WASHINGTON — New Federal Trade Commission data reveals a more than four-fold increase since 2020 in reports from adults 60 and older who lost $10,000 or more to impersonation scams, with combined losses for those reporting over $100,000 jumping eight-fold from $55 million in 2020 to $445 million in 2024. These schemes, where fraudsters pose as government officials or businesses to trick victims into transferring funds under the guise of protection, have hit older adults hard nationwide, with the FTC noting that while younger consumers report similar incidents, seniors face disproportionately high losses. In Maryland, older residents reported contributing to nearly $4.9 billion in national fraud losses in 2024, a 43% increase from the previous year, amid 40,000 statewide fraud reports.
The FTC’s Consumer Protection Data Spotlight highlights how scammers contact victims with urgent, fabricated problems, persuading them to move money for supposed safety—only to steal it. Common lies include claims of unauthorized account activity from banks or companies like Amazon, warnings that personal information is linked to crimes such as money laundering, or fake computer security alerts mimicking Microsoft or Apple prompts. Some even impersonate FTC staff, demanding cash transfers to Bitcoin ATMs or courier handoffs—actions the agency never requests.
Nationally, the FTC reported $12.5 billion in total scam losses for 2024, a 25% increase, with investment fraud and job scams topping the list alongside impersonation schemes. Older adults reported losing $2.3 billion to fraud overall in 2024, with those 70 and older accounting for much of that figure. The FBI noted a record $4.9 billion lost by seniors to scams in 2024, an 11% rise from 2023, with investment scams causing $1.8 billion in losses for those 60 and up. In Maryland, authorities have seen similar patterns, with $80 million lost to elderly scams in 2024 alone. Recent cases include gold bar schemes where victims lost millions after scammers claimed identities were compromised and convinced them to buy and deliver gold. In one instance, a perpetrator collected nearly $800,000 in gold from a resident in March 2025, leading to a 6 1/2-year prison sentence.
Maryland law enforcement has fielded multiple reports of scammers posing as officials, claiming outstanding warrants or missed jury duty to demand payments via gift cards or cryptocurrency. The Maryland Attorney General’s Office emphasizes verification, advising residents to hang up on suspicious calls and contact agencies directly using known numbers. AARP Maryland’s PROTECT Week spotlights elder financial abuse, noting average losses per victim exceed those in other age groups. The Maryland Department of Aging provides resources on elder financial exploitation, detailing how caregivers or scammers steal checkbooks or credit cards from vulnerable individuals. The agency urges reporting to Adult Protective Services at 1-800-332-6347, available 24/7.
Prevention remains key, as the FTC advises never transferring money in response to unsolicited contacts and using call-blocking tools to filter unwanted calls. Experts recommend education on red flags such as unknown callers, unusual payment methods and pressure to act quickly. In Maryland, initiatives like scam awareness workshops help older adults and caregivers spot fraud. Residents can report suspicions to the National Elder Fraud Hotline at 1-833-372-8311 or local authorities. The U.S. Attorney’s Office for the District of Maryland prosecutes such cases under its Elder Justice Initiative, focusing on romance fraud and gift card scams impacting seniors.
Recent prosecutions highlight the issue: In June 2025, federal authorities detailed cases involving schemes defrauding elderly victims through mailing lists, resulting in guilty pleas. A Florida man faced charges in July 2025 for a tech support scam that bilked $20,000 from a Maryland senior. These incidents reflect a national uptick, with the FBI reporting $3.4 billion in elder fraud losses in 2023, rising 11%. Worldwide, people 60 and older lost a combined $3.4 billion to financial scammers in 2023 alone.
Maryland’s aging population makes the state susceptible, with advocates pushing for community responses to prevent financial exploitation through education and remedies. The Maryland Senate Aging Committee’s 2024 fraud book outlines scams like gift card demands, which seniors reported most frequently. Residents can access FTC resources at consumer.ftc.gov for alerts and reporting at ReportFraud.ftc.gov.
As scams evolve with AI and digital tactics, experts stress family discussions on warning signs, such as urgent demands or unfamiliar payment requests. In Howard County, a man lost $5,000 to police impersonators in June 2025, sharing his story to alert others. Baltimore County held AI scam workshops in July 2025, estimating one in 10 seniors as victims. These patterns signal the need for ongoing awareness to protect vulnerable individuals.
