In 2025, scammer scams resulted in FTC fraud reports resulting in $3.5 billion in losses.

For the fifth year in a row, identity fraud ranks as the most commonly reported type of fraud in 2025, according to the latest data from the Federal Trade Commission.

According to FTC data, 80% of the approximately 1 million people who filed fraud reports did not lose money, while the remaining 20% ​​lost a total of $3.5 billion.

“Some consumers are losing out on very high amounts of money,” said Patty Hsu, chief of staff in the FTC’s marketing practice division.

“While the median loss ($700) is on the low side, the percentage of consumers with six-figure losses or more is very small,” Su said. “We do have some consumers who have lost more than $1 million.”

The total amount of fraud reported to the FTC in 2025 reached approximately $15.9 billion, a record high and an increase of approximately 27% from $12.5 billion in 2024. Since 2020, reported losses have increased nearly 430%, according to the FTC.

According to the FTC, this trend is primarily driven by a surge in the number of consumers who say they have been defrauded out of at least $100,000, and victims are more likely to be 60 or older.

Fraud involving losses of $100,000 or more in the same age group accounted for $1.6 billion (68%) of the $2.4 billion in total reported losses in 2024, according to the FTC’s 2025 Annual Report to Congress released in December.

“Although we receive a tremendous amount of fraud reports from people of all ages, older adults tend to report more financial losses than younger adults,” Hsu said.

In general, men and women are equally victimized by scammers, said Amy Nofziger, senior director of victim support for the AARP Fraud Watch Network, a free resource for consumers to learn about and report fraud.

However, she says, “We get more calls from women because they are almost always more likely to report victimization.”

Additionally, the female family member is often the one to report fraud on the male’s behalf, Nofziger said.

On the other hand, artificial intelligence can also make it harder to spot fraud.

“We’ve said in the past to look for spelling and grammatical errors,” Nofziger said. “Now that’s no longer the case. With the tools available to criminals, any text or email can sound 100% correct.”

In the area of ​​identity fraud, people impersonating businesses will fleece $1 billion in 2025, with the most reported losses coming from criminals posing as bank employees, according to the FTC. Another $920 million came from government impersonation. These numbers are up from $866 million and $789 million, respectively, in 2024.

“Recently, we’ve seen a change in identity fraud techniques,” Xue said. “It’s actually much more sophisticated than it used to be.”

One of the latest scammer scams is a hybrid of sorts, says Xue.

“It starts out as a business scam and usually says something like, ‘Your account has been compromised,’” Xue said, explaining that it can look like a text message, email or phone call from your bank. Amazon Or another famous brand.

When the victim responded, the perpetrator offered to transfer the person to a government agency such as the FTC or FBI. “Fake government officials will tell you that you need to move money to protect your account,” Su said.

“The real risk with this…is that consumers really think they’re moving their money around to protect their money,” she says.

Victims think they’re protecting their entire account, so “they’re actually moving all the money around. We’re talking bank accounts, Roth IRAs, 401(k)s,” Su said.

A new report from the CFP Standards Board, which sets and enforces standards for certified financial planners, finds that most people (62%) say they have been victimized by financial fraud or know someone who has been victimized by financial fraud in the past three years.

Nofziger said there are common red flags with scams. “Most scams have the same DNA,” she says. “They come in suddenly with a sense of urgency.”

Additionally, if the victim is asked to lie or keep the situation secret, that should be grounds for suspension. “You will not be asked to lie or keep secrets on any legitimate occasion,” Nofziger said.

Scammers also try to get their victims to react emotionally. “They’ll either scare you or excite you…’This is the FBI, you’re going to be in trouble if you don’t pay me,’ or ‘Sweet girl, I have a million dollars for you, send me a prepaid gift card to win the prize.’

“The biggest red flag is that they ask you to send money or personal information,” Nofziger said.

“Also keep in mind that caller ID, email, and other forms of communication can all disguise the origin of the call, so the person on the other end of the call may not necessarily be who they say they are,” Hsu says. Instead of responding to communications, reach out on your own, she said.

If you realize you’ve been victimized, it’s important to report it immediately, Xue said.

“Depending on the circumstances, the company or the police could try to get your money back,” she says. It can also be difficult to collect money after 24 or 48 hours, she said.

If you encounter identity theft, or any type of financial fraud, you can report it to the FTC through our website.

“Recognize that fraud is targeting all of us,” Nofziger said. “It has nothing to do with your educational background or your level of intelligence. What it really has to do with it is how you feel when you’re the target of a scam.”