The Federal Trade Commission released a report to Congress titled Protecting Older Consumers 2025-2026. The document highlights a fivefold increase in financial losses reported by adults aged 60 and older. This surge is primarily attributed to a rise in incidents involving exceptionally large individual losses, often exceeding $100,000 per case.
Investment scams, romance fraud, and impersonation schemes are identified as the main drivers of these significant financial losses. While older adults report fraud less frequently than younger demographics, they are more susceptible to specific types of deception, including tech support scams, fake lottery prizes, and impersonation of family members or government officials.
In response to these trends, the FTC is focusing on law enforcement, market monitoring, and public-private collaborations to mitigate risks. Additionally, the U.S. House of Representatives approved the GUARD Act, which aims to provide state and local authorities with more resources to investigate financial fraud, including the use of blockchain-tracing technology.
