Older adults in the United States faced a record wave of online fraud in 2024, losing more than $700 million to scammers, according to new figures from the Federal Trade Commission (FTC).
This marks the highest amount ever reported for Americans aged 60 and above in a single year.
The scams ranged from fake tech support and romance schemes to cryptocurrency investment frauds. Criminals often used phone calls, emails, and social media to target seniors, exploiting trust and urgency to trick victims into sending money or sharing personal information.
The FTC also revealed that total fraud losses for older adults—including all scam types, not just online—surpassed $2.3 billion in 2024. Across all age groups, Americans reported losing over $12.5 billion to fraud, a 25% increase compared to 2023.
Authorities are urging older Americans and their families to stay alert, verify unexpected requests for money, and report suspicious activity immediately to the FTC or local law enforcement.
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