Updated Dec. 18, 2025, 6:17 p.m. ET
Phony promises to triple your retirement savings and other wild schemes engineered by scammers can stir up all sorts of financial woes for seniors.
According to a new report from the Federal Trade Commission, older adults reported losing far more money to investment scams than to any other type of fraud in 2024.
Many times, consumers described being lured to fake cryptocurrency investment platforms or losing money to other scams after being targeted on social media, according to the FTC report.
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