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FTC: older Americans reported about $3 billion in fraud losses in 2025
People 60 and older reported about $3 billion in fraud losses in 2025, up from $2.4 billion in 2024, the FTC said in its annual report to Congress [1][2].
- New headline Was: “Reported fraud losses among older Americans hit $3 billion in 2025 as big losses surge: FTC report”
- Our desk filed its story
Primary sources: FTC press release, Protecting Older Consumers 2025-2026, FTC report PDF (Protecting Older Consumers 2025-2026)
People ages 60 and older reported about $3 billion in fraud losses in 2025, up from about $2.4 billion in 2024 and about $600 million in 2020, the Federal Trade Commission said in its annual Protecting Older Consumers report to Congress1,2.
The agency said the fivefold rise since 2020 was driven largely by growing reports of extraordinarily large individual losses1. CNBC, citing the report, said 6,769 older adults reported losses of at least $100,000 in 2025, up from 1,136 in 2020, and that those cases were 6% of older victims but 70% of the age group's reported dollar losses2.
Investment scams were the costliest category for older adults, with reported losses over $1 billion, up 42% from 2024, the FTC said; consumers often reported being reached on social media1,2. CNBC, citing the report, put government impersonation losses at $448 million and business impersonation at $422 million2.
Older adults still reported losing money at a lower rate than younger adults, the FTC said, while median individual losses remained higher, especially among people 80 and over, whose median reported loss was $2,0001. Because many scams go unreported, the FTC said the overall cost of fraud to older adults in 2025 could be as high as $119.5 billion1,2. CNBC said the agency's estimated range was $13.3 billion to $119.5 billion2.
Christopher Mufarrige, director of the FTC's Bureau of Consumer Protection, said the report covers enforcement, outreach and education aimed at older adults1. The Commission vote authorizing the report was 2-01.
CNBC reported that the House has passed the Tax Relief for Fraud Victims Act (H.R. 9500, 408-17) and the Financial Exploitation Prevention Act (H.R. 2478, 414-2), both of which were in Senate committees with no floor vote scheduled at the time of writing2. No other outlet had independently confirmed those legislative details at the time of writing.
The FTC report is based on 2025 Consumer Sentinel Network filings; it does not claim to capture unreported fraud1.
Sources
How it’s being reported
2 versions from 1 sourceFTC Issues Annual Report to Congress on Agency’s Actions to Protect Older Adults
Reported losses of about $3 billion, large-loss reports, and agency enforcement.
FTC press release on Protecting Older Consumers 2025-2026 and 2025 Sentinel fraud figures.
Leaves out Does not give CNBC's count of $100,000-plus victims or the House bills.
Reported fraud losses among older Americans hit $3 billion in 2025 as big losses surge: FTC report
The $3 billion figure and the surge in losses of $100,000 or more.
CNBC's write-up of the FTC report, adding large-loss counts and two House bills in the Senate.
Leaves out Does not quote the FTC Bureau of Consumer Protection director.