Older Americans reported losing about $3 billion to fraud in 2025, a 25% increase from $2.4 billion in 2024, according to a Federal Trade Commission report to Congress released Monday. The figure has risen 400% from $600 million in 2020. The FTC estimates actual losses may be far higher, ranging from $13.3 billion to $119.5 billion, because many scams go unreported.
organisation
Federal Trade Commission
US government agency that protects consumers