Fraud losses reported by people 60 and older climbed to nearly $2.4 billion in 2024, quadrupling since 2020 Investment scams—often tied to social media pitches—drove the biggest losses, while phone ...
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Financial fraud cost older adults up to $81.5 billion in 2024, FTC estimates — more are losing at least $100,000
Adults age 60 and older are more likely to report losses of $100,000 or more due to financial fraud, according to the Federal Trade Commission. Those incidents account for 68% of the $2.4 billion in ...
Older Americans continued to lose billions of dollars to fraud in 2024, with scams increasingly exploiting trust, urgency and new technologies. The Federal Trade Commission said impostor scams, ...
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