Scam Prevention: Key Statistics & How to Protect Yourself in 2025

The Growing Threat of Scams: What the Numbers Tell Us

Scams are escalating at an alarming rate worldwide. Whether you are an individual, a senior citizen, or a business owner, understanding the latest fraud statistics is the first step toward protecting yourself and those you care about. This post compiles the most critical scam data and prevention tips drawn from leading authorities including the Federal Trade Commission (FTC), the FBI’s Internet Crime Complaint Center (IC3), and the AARP Fraud Watch Network.

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Overall Scam Losses: The Big Picture

• $10+ billion lost to fraud in the U.S. in 2023, according to the FTC — the highest amount ever recorded at that time.
• The FBI’s IC3 received 880,418 complaints in 2023, with reported losses exceeding $12.5 billion — a 22% increase from 2022.
• Imposter scams were the #1 fraud category reported to the FTC, with consumers losing over $2.7 billion in 2023 alone.
• Online shopping fraud, investment scams, and phone/text scams round out the top reported fraud types.
• Only an estimated 7–10% of fraud victims report their experience to authorities, meaning actual losses are far higher.

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Scams Targeting Senior Citizens

Older adults are disproportionately targeted by scammers due to factors including retirement savings, social isolation, and unfamiliarity with newer digital tactics. Here is what the data shows:

• Adults aged 60 and older filed more than 101,000 fraud complaints with the FBI IC3 in 2023, suffering losses of over $3.4 billion — the highest of any age group.
• The average loss per senior fraud victim was approximately $33,915, compared to roughly $10,000 for victims under 60.
• Tech support scams are among the top threats to seniors, with older adults losing over $590 million to this category in 2023.
• Grandparent scams — where a fraudster impersonates a grandchild in distress — cost victims tens of millions annually. Losses per incident often exceed $9,000.
• Investment fraud (especially cryptocurrency scams) cost seniors over $1.2 billion in 2023 according to the FBI.
• Phone scams remain the most common contact method used to target older adults, with government impersonation (fake Social Security Administration or Medicare calls) topping the list.

Prevention Tips for Seniors

• Never wire money or send gift cards to someone you have not met in person, regardless of the urgency of their request.
• Real government agencies (IRS, SSA, Medicare) will never call you demanding immediate payment or threatening arrest.
• Establish a trusted contact — a family member or friend — you can call before making any large financial decision.
• Register with the National Do Not Call Registry at donotcall.gov to reduce unsolicited calls.
• Contact the AARP Fraud Helpline at 1-877-908-3360 if you think you have been targeted.

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Scams Targeting Businesses

Businesses of all sizes face serious fraud risks. Cybercriminals increasingly target companies through sophisticated digital attacks.

• Business Email Compromise (BEC) was the costliest cybercrime category for businesses in 2023, causing losses of over $2.9 billion according to the FBI IC3.
• The average BEC incident costs a business approximately $137,000, but large enterprises can lose millions per incident.
• Ransomware attacks on businesses increased by over 18% in 2023 compared to the prior year, with healthcare, education, and government sectors most affected.
• Invoice and vendor fraud — where scammers pose as legitimate suppliers and reroute payment — cost businesses an estimated $500 million+ per year in the U.S.
• Phishing emails account for over 90% of all successful cyberattacks on organizations, according to cybersecurity industry reports.
• Small businesses (fewer than 100 employees) are 3x more likely to be targeted by cybercriminals than larger enterprises, due to weaker security infrastructure.

Prevention Tips for Businesses

• Implement multi-factor authentication (MFA) for all email and financial system accounts.
• Establish a mandatory verbal verification protocol before processing any wire transfer or change of payment details — even when the request appears to come from a senior executive.
• Train employees regularly to recognize phishing emails, suspicious links, and social engineering tactics.
• Maintain up-to-date software, firewalls, and endpoint protection to minimize ransomware exposure.
• Create and rehearse an incident response plan so your team knows exactly what to do if a breach or fraud occurs.
• Report suspected BEC or cyber fraud immediately to the FBI at ic3.gov and notify your financial institution to attempt a funds recall.

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Scams Affecting the General Public

Everyday consumers face a wide range of fraud tactics. Here are the most prevalent types and the data behind them:

Investment & Cryptocurrency Scams

• Investment fraud was the #1 fraud category by dollar loss reported to the FTC in 2023, totaling over $4.6 billion.
• Cryptocurrency-related fraud accounted for nearly half of all investment fraud losses, with pig butchering scams — where fraudsters build romantic or friendship connections before luring victims into fake crypto platforms — becoming the dominant tactic.

Romance Scams

• Romance scam losses reported to the FTC reached $1.14 billion in 2023, with a median individual loss of $2,000.
• People aged 18–29 are now more likely to report losing money to romance scams than older adults, though older victims tend to lose larger amounts.

Text Message & Phone Scams

• Smishing (SMS phishing) attacks increased by over 300% between 2020 and 2023, with fake package delivery notifications and bank fraud alerts among the most common lures.
• Americans received an estimated 55 billion robocalls in 2023, many of them fraudulent.

Online Shopping Fraud

• Online shopping fraud remains in the top five most reported scam types to the FTC, with consumers losing hundreds of millions annually to fake websites and non-delivery schemes.
• Social media platforms were the origin point for 1 in 4 dollars lost to online shopping fraud in 2023, with Instagram and Facebook ads promoting counterfeit goods or ghost storefronts.

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Universal Scam Prevention Tips

• Slow down. Scammers rely on urgency. Legitimate organizations will always give you time to verify a request.
• Verify independently. If someone contacts you claiming to be from your bank, the IRS, or a tech company, hang up and call the official number listed on their website.
• Never pay with gift cards or wire transfers. These are the payment methods of choice for scammers because they are nearly impossible to reverse.
• Use strong, unique passwords and enable multi-factor authentication on all important accounts.
• Check before you click. Hover over links in emails to verify the destination URL before clicking.
• Report scams. Report fraud to the FTC at ReportFraud.ftc.gov or to the FBI at ic3.gov. Your report helps investigators track and disrupt criminal networks.

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Where to Get Help

• FTC: ReportFraud.ftc.gov | Consumer.ftc.gov
• FBI IC3: ic3.gov
• AARP Fraud Helpline: 1-877-908-3360
• Identity Theft Resource Center: idtheftcenter.org | 1-888-400-5530
• Cybersecurity & Infrastructure Security Agency (CISA): cisa.gov/report

Data sources: FTC Consumer Sentinel Network Data Book 2023, FBI Internet Crime Report 2023, AARP Fraud Watch Network, Truecaller U.S. Spam & Scam Report 2023. Statistics are updated as new data becomes available.