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Kiplinger
Kiplinger
Business
Kathryn Pomroy

Retirement in the Age of Cyber Scams: How To Protect Your Next Chapter

FBI Facebook Medicare
Senior phone fraud concept. Mature woman distrusting phone call.

The 2025 bipartisan report, Age of Fraud: Scams Facing Our Nation’s Seniors, spotlights the growing financial threats facing older people. In 2024 alone, fraud and scams cost seniors a staggering $4.8 billion, with those aged 50-59 losing an additional $2.5 billion.

Melanie McGovern, Director of Public Relations at the Better Business Bureau, shares this information: The BBB’s 2024 Scam Tracker Risk Report shows that investment and cryptocurrency scams continue to be the riskiest for individuals 55 and above. Employment scams were the second riskiest for consumers aged 55 to 64, alongside romance scams. For those 65 and up, romance scams were the second most common, followed by home improvement scams.

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