AARP, Senate Leaders Urge Stronger Fraud Protections for Older Americans

From fake tech-support calls to bogus job postings, older adults today are navigating a minefield of increasingly sophisticated scams, each one threatening the savings they worked a lifetime to build. ​

​In 2023, an estimated $158 billion was stolen through scams and fraud, with losses for older adults reaching nearly $62 billion, according to the Federal Trade Commission. ​

​For older adults, becoming a target means losing more than their savings. It can cost them their homes, their independence and even their health. ​

​Cybercriminals stole more than $400,000 from one Florida resident in his 60s — the entire proceeds of his home’s sale. In a matter of seconds, he was facing homelessness. ​

​In another instance, a scammer stole more than $650,000 from an older man he befriended in an exercise class. ​

​Jeff Johnson, state director of AARP Florida, shared these and other devastating stories reported to the AARP’s Fraud Watch Network, a nationwide program that educates older adults on fraud risks and helps victims in their journey to recover. In 2024 alone, the AARP Fraud Watch Network Helpline fielded more than 100,000 calls from scam targets and victims, Johnson testified during an Aug. 7 hearing of the Senate Special Committee on Aging convened by Chairman Rick Scott, R-Fla. ​

​“Transnational organized crime groups are operating openly abroad, siphoning hard-earned money out of our local communities and economies,” said Johnson. “This is money that older adults had saved for their retirement — to spend on their hobbies, on travel, on their grandchildren — and instead it is lining the pockets of criminals abroad.” ​

​The financial cost is just part of the damage these crimes cause. ​

​“Research shows nearly 2 in 3 victims suffer a significant health or emotional impact,” Johnson said. “This is only worsened by the stigma and victim-blaming associated with fraud.” ​

​Scams have also become “harder to detect and more convincing” with the advent of artificial intelligence, deep fakes, cryptocurrency and social media, said Chairman Scott and Ranking Member Kirsten Gillibrand, D-N.Y., in a statement on the committee’s 2025 fraud report. ​

​That’s why AARP has urged lawmakers to strengthen fraud prevention through legislation targeting real estate and romance scams, cryptocurrency kiosk fraud, suspicious financial transactions and gift card theft. ​