A new Federal Trade Commission (FTC) report reveals a staggering rise in the number of older adults being targeted for impersonation scams, as well as an increase in the amount of money lost to these scams.  

The FTC report highlighted a fourfold increase in the number of adults who have reported losing $10,000 or more in impersonation scams from 2020 to 2024. In some cases, victims reported losing their entire life savings. 

The Identity Theft Resource Center also reported that impersonation scams have become its top-reported type of scam, with a 148% increase year-over-year. 

IdentityIQ Data Confirms Growing Scams Targeting Older Adults

IdentityIQ, a leading identity theft protection and credit monitoring platform, also found a similar alarming pattern. The company’s Fraud Restoration Department reported a nearly 60% increase in impersonation scams targeting adults aged 60 and older in 2024 compared to the previous year. The 2025 data thus far indicates that the number of impersonation scams reported by older adults is likely to surpass last year’s totals.

“We’re seeing a troubling increase in impersonation scams targeting older adults,” said cybersecurity and scam prevention expert Michael Scheumack, chief innovation officer at IdentityIQ. “Fraudsters are deliberately preying on this age group, knowing they can be more vulnerable and have more to lose.”

What Is an Impersonation Scam?

An impersonation scam happens when a criminal pretends to be someone you know, such as a family member or friend, or an official you trust, such as a government or bank representative. 

Artificial intelligence (AI) tools are making impersonation scams even easier. In AI voice cloning scams, criminals use AI tools to clone real voices with accuracy, making it difficult to tell if a phone call or video call is coming from the actual person or is a cloned voice being used by a scammer. 

Why Older Adults Are Being Targeted for Impersonation Scams

Unfortunately, older Americans are a popular target for scams as criminals go after their identity and money. Older adults are vulnerable to scammers because:

  • They may be less familiar with the latest scam and fraud tactics, especially cybercrime.
  • They have retirement savings and assets.
  • They are more likely to trust phone calls, emails, and other communications that appear official.
  • They might be isolated and living alone due to the loss of a spouse or other family members and friends. 

This makes awareness of these fraud tactics and having safeguards in place critical to helping avoid these scams.

How to Avoid Falling for Impersonation Scams

Taking proactive steps to protect yourself and your loved ones is important. Here are expert-recommended tips to help reduce your risk:

Verify. If you receive a call, email, or text from someone claiming to be from the IRS, your bank, or another trusted organization, hang up and contact the organization directly using their official phone number.

Don’t send gift cards or transfer funds on request. Legitimate agencies will never ask you to pay in gift cards or transfer funds to “protect” your accounts. Doing so puts your money in the hands of scammers.

Be skeptical of urgent demands. Scammers use pressure tactics and time-sensitive threats. They create a false sense of urgency to pressure you to act quickly and without thinking.

Use strong security. Enable two-factor authentication, keep software updated, and use unique passwords for each account.

Get identity theft protection. Services such as IdentityIQ identity theft protection provide real-time credit monitoring, fraud alerts from all three major credit bureaus, dark web surveillance, and expert fraud restoration support if your identity is compromised. Having identity theft protection in place can make the difference between catching fraud early and losing thousands of dollars.

Stay Protected

As impersonation scams rise at disturbing rates and cost victims more and more money, especially older adults, staying informed and protected is key. Protect yourself today with IdentityIQ identity theft protection services to stay ahead of scammers and safeguard your financial future.