Americans Lost $3.5 Billion to Imposter Scams in 2025 as Senior Six-Figure Losses Soared
Updated
Updated · Empower · Oct 23
Americans Lost $3.5 Billion to Imposter Scams in 2025 as Senior Six-Figure Losses Soared
3 articles · Updated · Empower · Oct 23
Summary
$3.5 billion was reported lost by Americans to imposter scams in 2025, making scam-related theft the sharpest new warning in Empower's consumer finance roundup.
Nearly sevenfold growth in six-figure losses among adults 60 and older between 2020 and 2024 shows the damage is increasingly concentrated in high-impact cases.
Scammers used several playbooks: posing as banks or government officials, cultivating trust through online romances, and sending phishing emails or texts to extract sensitive financial information.
Empower urged three basic defenses—pause, verify and protect—framing the losses as a threat not just to cash on hand but to lifetime savings and retirement security.