Fraud is not a distant headline or a crime that only happens to “other people.” In 2025, it has become a daily threat lurking in our inboxes, on our phones, and even in our physical mailboxes. According to the latest Federal Trade Commission data, one alarming trend has taken center stage: older adults losing staggering sums to imposter scams, often over $100,000 in a single incident. The scale of the increase is jaw-dropping — in just four years, the number of victims in this high-loss category has multiplied eightfold. This isn’t a niche problem. It’s a sweeping and deeply personal financial crisis affecting families, communities, and the stability of retirement savings nationwide.
The dollar figures alone are enough to make anyone pause. In 2020, older Americans reported $55 million in losses from imposter scams where each victim lost more than $100,000. By 2024, that number had ballooned to an astonishing $445 million. That’s nearly half a billion dollars siphoned away, often by criminals posing as government officials, corporate security representatives, or even helpful neighbors. For the individuals caught in the middle, these aren’t abstract figures — they represent life savings accumulated over decades, home sale proceeds earmarked for retirement, or emergency funds meant for medical care. Once gone, these funds are almost never recovered.
The psychology behind why older adults are being disproportionately targeted is both simple and chilling. Scammers understand their audience. They know older individuals are more likely to have substantial savings and are often less familiar with rapidly evolving digital fraud tactics. Many are also more trusting of official-sounding calls or letters, having grown up in an era when a phone call from a “government agency” was to be taken seriously. While younger people also fall prey to scams, the median loss among older adults tends to be exponentially higher. When criminals succeed with this demographic, they hit the jackpot in one strike.
A common theme in these high-loss fraud cases is the use of highly scripted, manipulative narratives. The FTC highlights three lies that appear again and again, each designed to trigger urgency and fear. The first is the claim that “someone is using your accounts.” This might come as a call from a supposed bank security officer or a message from a big-name retailer like Amazon, warning that suspicious charges have been made and immediate action is required. The second lie is even more frightening: “Your personal information is being used to commit crimes.” Here, scammers pretend to be law enforcement or government agents, warning that your Social Security number or other personal identifiers are tied to serious offenses like drug trafficking or money laundering. The third lie is a tech twist: “There’s a security problem with your computer.” Victims might see a pop-up alert claiming their device has been hacked, instructing them to call a specific number. On the other end of that number is not a helpful technician but a skilled manipulator who will attempt to gain remote access and ultimately drain accounts.
In recent years, the sophistication of these scams has evolved dramatically. The days of broken English phishing emails are long gone. Today’s fraudsters use professional-sounding scripts, spoofed phone numbers that match legitimate organizations, and even deepfake audio to mimic the voices of family members or known public officials. The rise of artificial intelligence tools has made it possible for scammers to craft convincing fake documents, mimic writing styles, and even create video messages that look authentic. For older adults who may already be less confident navigating the digital world, this level of realism makes it nearly impossible to distinguish legitimate communication from fraudulent schemes without deliberate verification.
One particularly insidious tactic gaining traction involves scammers pretending to be from the FTC itself. This is an audacious move considering the FTC is the agency warning the public about such fraud. Victims are told that in order to “protect” their funds from thieves, they must move money to a safe account — often via Bitcoin ATMs, wire transfers, or even physical delivery of cash or gold to a waiting courier. The real FTC will never ask for money, cryptocurrency, or physical valuables, but to a victim in the middle of a high-stress situation, this reassurance is often drowned out by the urgent demands of the scammer.
The broader societal implications of this trend are profound. Retirement planning assumes a degree of stability — the idea that money saved over decades will be there when needed. When a single phone call can wipe out an entire nest egg, that assumption is shattered. Families may be forced to step in financially, retirement plans are derailed, and trust in legitimate institutions can be permanently eroded. In communities where word of such scams spreads, fear can take hold, making people reluctant to answer legitimate calls or emails from banks, utility companies, or even their doctors.
Part of the problem lies in the way scams are reported and understood. For every victim who reports their experience to the FTC at ReportFraud.ftc.gov, there are countless others who remain silent out of embarrassment, fear, or a mistaken belief that nothing can be done. This underreporting means the true scope of the crisis is almost certainly larger than official statistics suggest. It also delays the development of effective countermeasures because law enforcement and consumer protection agencies rely on these reports to identify patterns and take action.
Protecting oneself in this environment requires a shift in mindset. The FTC’s advice is straightforward but critical. First, never move your money based solely on an unsolicited call, text, or email — no matter how convincing it sounds. Second, hang up or stop responding, and instead verify the claim by contacting the organization directly using a publicly listed phone number or official website. Third, make use of call-blocking tools that can prevent many scam calls from reaching you in the first place. While these steps may sound basic, they remain among the most effective defenses against financial exploitation.
Beyond these individual actions, there is a growing need for systemic solutions. Financial institutions can implement enhanced verification processes for large withdrawals or transfers, especially when initiated by older customers under sudden pressure. Technology companies can refine algorithms to detect and block fraudulent communications in real time. Community organizations, senior centers, and health care providers can incorporate fraud education into their regular programming. Even family members can play a role by having open, non-judgmental conversations about scams and what to do if something seems suspicious.
The conversation around fraud prevention also needs to recognize the role of emotional manipulation. Scammers succeed not just because they have access to technology but because they understand human psychology. They create urgency, isolate the victim from outside advice, and provide a path to “safety” that conveniently benefits them. Recognizing these red flags — urgency, secrecy, and unusual payment requests — is essential. Just as children are taught “stranger danger” for physical safety, adults of all ages now need an equivalent mental checklist for financial safety.
As we move deeper into the decade, the trajectory of imposter scams shows no sign of reversing without significant intervention. The combination of technological advancement, economic uncertainty, and the accessibility of personal information on the dark web creates a perfect storm for fraud to flourish. The challenge is enormous, but awareness is the first step toward resistance. By normalizing discussions about scams, removing the stigma of victimhood, and reinforcing the idea that anyone can be targeted, we can collectively make it harder for these criminals to operate.
In the end, the rise of imposter scams is more than a financial issue — it’s a trust issue. The erosion of trust between individuals and institutions has ripple effects across society. The antidote is a combination of vigilance, education, and the willingness to verify before acting. Your phone may ring, your email may ping, or a letter may arrive claiming urgent action is needed. But in almost every legitimate scenario, there is time to pause, verify, and proceed with caution. Taking that pause may be the single most valuable habit you can form in 2025.
For those who have already been targeted, the path forward involves both recovery and advocacy. Report the incident, no matter how small, to the FTC and your local authorities. Reach out to your financial institution immediately. Consider contacting a credit bureau to place fraud alerts on your accounts. And share your experience with others — the warning you give may be the reason someone else hangs up the phone instead of following the scammer’s instructions.
The numbers speak for themselves: hundreds of millions of dollars are being stolen from older Americans through increasingly sophisticated imposter scams. The problem is real, it is growing, and it demands attention. But with informed awareness, community support, and a commitment to verifying before trusting, individuals can reclaim a measure of control in an increasingly deceptive digital landscape. The bottom line is simple but urgent — if something feels off, stop and check. In a world where scams can sound like truth, skepticism isn’t cynicism. It’s self-defense.