Fraud Losses by Age Group
How reported fraud losses and report rates vary across age groups, based on FTC Consumer Sentinel and FBI IC3 data.
Last reviewed: 1 June 2026
Official data show that fraud affects every age group, but the financial impact is not evenly distributed. Younger adults report losing money to scams more frequently, while older adults tend to lose far larger sums per incident.
The figures below come from the FTC Consumer Sentinel Network Data Book 2024 and the FBI IC3 2024 Annual Report. Both datasets capture only reported losses, which are a fraction of the true total. Treat each figure as specific to its source and year.
Key figures
$2.4 billion in 2024 — up fourfold from $600 million in 2020
Reported fraud losses by adults aged 60 and over (FTC)
Source: FTC Protecting Older Consumers 2024–2025 Report (2024)
Nearly $4.9 billion from over 147,000 complaints — a 43% increase on 2023
Reported fraud losses by adults aged 60 and over (FBI IC3)
Source: FBI Internet Crime Complaint Center (IC3) 2024 Annual Report (2024)
44% of reporters in this age group said they lost money — higher than any older bracket
Adults aged 20–29 who reported losing money to a scam
Source: FTC Consumer Sentinel Network Data Book 2024 (2024)
More than $1,600 — the highest median of any age group tracked by the FTC
Median individual loss for adults aged 80 and over
Source: FTC Consumer Sentinel Network Data Book 2024 (2024)
$417 — well below the overall median of $497
Median individual loss for adults aged 20–29
Source: FTC Consumer Sentinel Network Data Book 2024 (2024)
Key takeaways
- Younger adults lose money to scams more often, but older adults lose far more per incident when they do.
- Adults aged 80 and over had the highest median individual reported loss of any FTC age group in 2024.
- FBI IC3 data show the 60-and-over group submitted more complaints and lost more money than any other age group in 2024.
- Both the FTC and FBI IC3 note that fraud is widely under-reported, so all figures are floors rather than ceilings.
Frequently asked questions
Why do older adults lose more money per scam incident?
Researchers and agencies consistently note that older adults are more likely to be targeted by high-value schemes such as investment fraud and government impersonation, tend to have larger savings, and may be less likely to recognise or report a scam quickly. This combination can result in larger individual losses even when the frequency of reports is lower than for younger groups.