latest report showcases our enforcement actions, outreach efforts and other initiatives the FTC has undertaken to defend older adults from fraudulent enterprises and educate Americans on how best to protect themselves from scams.”
