Americans lost a shocking $3.5 billion to imposter scams in 2025, according to data from the Federal Trade Commission (1). These losses are around three times greater than in 2020. Imposter scams were the leading cause of fraud last year, with almost one in three fraud reports related to scammers impersonating others via phone, text, or other means.
Imposter scams involve a criminal pretending to be someone they're not, like a bank rep or government official, to convince the victim to give them money or personal details. These scams often target older Americans (2), but it's not just seniors who pay the price. Young people can find themselves facing financial losses too — in some cases because they tried to help a parent.
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Imposter scams involve a criminal pretending to be someone they're not, like a bank rep or government official, to convince the victim to give them money or personal details. These scams often target older Americans (2), but it's not just seniors who pay the price. Young people can find themselves facing financial losses too — in some cases because they tried to help a parent.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
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Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going
4 months ago
