Seniors Lost Billions To Scams In 2025

According to the report, the scam that affected seniors the most by far was investment scams, followed by imposter scams, romance scams, tech support scams and lottery scams. According to the FTC, the contact method accounting for the biggest fraud losses was social media.

Why are seniors so much more likely to be targeted for scams? To some extent it may reflect the thinking exemplified by the infamous bank robber Willie Sutton who when asked why he robbed banks responded, “because that is where the money is.” So it is with many seniors who may have a lifetime of accumulated savings that provide a tempting target for scammers.

Having the same person advise the investment and control the investment is a common thread among Ponzi schemers because it enables them to falsify documents to make the investment look profitable. Generally, for additional security a good rule to follow is to have a separate broker-dealer act as custodian for investments chosen by any investment adviser you may use.

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