2025’s Top Scams

You’re not imagining things – there really are more frauds and scams targetting older folks than ever before.

The FTC recently reported that total fraud losses reports by 60+ folks quadrupled from $600 million in 2020 to an eye-watering $2.4 billion in 2024, largely driven by losses over $100,000, often to investment scams, romance scams, or impersonations. (Read the whole report here.)

From a faux email about a problem with your Netflix subscription, to a text message from your bank or about your unpaid toll or a call from the “IRS”  seems like no matter where we turn, we can’t escape fraud!

Closer to home, in 2025 nearly 100,000 people reported a scam to AARP’s Fraud Watch Network Helpline (877-908-3360).

The Top Ten

Here’s a breakdown of the ten most common scams reported by victims to the Helpline, with some reminders about how avoid said scam:

1. Identity Theft: The most common victim report to the Helpline for the last three years. Between frequent data breaches and criminal attempts to gather information, consumers are kept on their toes. Reminder: Be proactive! Freeze your credit and check your annual credit report regularly (www.identitytheft.gov).
2. Impostor Business: Criminals often pose as some of the businesses that we rely upon most… think banks, shipping entities, large retailers, cable/internet companies, etc. Reminder: Know what communications look like. If in doubt, verify the source – don’t just click a link or take the call. 
3. Online Dating/Romance: Deceptive scammers linger on dating sites, social media and other interactive platforms looking for a victim to build a rapport with so they can ask for money or goods. Here’s a real life example discussed by Senior Planet’s own Joan Price. Reminder: An ask for money from a stranger is the perfect time to disengage and report.
4. Tech Support/Computer Virus: More dangerous than ever, scammers pose as legitimate computer and tech support companies to try and gain access to your device and financial accounts. Reminder: Any unsolicited request for access to your device is a scam.
5. Unauthorized Money Withdrawal: Stolen information leads to funds taken from your bank account or fraudulent charges on your credit card. Reminder: Monitor accounts regularly and keep your financial records in a safe place.
6. Sweepstakes/Prizes/Lotteries: An unsolicited call or notification alerting you that you won a large sum of money, but there’s a catch, you must pay some sort of fee to receive the prize. Reminder: Never pay money to receive money.
7. Impostor Government: Impostors pose as authorities from federal, state or local governments, who will alert you of a problem and then how to fix it. The IRS will not call you unsolicited, threaten you and then ask you for payment in gift cards! Reminder: If in doubt, verify via contact information from the legitimate agency.
8. Fraudulent Sales: Scammers and other bad actors target consumers by creating fake websites, placing deceptive advertisements and attempting to buy/sell goods on marketplace sites. Reminder: When shopping online, especially from unfamiliar sources, do your research. If a deal seems too good to be true, it probably is!
9. Investment Fraud Schemes: Often a lucrative scam, impostors pose as investment professionals and convince their victim about ways to double or triple their money, most often through faux cryptocurrency investments. Reminder: Don’t trust promises of guaranteed returns and do your research (FINRA Securities Helpline for Seniors – 844-574-3577).
10. Phishing: General attempts to gather your personal or financial information to use fraudulently. Traditionally, phishing has been associated with emails, but text messages are more prevalent than ever. Reminder: Avoid engaging (responding, clicking links, etc.) with unknown contacts.

A Scary New Up and Coming Scam

A very troubling new set of scams and frauds are being powered by AI, using voice cloning to mimic loved ones in emergencies, ‘digital kidnappings,” or creating deepfake videos to request funds, making pleas seem real. Here’s a real life example reported by Senior Planet.

YOUR TURN

Did you experience a scam this year – or had a close call? Share your experience in the comments!

Looking for more resources to protect yourself against fraud and scams? Visit seniorplanet.org/scam-prevention for free classes, interactive lessons, quizzes, and much more.

Mark Fetterhoff is a Senior Advisor with AARP Fraud Watch Network. He has worked on education and outreach to older adults for over 15 years. Mark currently works with a crew of dedicated volunteers to address thousands of inquiries each month about fraud, scams and financial exploitation as part of the AARP Fraud Watch Network Helpline (877-908-3360).

Photo: Courtesy of AARP