The numbers in the Federal Trade Commission’s newest report on older consumers are hard to read without wincing. Reported fraud losses for adults 60 and older climbed from about $600M in 2020 to about $3B in 2025.
That is roughly a fivefold jump in five years, and it comes from the agency’s report to Congress on protecting older consumers. The FTC highlighted the findings in a consumer alert on November 4, 2026, and published the full report on its official site.
Older Adults Lost About $3B In 2025, Five Times The 2020 Figure
The FTC’s report to Congress puts the loss total for adults 60 and older at about $3B for 2025. In 2020 the figure was about $600M. Those are the losses people reported.
Behind each of those dollars is a person who thought they were doing the right thing. A call comes in that sounds official, or a pop-up looks urgent, or a letter says there is money waiting. By the time the doubt sets in, the money is already gone.
Three Scams That Hit Older Adults Hardest
The report says older adults are more likely to lose money to tech support scams, prize scams and government impersonation scams. These three share one trick: they make you feel rushed and a little scared, or very lucky, so you act before you think.
Here is how each one tends to work, based on the general warnings that consumer agencies have issued for years.
Tech Support Scams Start With A Scary Pop-Up
In a typical tech support scam, a loud warning appears on your screen saying your computer is infected. The message includes a phone number and tells you to call right now. Someone on the other end claims to be from a well-known tech company and asks for remote access to your computer.
From there the caller may ask you to pay for a fix you do not need, often by gift card, wire transfer or cryptocurrency. A real company does not ask for those payment types.
If a warning like that appears, close the window. If it will not close, turn the computer off and back on. Never call the number on the screen.
Prize Scams Make You Feel Lucky So You Skip The Questions
A prize scam usually begins with news that you have won a sweepstakes, a lottery or a gift. There is just one catch: you have to pay a fee, cover taxes or send money first.
Real contests do not charge winners to collect a prize. A good rule of thumb is that you cannot win a contest you never entered, and any request to pay in advance is a red flag.
Government Impersonators Use Fear Instead Of Luck
The third scam flips the emotion. A caller says they are from a government agency and claims you owe money, that your benefits are in trouble or that a warrant has been issued in your name. They push you to pay immediately to make the problem go away.
Government agencies do not call out of the blue to demand payment or threaten arrest. If you are unsure, hang up and look up the agency’s number yourself on its official website, then call that number.
A Simple Pause Beats Most Scams
Nearly every scam depends on speed. The caller wants you to decide before you can talk to a family member, a neighbor or your bank.
That is why a pause is your best defense. Here are a few habits worth building.
- Hang up, then verify. Look up the real number for the company or agency and call it yourself.
- Never pay with gift cards, wire transfers or crypto when someone you did not contact asks you to. Those are the payment methods scammers like best.
- Keep remote access to your computer off limits for anyone who contacted you first.
- Do not click links or call numbers in unexpected pop-ups, texts or emails.
- Talk it over. Tell a trusted person about any call that makes you feel rushed.
What To Do If You Think You Were Targeted
If you have lost money or spotted a scam, report it. The FTC asks people to file reports at ReportFraud.ftc.gov. Those reports feed the same data that shapes its findings and help investigators track what scammers are doing.
Reporting also matters even if you did not lose a dime. Each report adds to the picture of how scams work and who they target.
If you gave out banking details, contact your bank or card company right away. If you let someone onto your computer, change your passwords from a different, clean device.
Why Families Should Talk About This Now
A growing loss total is a good reason to have an awkward conversation. Many people do not report scams because they feel embarrassed, and scammers count on that silence.
Sit down with a parent, a grandparent or a neighbor and walk through these three scams. Agree on a family rule, such as calling a relative before sending money to anyone who contacted you first. A two-minute phone call can protect a lifetime of savings.
The FTC’s figures show that the problem is growing fast. The advice, fortunately, is not complicated: slow down, verify, and report.
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