Recent testimony from the Federal Trade Commission (FTC) before Congress underscores a troubling reality: fraud and scams are increasing at an unprecedented pace across the United States, with significant implications for older adults and communities in Texas.

According to the FTC, consumers reported $15.9 billion in fraud losses in 2025, a sharp increase from prior years and part of a trend that has seen reported losses rise nearly 430% since 2020. Even more concerning, the FTC estimates that due to underreporting, the true cost of fraud could be as high as $195.9 billion annually.

The data reveals that imposter scams remain the most frequently reported, with over one million complaints in 2025 alone. However, investment scams account for the highest financial losses, totaling more than $7.9 billion and often involving increasingly sophisticated tactics, including cryptocurrency schemes.

The way scammers reach victims is also evolving. Text messages and social media platforms are now among the most common methods used to initiate scams, allowing bad actors to scale their efforts quickly and target individuals more effectively.

In response, the FTC continues to prioritize aggressive enforcement actions, consumer education, and partnerships with federal, state, and local agencies. In 2025 alone, the agency brought 40 enforcement actions and secured over $1.8 billion in relief for consumers affected by fraud.

For the Texas Elder Justice Coalition, these findings reinforce the urgency of coordinated, statewide efforts to protect older Texans. Through education, collaboration, and early intervention, TEJC is working to ensure that individuals, families, and professionals are equipped to recognize, report, and respond to financial exploitation.

As scams continue to evolve, awareness and action remain our strongest tools.

Published Report