Overview
- Reported losses for Americans 60 and older quadrupled from about $600 million in 2020 to $2.4 billion in 2024.
- The FTC estimates actual 2024 losses to older adults ranged from $10.1 billion to $81.5 billion due to underreporting.
- Cases involving losses over $100,000 increased more than fivefold and now account for roughly 68% of reported dollars lost.
- Investment schemes led the damage with about $744 million in reported losses, followed by $329 million in romance scams and $159 million tied to tech support fraud.
- The FTC highlights enforcement efforts and FY2025 outreach, including distribution of nearly 1.7 million Pass It On educational materials.