May is Older Americans Month, a time to celebrate the strength, wisdom, and contributions of older adults in our lives. It’s also an important reminder to look out for their financial well-being, especially as scams become more sophisticated and costly each year.
The reality is clear, fraud is rising at an alarming rate, and older adults are experiencing the greatest financial impact.
According to the FBI’s most recent Internet Crime Report, Americans lost more than $20.9 billion to scams in 2025 alone, a 26% increase from the previous year. Adults aged 60 and older were hit the hardest, reporting $7.7 billion in losses, which represents the largest financial loss of any age group.
At the same time, data from the Federal Trade Commission (FTC) shows that reported fraud losses among older adults reached $2.4 billion in 2024, nearly four times higher than in 2020.
And because fraud is significantly underreported, the true impact is likely much higher. The FTC estimates that older Americans may have lost up to $81.5 billion in a single year when unreported cases are considered.
For younger adults, those in their 20s, 30s, and 40s—this creates an important opportunity. You can play a direct role in protecting the people who once protected you.
Scam prevention starts with communication but tone matters. Rather than leading with warnings, try sharing a recent example or asking if they’ve received suspicious calls or messages. Today’s scams often look incredibly real and can come through phone calls, emails, text messages, or even social media.
In fact, recent data shows that nearly 30% of scams now originate on social media, highlighting just how much the landscape has evolved. At the same time, social media use among older adults continues to grow—Pew Research reports that over 45% of adults aged 65+ now use platforms like Facebook—making awareness in these spaces more important than ever.
Creating a comfortable, judgment-free conversation makes it far more likely they’ll come to you if something doesn’t feel right.
Many scams succeed because they create urgency.
Fraudsters often claim:
Encourage your loved ones to pause, verify, and reach out to someone they trust before taking action. That brief moment can prevent a life-changing loss.
Awareness is one of the most effective defenses.
The most financially damaging scams today include:
You don’t need to overhaul everything—small steps can make a big difference.
Offer to help:
One of the most powerful safeguards is connection.
Let your loved ones know:
Sometimes, the warning signs are not obvious.
You may notice:
If a scam does occur, quick action is key.
Encourage reporting to:
Scams are no longer rare; they are a growing and evolving threat. With billions of dollars lost each year and increasingly sophisticated tactics, older adults face a level of risk that continues to rise. But prevention doesn’t require expertise, it requires awareness, communication, and connection.
This Older Americans Month, take a few minutes to check in with the people you care about. That conversation could make all the difference in protecting their financial future. For more information about scams and ways to protect yourself and your loved one please visit our Fraud and Security Center.
The reality is clear, fraud is rising at an alarming rate, and older adults are experiencing the greatest financial impact.
According to the FBI’s most recent Internet Crime Report, Americans lost more than $20.9 billion to scams in 2025 alone, a 26% increase from the previous year. Adults aged 60 and older were hit the hardest, reporting $7.7 billion in losses, which represents the largest financial loss of any age group.
At the same time, data from the Federal Trade Commission (FTC) shows that reported fraud losses among older adults reached $2.4 billion in 2024, nearly four times higher than in 2020.
And because fraud is significantly underreported, the true impact is likely much higher. The FTC estimates that older Americans may have lost up to $81.5 billion in a single year when unreported cases are considered.
For younger adults, those in their 20s, 30s, and 40s—this creates an important opportunity. You can play a direct role in protecting the people who once protected you.
Start the Conversation
Scam prevention starts with communication but tone matters. Rather than leading with warnings, try sharing a recent example or asking if they’ve received suspicious calls or messages. Today’s scams often look incredibly real and can come through phone calls, emails, text messages, or even social media.In fact, recent data shows that nearly 30% of scams now originate on social media, highlighting just how much the landscape has evolved. At the same time, social media use among older adults continues to grow—Pew Research reports that over 45% of adults aged 65+ now use platforms like Facebook—making awareness in these spaces more important than ever.
Creating a comfortable, judgment-free conversation makes it far more likely they’ll come to you if something doesn’t feel right.
Teach the “Pause Before You Act” Rule
Many scams succeed because they create urgency.Fraudsters often claim:
- A loved one is in trouble
- An account has been compromised
- Immediate payment is required
Encourage your loved ones to pause, verify, and reach out to someone they trust before taking action. That brief moment can prevent a life-changing loss.
Help Them Recognize Common Scams
Awareness is one of the most effective defenses.The most financially damaging scams today include:
- Investment and cryptocurrency scams (the largest source of losses)
- Tech support scams
- Romance scams
- Government or bank impersonation scams
Set Up Basic Security Together
You don’t need to overhaul everything—small steps can make a big difference.Offer to help:
- Enable two-factor authentication
- Set up spam filters or call-blocking tools
- Keep devices updated
- Review social media privacy settings
Encourage a “Second Opinion” Habit
One of the most powerful safeguards is connection.Let your loved ones know:
- It’s always okay to double-check
- You’re available to review suspicious messages
- They should never feel rushed or pressured
Watch for Subtle Red Flags
Sometimes, the warning signs are not obvious.You may notice:
- Unusual withdrawals or financial stress
- Increased secrecy around calls or messages
- Sudden urgency to send money
- New online relationships that seem intense or fast-moving
Know Where to Turn for Help
If a scam does occur, quick action is key.Encourage reporting to:
- The Federal Trade Commission
- The FBI’s Internet Crime Complaint Center
- Local law enforcement
- Their bank or financial institution immediately
Final Thoughts
Scams are no longer rare; they are a growing and evolving threat. With billions of dollars lost each year and increasingly sophisticated tactics, older adults face a level of risk that continues to rise. But prevention doesn’t require expertise, it requires awareness, communication, and connection.This Older Americans Month, take a few minutes to check in with the people you care about. That conversation could make all the difference in protecting their financial future. For more information about scams and ways to protect yourself and your loved one please visit our Fraud and Security Center.