Fraud Doesn’t Discriminate: How Scammers Target Every Age Group

When you think of scams, you might picture a senior citizen answering a suspicious phone call. However, the truth is that scammers aren’t picky; they target people of all ages. Whether you're scrolling through social media in your 20s or checking emails in your 70s, there's a scam out there designed just for you.

According to the Federal Trade Commission (FTC), younger adults report fraud more often, but older adults lose the most money per incident. That means no one is immune, and understanding how scams affect each age group is the first step in protecting yourself and your loved ones.

Let’s break it down:

 In your 20s: Social Media Scam on the Rise

Young adults are actually more likely to report fraud than older adults.

• 44% of people ages 20–29 who filed fraud reports in 2024 reported losing money

• Median loss: $417

• Total losses: $430 million

Top scam: Online shopping fraud via social media
Standard payment methods: Payment apps like Cash App, Zelle, or Venmo

With so many young adults on Instagram, TikTok, and YouTube, scammers know precisely where to find them.

 

In your 30s: Identity Theft Takes the Lead

Adults in their 30s lose more money overall than those in their 20s.

• 40% reported losing money

• Median loss: $450

• Total losses: $810 million

Top scam: Identity theft
Common contact methods: social media & scam websites
Payment method: Mostly credit cards

Protecting personal information online is more important than ever.

In your 40s: Fewer Reports, Higher Losses

• Though fewer people in their 40s file fraud reports, the average loss is higher.

• 38% reported losses

• Median loss: $500

• Total losses: $971 million

• Top scam: Online shopping
  Common payment methods: Credit cards, payment apps, and debit cards

  Scammers continue to adapt, making even the savviest shoppers vulnerable.

In your 50s: Romance Scams Become Common

Adults in their 50s were less likely to report fraud, but total losses reached $1 billion.

• 35% reported losses

• Median loss: $520

• Top scam: Romance scams

Romance scams often start with online messages or dating apps, and end with requests for money. If someone you’ve never met in person is asking for money, it’s a scam.

In your 60s: Phone Scams and Big Losses

Fraud losses continue to rise with age.

• 29% reported losses
• Median loss: $691
• Total losses: $1.2 billion

Top scams: Romance and tech support scams
Standard contact method: Phone calls
Payment method: Gift cards or wire transfers

Be cautious of anyone asking for remote access to your computer or pressuring you to act fast.

In your 70s: Scammers Target Through Phone & Gift Cards

Adults in their 70s lose more money per scam than younger groups.

• 24% reported losses
• Median loss: $1,000
• Total losses: $887 million

Top scams: Tech support and sweepstakes scams
Payment method: Gift cards
Contact method: Phone

If someone wants to be paid in gift cards, it’s a scam every time.

In your 80s: Fewer Reports, Highest Individual Loss

Older adults are less likely to report scams, but when they do, the losses are massive.

• 21% reported losses
• Median loss: $1,650
• Total losses: $319 million

Top scams: Sweepstakes, lottery, and tech support
Common contact method: Phone

If it sounds too good to be true, it is. Be especially careful of calls claiming you’ve “won” something.

Final Thoughts

Fraud doesn’t have an age limit. From flashy social media shopping scams to fake tech support calls, scammers continually adjust their tactics to suit their targets. The more you know, the better you can protect yourself—and your loved ones.

• Stay alert.
• Talk about scams with your family.
• When in doubt, don’t click or send.

Stay informed. Talk to your family and friends about the red flags. And remember, if something feels off, it probably is. At Beacon Federal Credit Union, We’re Looking Out For You! If something seems suspicious, don’t hesitate to call or visit us. We're here to help keep your money and your peace of mind safe.

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