According to the Federal Trade Commission (FTC), imposter scams were the most reported type of fraud for the fifth consecutive year in 2025, with approximately 1 million reports filed. While 80% of those who reported did not incur financial losses, the remaining 20% collectively lost $3.5 billion.
Patty Hsue, chief of staff for the FTC's Division of Marketing Practices, noted that although the median loss was $700, some individuals lost over $1 million. Total fraud losses reached a record $15.9 billion in 2025, a 27% increase from $12.5 billion in 2024, with reported losses rising nearly 430% since 2020.
The increase is largely attributed to a rise in high-value scams, particularly affecting consumers aged 60 and older, who accounted for 68% of the $2.4 billion in losses reported in 2024. The FTC's report indicates that bank impersonators were responsible for $1 billion in losses, while government impersonators accounted for $920 million.
The sophistication of these scams has evolved, making them harder to detect, as criminals can now create convincing communications that appear legitimate. Amy Nofziger from the AARP Fraud Watch Network emphasized that both men and women are equally targeted, but women are more likely to report their experiences.
Common red flags for scams include unsolicited communications that create a sense of urgency and requests for secrecy. The FTC advises consumers to independently verify any suspicious communications and to report fraud promptly to increase the chances of recovering lost funds