You know I’m always looking at ways to empower you, better education and prepare you for the issues that come up as we age. Every week on this show, we talk about the things that impact your life as you age —your health, your money, and your peace of mind. And today, we’re covering something that touches all three: scams.
I’ve talked about these scams before. Scam artists are busier than ever and they are using new tools that make it trickier. Today I want to help you have some new tools to fight these scammers and protect your money which is what they are after.
Older adults are the main target and the victims with the biggest losses, according to newly released numbers from the Federal Trade Commission (FTC). And the losses are astronomical: a record $12.5 billion was reported stolen through scams and fraud last year, up 25 percent from $10 billion in 2023.
The overall cost of these crimes continues to skyrocket: Just four years ago, in 2020, Americans lost far less, $3.5 billion, to fraud, including identity theft.
The amount of money victims lose through fraud increases with age, partly because older people tend to have more to lose. Victims in their 60s claimed a jaw-dropping total of $1.18 billion stolen through fraud in 2024 alone.
The FTC found that among the victims who included their ages in their complaints, adults in their 70s reported losing a median of $1,000, compared with a median of about $417 reported by those in their 20s. The median reported losses for all ages in 2024 was $497.
The most commonly reported scams were imposter scams, in which criminals pretend to be government officials, police, businesses like Amazon or Paypal, a relative in trouble, celebrity, bank or tech support professional. Their goal is to steal money or personal data (or both). Government imposter scams, in particular, grew significantly — from $171 million in 2023 to $789 million in 2024.
These scams get my blood boiling and I have had a lot of folks lose money whether its romance scams, the 10-million-dollar Jamaican scam, or scammers pretending to be everything from a threatening government aging and your grandkids.
You may know someone whose been scammed. Maybe it was you? I’ve been a victim of identity theft. This is something that impacts all of us. Talking about fraud isn’t exactly fun. But staying informed? That’s empowering. And in 2025, being informed is more important than ever. Because of scams today? They aren’t just shady phone calls from someone claiming to be a prince. They’re smart. High-tech. And they’re after all of us.
Here’s a scenario:
You get a phone call. It sounds just like your grandson. He’s crying, saying he’s in trouble and needs money fast. Your heart drops. But guess what it’s not him. It’s an AI-generated voice created by a scammer using audio they found online.
So, if something feels off? Hang up. Call your loved one directly. Trust your gut. Maybe its time to create secret security codes with your loved ones?
That’s just one of the new scams out there.
Let’s break down the top scams you need to watch for in 2025. These are the ones causing the most harm—and the ones that can be hardest to spot – we will learn some new terminology today.
1. Phishing, Identity Theft & Deepfake Impersonators
Emails and texts that look like they’re from your bank, the IRS, or even Amazon. They tell you there’s a problem with your account. The message? Click here to fix it. But the link is fake, and the goal is to steal your personal information. I get these all the time – they usually warn you that your security has been breached or that you need to update the credit card on your account. Sound familiar – maybe they even have a logo in the email.
Watch out for: Urgent language, typos, links asking for login info. When in doubt, go directly to the company’s website – see if that same warning is there. More often it is not. Call the bank. Call your credit card company.
2. Text Message Scams (FTC Spotlight)
Here’s something alarming: the FTC reports text message scams are exploding. Why? Because people open text messages. A recent study showed open rates as high as 98%. Those are great odds—for the scammer.
You might get a fake alert from Amazon’s fraud department, or a message saying you owe a toll or miss a package delivery. I get these all the time from UPS – They’ll give you a link that looks like the USPS or your bank. But it’s fake, and once you click, they’re fishing for your credit card or even your Social Security number.
Red flags:
- Unexpected texts asking you to click a link.
- “Wrong number” messages that turn flirty or try to sell you something.
- Messages saying there’s an urgent charge or delivery issue.
Best advice: Don’t reply. Don’t click. Just delete. Especially if you didn’t order anything.
3. Employment Scams
You’re offered a job—maybe online, maybe from someone reaching out directly. Sounds great, right? But then they ask for money upfront for training or equipment. Or they send you a check, say it was an accident, and ask you to send part of it back.
Key tip: Real jobs don’t ask you to pay to work. And if you get a check and a request to send money back? It’s a scam.
4. Tech Support Scams
Older adults are five times more likely to fall for these. A pop-up on your screen says your computer is infected. Or someone calls claiming to be from Microsoft or Norton. They say they can help—but only if you give them remote access or pay a fee.
