Imposter scams led fraud reports to FTC in 2025, $3.5 billion losses
Rain star | E+ | Getty Images
Imposter scams ranked first for the fifth consecutive year most reported type of fraud in 2025, according to the latest data from the Federal Trade Commission.
According to data from the FTC, 80% of the approximately 1 million people who filed fraudulent fraud reports did not lose any money, while the other 20% lost a total of $3.5 billion.
“There are some consumers who are losing very high dollar amounts,” said Patty Hsue, chief of staff for the FTC’s Marketing Practices Division.
“Average loss [of $700] On the lower end, but there’s a very small percentage of consumers who have losses in the high six figures or higher,” Hsue said. “There are definitely some consumers who have lost over $1 million.”
Losses from scams costing $100,000 or more
Total fraud losses reported to the FTC in 2025 reached approximately $15.9 billion; that’s the highest figure on record and a nearly 27% increase from $12.5 billion in 2024. Since 2020, reported losses have increased by nearly 430%, according to the FTC.
According to the FTC, this trend is largely due to a sharp increase in the number of consumers who say they have been defrauded of at least $100,000; This condition is more common among victims age 60 and older, according to the FTC.
Scams involving losses of $100,000 or more among this age group accounted for $1.6 billion, or 68%, of the $2.4 billion total losses reported in 2024, according to the FTC’s 2025 report. Annual report to CongressIt was published in December.
“While we receive tons of fraud reports from people of all ages… older adults tend to report greater loss of money than younger adults,” Hsue said.
Amy Nofziger, senior director of victim support, said men and women in general are victimized equally by scammers. AARP Fraud Tracking NetworkA free resource where consumers can learn about and report scams.
But “often we hear more from women because they are more likely to report their victimization,” he said.
Additionally, in many cases, it was a female family member who reported the fraud on the man’s behalf, Nofziger said.
Meanwhile, artificial intelligence can also make it harder to spot scams.
“We would tell them to look for spelling mistakes or poor grammar,” Nofziger said. “That’s no longer the case. With the tools available to criminals, they can make any text or email appear 100% accurate.”
Bank impersonators cause losses through fraud scams
In the imposter scam category, business impersonators missed $1 billion in 2025; The highest reported losses were attributed to criminals pretending to work for a company. Bank according to the FTC. Another $920 million came from government impersonators. These figures increased to $866 million and $789 million respectively in 2024.
“We have seen a change in how imposter scams work these days,” Hsue said. “It’s really becoming more complex than it has been in the past.”
One of the new spoofing scams is a hybrid of sorts, Hsue said.
The real risk with this is that consumers may actually think they are moving it to protect their money.
Patty Hsue
FTC Marketing Practices Division Chief of Staff
“This starts out as a merchant fraud scam, usually something along the lines of ‘your account has been compromised,’” Hsue said, explaining that it could look like a text message, email or call from your bank. Amazon or any other well-known brand.
When the victim responds, the criminal says he or she is transferring the person to a government agency such as the FTC or FBI. “A fake government official is saying you need to move your money to protect your account,” Hsue said.
“The real risk of this is that consumers really think they’re moving their money to protect it,” he said.
Because the victim thought he was protecting his entire account, “they’re literally moving all of their funds. You’re talking about bank accounts, Roth IRAs, 401(k)s,” Hsue said.
Red flags to watch out for
A majority of people (62%) say they have experienced financial fraud in the last three years or know someone who has, according to one study. new report From the CFP Standards Board, which sets and enforces standards for certified financial planners.
Nofziger said there are red flags that are common among the scams. “Most of the scams have the same DNA,” he said. “They come out of nowhere with urgency.”
Additionally, if the victim is being asked to lie or keep the situation a secret, this should be a reason to pause. “No legitimate opportunity would ask you to lie or keep it a secret,” Nofziger said.
Scammers also try to get victims to react emotionally. “They’ll grab you with fear or excitement… ‘This is the FBI and you’re going to be in trouble if you don’t pay me,’ or ‘Sweet baby, I’ve got $1 million for you, so send me prepaid gift cards to win your reward.'”
“The biggest red flag is if they ask you to send money or personal information,” Nofziger said.
The biggest red flag is if they ask you to send money or personal information.
Amy Nofziger
senior director of victim support for the AARP Fraud Tracking Network
Also keep in mind that “caller IDs, emails, and all of these forms of communication can spoof where it’s coming from, so you can’t always trust that this is necessarily the entity you’re talking to,” Hsue said. Reach out independently rather than responding to communications, he said.
If you realize you’ve been victimized, you should report it immediately, Hsue said.
“In some cases, the company or law enforcement may try to get your money back,” he said. In other cases, it may be difficult to get the money back after 24 or 48 hours, he said.
If you encounter an imposter scam or any type of financial fraud, you can report it to the FTC. via their website.
“Remember that scams target all of us,” Nofziger said. “This has nothing to do with your education or level of intelligence. It actually has to do with your emotions when the scam targets you.”
