FBI announces cybercrime losses of $20.9 billion in 2025

There’s an oddly familiar trend buried in the new data: It’s becoming more expensive for older people. Identity theft complaints involving Americans 60 or older totaled 5,359 complaints and $48.5 million in reported losses in 2025, a sharp jump from the previous year.

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Do you know the true cost of identity theft?

Identity theft linked to breaches of major data brokers has cost Americans more than $20 billion over the past decade, according to a Senate report that analyzes hundreds of millions of exposed records. (Sarah Diggins/The Austin American-Statesman via Getty Images)

Older people bear a disproportionate share of the losses

The report shows a clear line by age. Americans 60 and older filed more than 200,000 complaints in 2025, with reported losses reaching $7.7 billion, the highest total for any age group. In comparison, people in their 30s and 40s filed more complaints overall, but reported fewer overall losses. Complaints from seniors often involve bank accounts, retirement funds, and investment portfolios, where a single incident of identity fraud can result in large withdrawals or transfers.

IC3 data is based on self-reported complaints filed by victims and businesses throughout the year. Each report includes details such as transaction type, payment method, and estimated losses. The FBI compiles these submissions to determine where money is moving and which groups are affected.

Identity theft appears within this data as one of several types of fraud. Identity theft raises fewer complaints than categories such as investment or technical support scams. In many cases, it is used to access existing accounts, where stolen personal details can pass checks and transfer funds.

Identity theft losses follow other types of fraud

Investment fraud topped all categories in 2025, with reported losses reaching more than $4.5 billion. This was followed by a commercial email breach, with losses exceeding $2.9 billion, while technical support scams accounted for more than $1 billion. These categories make up a large share of the total losses of $7.7 billion mentioned previously.

Identity theft falls under these aggregates, although it remains part of how some of these cases arise. Among victims ages 60 and older, identity theft complaints added up to $48.5 million in reported losses last year. This represents an increase of approximately 70% from 2024.

Other federal data shows how common identity theft is. The Federal Trade Commission (FTC) receives more than 1 million reports of identity theft each year, making it among the most common consumer problems, even as total losses remain lower than other types of fraud.

5 myths about identity theft that put your data at risk

How are victims deceived?

Complaints from Older Americans stretch A wide range of fraud types, with some categories appearing consistently across IC3 reports.

• High volume scams: The most common complaints include phishing and spoofing, technical support scams, and government impersonation, all of which involve direct contact through phone calls, emails, or online messages. Other commonly reported cases include non-payment or non-delivery scams, extortion, and personal data breaches, each of which contributes to the overall volume of complaints among victims ages 60 and older.
• High Loss Scams: The categories associated with the largest losses vary. Investment scams, business email compromises, and trust or romance scams account for a significant share of reported losses, even with fewer complaints.
• New categories are also appearing in the 2025 data. AI-related scams are included for the first time, with thousands of complaints and significant losses reported among older victims. Charity fraud was also listed as a newly reported fraud type for this group.

An identity theft victim in Albany, New York, reviews documents he collected. Victims of identity theft often spend weeks discussing fraudulent accounts, contacting lenders and restoring their credit reports after misusing stolen data. (John Carl Dannibal/Albany Times Union via Getty Images)

How to avoid these scams

As losses mount, knowing how these scams work and how to spot them early can make a big difference.

1) Limit how personal information is shared

Be careful when asking 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) Pause before sending money

The scams that result in the biggest losses often involve urgency. Requests for Transfer money quickly – Especially through bank transfers, cryptocurrencies or gift cards – should be handled with caution. Taking the time to verify the order can prevent major losses.

3) Verify 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 any unusual activity in the account

Bank review and Investment accounts For unusual transactions. Small or unexpected changes can be an early sign of unwanted access.

5) Use account protections where available

Enable two-factor authentication and account alerts where possible. These tools can help report or block unauthorized access attempts.

Monitoring can help detect identity abuse early

when Identity theft happensThe first signal may be a new account or a transaction not authorized by the account holder. Credit monitoring and identity protection services can track activity across credit files and financial accounts, alerting users when new accounts are opened or when personal information appears in known data breaches.

This can give victims an opportunity to act, such as freezing credit, locking accounts, or contesting fraudulent activity, before they lose their money. Many services also provide identity theft insurance and fraud resolution support, which helps cover some losses and guide victims through the recovery process.

If fraud occurs, this support can include working directly with banks, credit bureaus and creditors to recover accounts and remove fraudulent activity.

For older Americans, where accounts often hold larger balances, timing can mean the difference between a small loss and a much larger loss, and how quickly accounts can be restored.

MICROSOFT IMPORTANT IMail IS A SCAM: HOW TO DETECT IT

No service can prevent all types of identity theft. However, monitoring tools and targeted recovery support can make it easier to detect suspicious activity early and respond quickly.

See my tips and top picks for the best identity theft protection at Cyberguy.com

Key takeaways for Kurt

OpenAI joins the global anti-fraud coalition where bad actors use AI to trick victims out of money and data. (Half Point/Getty Images)

The numbers tell a clear story. While identity theft may not top the list of total losses, it plays a crucial role in how many of the largest scams succeed. For older Americans, the risks 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 develops. Scammers combine tactics, use identity theft to open accounts, then move the money through investment scams, impersonation schemes, or social engineering attacks. Once inside, the damage can escalate quickly. The takeaway is simple. Slowing down the speed, verifying requests, and adding basic protections like alerts and two-factor authentication can make a real difference. Catching suspicious activity early often determines whether a loss will remain small or be life-changing.

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If scammers only need one piece of your personal information to get started, how confident can you be that your information isn’t already out there? Let us know by writing to us at Cyberguy.com

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