FTC Report Puts Older Adults' Fraud Cost at Up to $119.5B

The news: The Federal Trade Commission released its latest annual report to Congress on protecting older adults, a major piece of federal consumer protection reporting. Titled Protecting Older Consumers 2025-2026, it describes the agency’s work against unfair or deceptive practices that hit older Americans. It also analyzes fraud reports filed by older consumers. The FTC’s data analysis estimates that fraud may have cost older adults as much as $119.5 billion in 2025.

Key takeaways:

• The report estimates the overall cost of fraud to older adults in 2025 could be as high as $119.5 billion.
• It covers three areas of FTC work: law enforcement, consumer education and outreach, and coordination with partners.
• It draws on fraud reports submitted by older adults to identify trends.
• The agency says it will take “every action necessary” to shut down fraud operations.

Why it matters: The $119.5 billion figure is an estimate, and the FTC frames it as an upper bound (“as high as”). Even so, it signals how large the problem may be for retirees and people nearing retirement. Scams aimed at older adults can drain savings that households cannot easily rebuild. That makes fraud a retirement-security issue as well as a crime issue.

The FTC’s data comes from consumer reports, so it reflects what people tell the agency. Estimates built on those reports typically try to account for the many victims who never come forward. That is why the agency presents a range rather than a single hard count.

The big picture: Christopher Mufarrige, director of the FTC’s Bureau of Consumer Protection, said the agency is “committed to protecting older Americans from scams.” He said the report shows enforcement actions, outreach efforts and other initiatives meant to defend older adults from “fraudulent enterprises” and to teach Americans how to protect themselves.

The report’s structure shows the FTC’s approach. Lawsuits and enforcement actions go after operators. Education campaigns try to reach people before they lose money. Partnerships extend the agency’s reach, since the FTC cannot monitor every scam on its own. For households, the practical lesson is that reporting fraud feeds the same data the agency uses to set priorities.

What’s next: The report goes to Congress, where lawmakers can use it to weigh oversight, funding and legislation on fraud and elder protection. Readers should watch for further FTC enforcement announcements and new outreach materials. Families can also expect more guidance on spotting scams. Anyone who has been targeted can report it to the FTC. Those reports shape the next round of figures.