
FTC Testimony Highlights the Rapid Growth of the Scam Economy
🚨 Scams Are Surging Nationwide — And Getting More Sophisticated
New testimony from the Federal Trade Commission reveals:
💸 Americans reported $15.9 BILLION lost to fraud in 2025
📈 Losses have increased 430% since 2020
📊 An estimated $195 BILLION may be lost annually due to underreporting
📱 Text messages and social media are now the top ways scammers reach victims
💰 Investment scams caused the highest losses — over $7.9 billion
Scammers are evolving fast — using impersonation, AI, crypto, and social engineering to target older adults and communities across Texas.
👉 The Texas Elder Justice Coalition is working to educate, connect, and protect older Texans.
🔗 Learn more: txelderjustice.org
📣 Report fraud: reportfraud.ftc.gov


