In 2024, adults 60 and over reported losing millions to scammers pretending to be from trusted government agencies, businesses
New analysis from the Federal Trade Commission shows a more than four-fold increase since 2020 in reports from older adults who say they lost $10,000 or more—sometimes their entire life savings—to scammers who impersonate trusted government agencies or businesses to convince consumers to transfer money to protect it, when in reality the scammers want to steal it.