FTC: Scam losses for older adults increased fivefold in five years
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AI-assisted source synthesis · not an independent investigation.
On October 23, 2026, PYMNTS, citing data from the U.S. Federal Trade Commission (FTC), reported that from 2020 to 2025, reported scam losses among people aged 60 and older rose from $600 million to $3 billion, a fivefold increase. The FTC said the increase in losses was driven mainly by cases involving losses of more than $100,000 per incident, which often involved investment scams, romance scams, or impersonation scams. Older adults also more frequently reported losing money to scams involving tech support, sweepstakes prizes, and people impersonating friends or relatives.
AI-written from reports · updated 9 hours ago
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- PYMNTSFTC data shows investment scams drove a fivefold increase in scam losses among older adults over five years
FTC said that from 2020 to 2025, reported scam losses among people aged 60 and over rose fivefold, from $600 million to $3 billion. The increase in losses was mainly driven by cases involving more than $100,000, often involving investment scams, romance scams or impersonation scams; older adults also more frequently reported losing money to tech support, prize sweepstakes and family or friend impersonation scams.
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