The FBI's latest annual internet crime report reveals staggering losses for Americans, with victims filing over 1 million complaints and losing nearly $20.9 billion in 2025.
A clear and costly trend emerged for older adults. Americans aged 60 and older filed over 200,000 complaints, with total reported losses hitting $7.7 billion-the highest of any age group. Within that, identity theft complaints from seniors resulted in $48.5 million in losses, a 70% surge from the previous year. These scams often target bank accounts, retirement funds, and investment portfolios, where a single breach can lead to a major financial transfer.
While investment scams led overall losses at $4.5 billion, identity theft is a critical enabler for larger frauds. Scammers are evolving, now employing AI-related schemes and combining identity theft with investment or impersonation scams to drain accounts more effectively.
Experts advise key protective steps: limit sharing of personal information like Social Security numbers, pause before sending money in response to urgent requests, and independently verify any contact claiming to be from a bank or government agency. Enabling two-factor authentication and monitoring accounts for unusual activity are also critical defenses.
For seniors, where targeted accounts often hold life savings, catching suspicious activity early is the difference between a manageable loss and a devastating one.