Adults over 60 lost more than $2.3 billion to fraud in 2024, according to data from the Federal Trade Commission reported by Newsweek. In the first three months of 2025, losses totaled more than $745 million. As the holiday season approaches, fraud reports aren’t likely to slow down. Credit bureau TransUnion reported that Thanksgiving Day 2024 brought the most reported attempts at online fraud for that year.
Read: A surf goddess at age 50+? You’re Too Old For That
Discover: When your kids move back home & take your money
States At Greatest Risk of Fraud Targeting Older Adults
Some states are more at risk than others of fraud against older adults, with a greater number of fraud complaints or a higher dollar amount of losses. This could be attributed to these states having larger numbers of retirees, like in Florida and Arizona, or high concentrations of wealth, as in California (ranked #1 for elder fraud cases), New York, and Texas.
These are the states with the highest number of elder fraud complaints.
California – 96,265
Texas – 62,347
Florida – 52,191
New York – 36,468
Pennsylvania – 27,838
Illinois – 25,446
Ohio – 24,915
Indiana – 23,659
North Carolina – 22,021
Arizona – 20,101
The study, conducted by senior care platform Mirador Living using data from the FBI’s Internet Crime Complaint Center Annual Report, also showed the states with the highest dollar amounts of fraud against people over 60.
California came in first, with more than $2.5 billion in losses in 2024. Texas was second, with more than $1.35 billion; Florida came in third with just over $1 billion, and New York losses came in just under $1 billion in 2024.
Protecting yourself and loved ones this holiday season
“By identifying where complaints are most concentrated, we hope to raise awareness and encourage families, communities, and policymakers to strengthen protections for older adults,” said Mirador Living CEO and co-founder Dharam Khalsa in a press release.
He added that taking simple, proactive steps – especially during the holiday season – can help reduce your risk of fraud.
Set up text alerts for bank and credit card transactions
Banking and credit card apps make it easy to set alerts every time a transaction takes place. Don’t just set alerts for transactions over a specific dollar amount. Credit card thieves often “test” a card with a small transaction before going on an online shopping spree.
Set up your account to send a push notification, text or email every time your card is used. This helps you keep tabs on your own spending, tracks activity of any authorized users on your card, and also alerts you to unauthorized use immediately.
Use a virtual account number for online purchases
Many major credit cards, including Citi, Capital One, and Discover, allow you to establish a one-time-use virtual account number for online purchases. This can be especially helpful if you are shopping for a unique holiday gift through a website that may not be very well known.
Research charities carefully before making a donation
Scammers take advantage of people’s generosity during the holiday season to entice donations to fake charities. An AARP survey of adults ages 18+ found that 35% of people received a donation request that “seemed fraudulent.”
Before you donate money, research the organization closely through the IRS Tax Exempt Organization Search or a website like Give.org, run by the Better Business Bureau Wise Giving Alliance.
You should be able to find an organization’s tax status, names and salaries of leadership, and a breakdown of how funds are spent fairly easily through online searches.
If you’re tempted to donate to a GoFundMe or similar campaign through social media, make sure it’s someone you personally know, and reach out directly to be sure they started the campaign and it’s not a fraudulent account.
If someone calls asking for donations on behalf of a charity, don’t feel pressured and don’t give out any information, including credit card information, over the phone. Take down the organization’s name and research the charity in your own time.
Be wary of phone calls requesting money
Phone call scams come in many forms, not just requests for charitable donations. Imposters may call pretending to be IRS agents collecting unpaid taxes. They might call offering services, like debt relief or a reverse mortgage, that sound like a way out of financial hardship. They might call and say you won a sweepstakes or vacation, but you must provide a credit card to cover taxes and claim the prize.
A good dose of skepticism is healthy; never feel pressured to provide any information and don’t hesitate to hang up the phone. Don’t provide a credit card number or personal information like your social security number over the phone. It’s better to suspect something is a scam and find out you were wrong than to trust a random caller and, later, realize they were a scammer.
Understand the “grandparent scam”
This scam is so common, it has its own name. The National Council on Aging reported the “grandparent scam” is the top fraudulent complaint filed by seniors, based on data from the U.S. Senate Special Committee on Aging.
In this scam, someone will call or text or reach out through social media pretending to be a loved one – usually a grandchild or child. They will pretend to need money or a gift card urgently.
Today, AI makes it even easier for people to scam others via phone by impersonating someone’s voice. If someone calls and identifies themselves as your loved one asking for money, take these steps to sleuth out a fake:
– Ask them a question only your loved one would know the answer to
– Tell them you will call them back, and then dial their number
– Ask their parent, sibling or other loved one if it’s really them
Finally, never use Zelle, Venmo or other person-to-person payment platforms unless you are 100% sure you’re sending money to someone you know.
Talk to your parents and friends about common scams
Knowledge is power when it comes to avoiding seasonal scams or year-round fraud. Raising awareness is an important step.
Mirador LIving’s Khalsa pointed out that older adults are often perceived as being more trusting and, therefore, easier targets. This perception may start to shift as more cynical, tech-savvy generations, like later baby boomers and members of GenX, age.
But as criminals become more sophisticated and AI technology advances, it’s becoming easier for anyone to fall victim to fraud through online shopping, AI scams, or fake charity solicitations.
Isolation, loneliness, or simply not being aware of the latest scams can also lead people to make poor decisions that could expose them to fraud.
“Having regular conversations about the latest scam tactics can help,” Khalsa said.
More from Nifty50+
- Parenting in the AI age: Challenges grow with each tech advance
- New study: 25% of older Americans prefer doing activities solo, other insights on social connections
- Benefits of Senior Living Facilities for Aging Adults
- Study: Older generations are moving to be closer to family – but they have some regrets