New Federal Bill Would Protect Against Elder Financial Fraud: Until It Passes, Here's What States Are Doing to Help
In 2025 alone, seniors lost $7.748 billion to financial fraudsters. Tighter laws may help.
Overview
While it's true that anyone can fall victim to financial fraud, the issue has become particularly critical for seniors. In 2025, online scams alone cost older Americans $7.748 billion, a startling 59% year-over-year jump from 2024.
As you prepare for retirement, you never expect someone to slip in and steal your hard-earned savings. And yet, it happens to even the most prepared retiree. For example, there were $1 billion in tech support scams, $584 million in romance scams, and $568 million in business email scams in 2025. The greatest losses, though, were due to investment fraud, with seniors losing at least $3.5 billion.
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Originally published at www.fool.com.