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03/14/2022

Fraud and older adults – what’s your story?

FTC

Every year millions of people report fraud, scams, and bad business practices to the FTC. Your stories help us better understand how fraud affects every community. During National Consumer Protection Week, we’re offering information and advice for some of these communities, and today we’re focusing on scams that have an impact on older adults.

  • Scammers are using social media for investment, romance, and online shopping scams. More than one in four people who reported losing money to fraud from 2020 - 2021 said it started on social media with an ad, a post, or a message. The most money was lost to investment and romance scams.

 

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