Imposter ScamsRemain Top Fraud Reported to FTC for Fifth Consecutive Year, Resulting in $3.5 Billion in Losses

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Imposter scams topped the list of most reported fraud types for the fifth consecutive year in 2025, according to the Federal Trade Commission’s latest data.

Of the approximately one million individuals who filed an imposter scam report, about 80% did not experience financial loss, while the remaining 20% collectively lost $3.5 billion, per FTC data.

“There are some consumers who are losing very high‑dollar amounts,” said Patty Hsue, chief of staff for the FTC’s Division of Marketing Practices.

Further Insights from Women and Wealth

While the median loss of $700 is modest, a small fraction of consumers have reported losses exceeding six figures, with some surpassing $1 million, Hsue noted.

Losses from Scams Valued at $100,000 or More

Total fraud losses reported to the FTC in 2025 amounted to roughly $15.9 billion, marking the highest annual total on record and a 27% increase from $12.5 billion in 2024. Since 2020, reported losses have risen nearly 430%, according to the FTC.

This trend is primarily driven by a notable rise in the number of consumers reporting losses of at least $100,000, a demographic that disproportionately includes individuals aged 60 and older, the FTC said.

Scams resulting in losses of $100,000 or more among this age group represented $1.6 billion — 68% — of the $2.4 billion in total losses reported in 2024, per the FTC’s 2025 annual report to Congress released in December.

“Although we receive countless imposter reports from people of all ages, older adults tend to report higher monetary losses than younger adults,” Hsue explained.

According to Amy Nofziger, senior director of victim support for the AARP Fraud Watch Network — a free resource that helps consumers learn about and report scams — men and women experience equal victimization.

“In practice, we hear from women more frequently because they are more likely to report their victimization,” she noted.

Additionally, in many instances a female family member reports the fraud on behalf of the male victim, Nofziger said.

Meanwhile, advances in artificial intelligence are making scams increasingly difficult to detect.

“Previously we advised looking for spelling errors or poor grammar,” Nofziger recalled. “Today, that warning is obsolete; criminals can craft any text or email to appear completely legitimate.”

Bank Impersonators Drive Majority of Imposter Scam Losses

Within the imposter scam category, business impersonators accounted for $1 billion in losses in 2025, with the largest share stemming from fraudsters posing as bank representatives, according to the FTC. Government‑impersonation scams contributed an additional $920 million, up from $866 million in 2024.

“We have observed a shift in how imposter scams operate today,” Hsue said. “They are considerably more sophisticated than in the past.”

One emerging imposter scam combines multiple tactics, Hsue explained.

The real risk with this … is that consumers really think they are moving their money to protect it.

Patty Hsue

Chief of staff for the FTC’s Division of Marketing Practices

“It begins as a business imposter scam, typically claiming ‘your account has been compromised,'” Hsue said, explaining that it may appear as a text, email, or call from your bank, Amazon or another well‑known brand.

Upon the victim’s response, the fraudster claims to transfer them to a government agency such as the FTC or FBI, stating, “A fake government agent tells you that you need to move your money in order to protect your account,” Hsue said.

“The real risk with this … is that consumers genuinely believe they are moving their money to protect it,” she said.

“Because the victim believes they are safeguarding their entire account, they move all of their funds — bank accounts, Roth IRAs, 401(k)s,” Hsue said.

Key Red Flags to Watch For

A recent CFP Board of Standards report indicates that 62% of individuals have encountered financial fraud in the past three years or know someone who has.

Nofziger notes that scams share common characteristics: “Most scams have the same DNA,” she said, “and they often appear out of the blue with a sense of urgency.”

Moreover, if a victim is asked to lie or keep the matter secret, that should raise concerns, Nofziger warned, adding, “No legitimate opportunity will request you to lie or keep it a secret.”

Fraudsters also aim to provoke emotional reactions, such as fear or excitement, for example: “This is the FBI and you’ll be in trouble if you don’t pay me,” or “Sweet baby, I have $1 million for you — send me prepaid gift cards to claim your prize.”

The biggest red flag of all is that they’re asking you to send money or your personal information.

Amy Nofziger

Senior director of victim support for the AARP Fraud Watch Network

“Caller IDs, emails, and other communication channels can be spoofed, so you can’t always trust the source,” Hsue said. “Instead of replying, verify independently,” she advised.

If you realize you have been victimized, it’s important to report it promptly, Hsue advised.

“In some cases, either the company or law enforcement may attempt to recover your money,” she said. “In other situations, recovery becomes difficult after 24 or 48 hours,” she added.”

“Recognize that scams target everyone,” Nofziger said. “They are unrelated to your education or intelligence level; they exploit emotional vulnerability at the moment of the scam.”

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