FBI reports $20.9 billion in internet crime losses in 2025
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The FBI just released its latest annual report on Internet crime, and the numbers are staggering: Americans filed 1,008,597 complaints with the Internet Crime Complaint Center (IC3) last year, with losses approaching $20.9 billion.
Buried in the new data is an eerily familiar trend that is becoming more costly for older people. Identity theft complaints involving Americans 60 and older totaled 5,359 complaints and $48.5 million in reported losses in 2025, a sharp increase from the previous year.
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DO YOU KNOW THE TRUE COST OF IDENTITY THEFT?
Identity theft linked to major data broker breaches has cost Americans more than $20 billion over the past decade, according to a Senate report analyzing hundreds of millions of exposed records. (Sara Diggins/The Austin American Statesman via Getty Images)
Seniors account for a disproportionate share of losses
The report shows a clear dividing line by age. Americans 60 and older filed more than 200,000 claims in 2025, with reported losses reaching $7.7 billion, the highest total of any age group. In comparison, people in their 30s and 40s filed more complaints overall, but reported lower total losses. Senior complaints more often involve bank accounts, retirement funds and investment portfolios, where a single incident of identity fraud can result in a large withdrawal or transfer.
IC3 data is based on self-reported complaints submitted by victims and businesses throughout the year. Each report includes details such as transaction type, payment method, and estimated losses. The FBI aggregates this information to identify where money is flowing and which groups are affected.
Identity theft shows up in this data as one of many types of fraud. Identity theft attracts fewer complaints than categories such as investment or tech support scams. In many cases, it is used to access existing accounts, where stolen personal data can pass verification checks and move funds.
Identity theft losses lag behind other types of fraud
Investment scams dominated all categories in 2025, with reported losses of more than $4.5 billion. Business email compromise followed, with losses exceeding $2.9 billion, while tech support scams accounted for more than $1 billion. These categories represent a significant portion of the $7.7 billion in total losses mentioned previously.
Identity theft falls below these totals, although some of these cases still play a part. Among victims aged 60 and older, identity theft complaints totaled $48.5 million in reported losses last year. This represents an increase of around 70% compared to 2024.
Other federal data shows how common identity theft remains. The Federal Trade Commission (FTC) receives more than 1 million reports of identity theft each year, making it among the most frequently reported consumer problems, although total losses remain lower than other types of fraud.
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How do victims get scammed?
Complaints from older Americans cover a wide range of fraud types, with a few categories consistently appearing in IC3 reports.
- High-volume scams: The most commonly reported complaints include phishing and identity theft, tech support scams, and government identity theft, all of which involve direct contact via phone calls, emails, or online messages. Other commonly reported cases include non-payment or non-delivery scams, extortion and personal data breaches, each contributing to the overall volume of complaints among victims aged 60 and over.
- High loss scams: The categories related to the largest losses are different. Investment scams, business email compromises, and trust or romance scams account for a significant portion of reported losses, even with fewer complaints.
- New categories also appear in the 2025 data. AI-related scams are included for the first time, with thousands of complaints and substantial losses reported among elderly victims. Charity fraud is also listed as a newly reported type of fraud for this group.
An identity theft victim in Albany, New York, reviews the documents he has collected. Victims of identity theft often spend weeks disputing fraudulent accounts, contacting lenders and restoring their credit reports after misuse of stolen data. (John Carl D’Annibale/Albany Times Union via Getty Images)
How to avoid these scams
As losses mount, knowing how these scams work and how to spot them quickly can make all the difference.
1) Limit how personal information is shared
Use caution when asked for Social Security numbers or account credentials. Government agencies, banks and technology companies do not request this information through unsolicited calls, emails or messages.
2) Take a break before sending money
The scams that result in the biggest losses often involve urgency. Requests for rapid money transfers – including bank transfers, cryptocurrency or gift cards – should be treated with caution. Taking the time to verify the application can prevent significant losses.
3) Check contacts independently
If a message claims to be from a bank or government agency, use a known phone number or official website to confirm. Do not rely on the contact details provided in the message itself.
4) Monitor unusual account activity
Regularly review bank and investment accounts for unknown transactions. Minor or unexpected changes can be a warning sign of unwanted access.
5) Use account protections when available
Enable two-factor authentication and account alerts when possible. These tools can help report or block unauthorized access attempts.
Monitoring can help detect identity abuse earlier
In cases of identity theft, the first sign may be a new account or a transaction that the account holder did not authorize. Credit monitoring and identity protection services can track activity in credit reports and financial accounts, alerting users when new accounts are opened or when personal information appears in known data breaches.
This can give victims a chance to take action, such as freezing credit, locking accounts, or disputing fraudulent activity, before they lose money. Many services also offer identity theft insurance and fraud resolution assistance, helping cover some losses and guiding victims through the recovery process.
If fraud occurs, this assistance may include working directly with banks, credit reporting agencies and creditors to restore accounts and remove fraudulent activity.
For older Americans, whose accounts often contain larger balances, timing can mean the difference between a small loss and a much larger loss, as well as how quickly accounts are restored.
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No single service can prevent all types of identity theft. However, monitoring tools and guided recovery assistance can facilitate early detection of suspicious activity and enable rapid response.
Check out my tips and top picks on the best identity theft protection at Cyberguy.com
Kurt’s Key Takeaways
OpenAI joins the Global Anti-Scam Alliance as bad actors use AI to scam victims out of money and data. (Halfpoint/Getty Images)
The numbers tell a clear story. Although identity theft doesn’t top the list of total losses, it plays a vital role in the success of many of the biggest scams. For older Americans, the stakes are higher because the targeted accounts often hold decades of savings. What stands out is not just the increase in complaints. This is how fraud evolves. Fraudsters combine their tactics: They use identity theft to unlock accounts, then transfer money through investment scams, identity theft schemes, or social engineering attacks. Once they get in, the damage can get worse quickly. The takeaway recipe is simple. Slowing down, verifying requests, and adding basic protections like alerts and two-factor authentication can make a real difference. Early detection of suspicious activity often determines whether a loss remains minimal or life-changing.
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