Don’t do it. Microsoft will never call you. If you didn’t initiate the call, it’s a scam.
5. Romance Scams
These are especially cruel. Scammers build online relationships and then ask for help—money for a plane ticket, a hospital bill, or a business deal gone wrong. In 2023 alone, older adults lost over a billion dollars to romance scams.
Red flags: They fall in love fast, avoid video chats, and ask for money—especially in gift cards or cryptocurrency.
6. Cryptocurrency & Investment Scams
Bitcoin reached $100,000 at the end of 2024. Great news for investors—but scammers jumped in fast. They use fake apps, flashy websites, or even romance scams to lure people into “investing.” Then vanish with the money.
If someone you met online promises you guaranteed returns—or says they can teach you how to trade crypto—it’s probably a scam.
These are a few of the “new” games in town. Of course, there are other scams that are downright persistent…. why? Well because they are so profitable, right? I saw a special report on the Jamaican lottery scam – FBI just made some big arrests in this case. Feb 2025 arrested 8 Jamaican national in mobile Alabama making those phone calls to gain your credit card – all under the guise that you’ve won 10-million-dollar Jamaican lottery and just need to pay the taxes to release the prize.
Of course there’s no prize. Scammers are making big money You should see the houses that these scammers are building on those Jamaican islands Montego Bay with your money.
Seniors are the target more often than not and its results in big losses – Victims in their 60s claimed a jaw-dropping total of $1.18 billion stolen through fraud in 2024 alone.
Some of them are also down right persistent. I’m sure most of you had received the phone call that your car warranty is about to expire.
These scams may not be new, but they’re still going strong:
- Fake Sweepstakes and Lottery Winnings – You “won,” but have to pay fees first? Nope. Real lotteries don’t charge you to claim your prize.
- Debt Collection Threats – Scammers posing as collectors demand immediate payment, sometimes threatening arrest. Don’t fall for it.
- Fake Government Officials – The IRS, Medicare, or FBI demanding payment? That’s a scam. The government doesn’t do business by threatening phone call.
- Medical Alert Systems – Offers for “free” systems if you just give your bank info. Don’t bite. If it’s really from a loved one, verify it first.
So more importantly how do you protect yourself – if you’re a caregiver how to you protect your loved ones from becoming a target. Here are a few suggestions.
Let’s go over the essentials:
1. Be Skeptical. If it feels off, it probably is. Take your time before acting on any message, phone call, or email.
2. Never Click Suspicious Links. Especially in texts or emails from people you don’t know—or didn’t expect.
3. Verify, Then Respond. Don’t trust caller ID. Don’t trust links. Call your bank, the company, or the person directly using a verified number.
4. Use Strong Passwords. And set up two-factor authentication whenever you can.
5. Talk About Scams. One of the best ways to stop a scam is to talk about it with family and friends. You might save someone else from becoming a victim.
And if you’ve become a victim – stay tuned to the end and I’ll tell you how to report it
So the Federal Trade Commission and the FBI is the major enforcer when it comes to these crimes. Just came out with some new figures for 2025.
- There were around 1.14 million reports of identity theft last year; about 450,000 were related to credit card fraud.
- Scammers stole a reported total of $584 million from people in the military community in 2024, up from $477 million in 2023.
- Email was the most common way scammers approached their victims, followed by phone calls and texts. Criminals also favored social media platforms.
- Among those who reported losing money to a scam, the most significant losses were through bank transfers (more than $2 billion) and cryptocurrency ($1.42 billion).
Main open door is still your phone and if you’re on the computer – you’re email. It requires more diligence in sorting through incoming emails, calls and even text messages.
Where to report fraud
If you spot a scam or have been victim of one, report it to the Federal Trade Commission (FTC) at reportfraud.ftc.gov and the Federal Bureau of Investigation’s Internet Crime Complaint Center at IC3.gov. The more information they have, the better they can identify patterns, link cases and ultimately catch the criminals. Here, locally you can call the Hamilton County Sheriff’s Office property crime unit at 423-209-8940
Scams and Safety — FBI “Be Crime Smart”
Unfortunately scams are big business – requires us to be more vigilant – I know I will to share resources and information that hopefully will make you more aware and avoid you from becoming a victim.
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Disclaimer: The information provided on this website and on the podcast is not intended to be considered as legal advice or constitute an attorney/client relationship as provided under the Tennessee Rules of Professional Conduct.
