BBB warns of impersonation scams targeting older adults
JACKSON, Tenn. — Older adults are losing big to impersonation scams.
The Federal Trade Commission’s latest consumer protection data spotlight shows a huge jump in losses reported by people ages 60 and over to these types of impersonation scams in the last four years.
Older adults who lost more than $100,000 increased eight-fold from 2020 to 2024.
While younger consumers also have reported these scams, older adults were much more likely to report these extraordinarily high losses.
The lies these scammers tell generally take three forms:
- Someone is using your accounts.
- Your information is being used to commit crimes.
- There’s a security problem with your computer.
To avoid such scams, don’t move money to “protect it.” Instead, hang up, verify with the proper authorities and block unwanted calls.
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