Federal Trade Commission Releases Report on Financial Exploitation of Older Adults

The Federal Trade Commission has released its annual report on protecting older adults, revealing a disturbing trend of financial exploitation targeting seniors. According to the report, individuals aged 60 and over continue to be disproportionately affected by investment scams, losing significantly more money than any other type of fraud.

The staggering figures show that in 2025, adults 60 and over reported losses totaling $3 billion, a fivefold increase from the $600 million reported just five years prior. This alarming rise is largely attributed to an escalation in individual losses, with some consumers experiencing enormous financial setbacks.

A closer examination of the data reveals that investment scams accounted for the largest share of fraud losses, jumping 42% in 2025 to exceed $1 billion. Scammers often use social media platforms to target vulnerable seniors, making it crucial for online communities to remain vigilant and report suspicious activity.

The full report, Protecting Older Consumers 2025-2026, is now available online and provides a comprehensive summary of fraud complaints submitted to the Consumer Sentinel Network in 2025. This free investigative tool offers member groups access to millions of reported incidents, facilitating targeted investigations and support for affected individuals.

Older adults are disproportionately affected by various types of scams, with those aged 80 and over experiencing the highest median losses at $2,000. The report highlights a concerning trend of seniors falling prey to tech support scams, prize and sweepstakes scams, romance scams, government impersonation scams, and even scams perpetrated by individuals claiming to be friends or family members.

The FTC has launched targeted initiatives aimed at combating financial exploitation of seniors through law enforcement actions. These efforts involve collaboration with various stakeholders, including government agencies, academic institutions, and private sector partners. The goal is to educate consumers on how to identify and avoid scams.

One such initiative is the Never Ever campaign, which highlights three warning signs that indicate a caller or sender is likely a scammer rather than a legitimate representative of a government agency or bank. These red flags include being instructed to transfer money to protect it, being threatened with benefit suspension unless immediate payment is made, and being asked for payment via non-traditional methods.

The FTC has also been working closely with law enforcement agencies to connect victims who have suffered significant financial losses to available resources. One such resource is the Department of Justice's National Elder Fraud Hotline, which provides support to those affected by elder fraud.

A recent case highlighted in an article underscores the devastating impact of investment scams on seniors. A 77-year-old retired nurse and widow lost over $400,000 to a team of cyber scammers who impersonated a Federal Trade Commission officer. The scam involved multiple visits from individuals posing as undercover FBI agents, who collected boxes of her money.

The case is just one example of the many instances where seniors have fallen prey to investment scams, prize and sweepstakes scams, romance scams, government impersonation scams, and other types of financial exploitation.

The prevalence of scams is staggering, with over 80% of Americans surveyed reporting weekly scam calls and emails. A significant proportion, 76.5%, also receive regular scam texts, underscoring the pervasive nature of these threats.

To combat this issue, various resources are available to help individuals avoid falling victim to scams, including a guide that identifies the top seven types of scams and offers advice on mitigating potential losses if someone has already been scammed.