04/20/2026
Fraud and scams pose a serious financial risk for older Americans, yet many underestimate just how much the average person loses to fraud.
Most U.S. adults age 50+ estimate average fraud losses to be in the thousands. Fewer than 1 in 5 believe losses exceed $50,000. But in 2024, the average loss for adults 60+ was $83,000.
Based on our recent survey findings, we're seeing strong agreement on what could help:
• 98% of adults age 50+ say social media companies should remove scam ads
• 98% say phone companies should do more to block scam calls and texts
• 97% support banks and payment apps stepping in to stop suspicious transactions before money is sent
• 93% say stronger protections are needed for gift cards
Ultimately, staying safe from fraud shouldn’t fall on individuals alone. There’s a clear call for stronger protections across the board.
What do you think would help you feel more protected from fraud?
Link in comments to learn more.