Elder Scam Statistics US & Canada [2026]: What Every Family Should Know

Elder fraud is growing faster than almost any other category of crime. Here are the most important statistics for US and Canadian families, updated for 2026. For a deeper analysis of the US data and what it means for your family, see our comprehensive US elder scam statistics breakdown.

United States: Key Statistics

FBI Internet Crime Complaint Center (IC3)

• $4.9 billion in reported losses from adults 60+ in 2024 (source)
• 147,000+ complaints from seniors filed in 2024
• 43% year-over-year increase in reported elder fraud losses
• Average loss per victim: $19,000+

Federal Trade Commission (FTC)

• $2.4 billion in fraud losses reported by adults 60+ in 2024 (source)
• Up from $600 million in 2020 — a 300% increase in four years
• Median individual loss: $800
• $100,000+ losses among seniors increased 7x from 2020 to 2024

Estimated Real Losses

• The FTC estimates total US fraud losses (all ages) at $81.5 billion annually, accounting for underreporting
• Only 1 in 44 elder financial exploitation cases is reported to authorities (National Adult Protective Services Association)
• Extrapolated real losses for adults 60+: $20-30 billion per year

Canada: Key Statistics

Canadian Anti-Fraud Centre (CAFC)

• $638 million in reported fraud losses across all ages in 2024 (source)
• Seniors (60+) account for approximately 30% of reported losses
• Estimated senior-specific losses: $190+ million reported
• Investment fraud is the #1 category by dollar amount

Canadian Statistics

• 70,000+ fraud reports filed in 2024
• Only an estimated 5-10% of fraud is reported to CAFC
• Romance scams are the fastest-growing category targeting Canadian seniors
• Cryptocurrency-related fraud losses have increased 400% since 2021

Top Scam Types Targeting Seniors

By Financial Impact (US Data)

Scam Type	Average Loss	Growth Rate
Investment/crypto fraud	$50,000+	+53% YoY
Romance/confidence scams	$25,000+	+30% YoY
Tech support scams	$15,000	+15% YoY
Government impersonation	$8,000	+22% YoY
Grandparent/family emergency	$5,000-$15,000	+40% YoY (AI-driven)

By Volume

1. Government impersonation (most common)
2. Tech support scams (second most common)
3. Romance/confidence scams (fastest growing)
4. Lottery/sweepstakes scams
5. Investment fraud (highest dollar amount)

The Underreporting Problem

These numbers, as staggering as they are, represent only what gets reported. The true scale is far worse:

• 95%+ of elder fraud goes unreported to authorities
• Seniors don’t report due to shame (54%), not knowing who to contact (30%), and fear of losing independence (25%)
• Repeat victimization is common — once on a “sucker list,” seniors are targeted again and again
• Family-perpetrated fraud (financial abuse by caregivers or relatives) is almost never reported

Demographic Risk Factors

Who’s Most Vulnerable

• Living alone — 2x more likely to be targeted
• Recently widowed — targeted within weeks of obituary publication
• Cognitively declining — financial mistakes appear 6 years before dementia diagnosis (Johns Hopkins)
• Socially isolated — fewer people to notice behavioral changes
• Active phone users — more exposure to phone-based scams

Age Distribution

• 60-69: Most likely to report fraud, lower average losses
• 70-79: Higher average losses, less likely to report
• 80+: Highest average losses, least likely to report, most likely to lose life savings

Emerging Threats (2025-2026)

AI Voice Cloning

Scammers can clone a family member’s voice from a 3-second social media clip. The grandparent scam has evolved from “Hi grandma, it’s me” to a phone call that sounds exactly like your actual grandchild.

Deepfake Video

Video calls are no longer proof of identity. Scammers can now conduct real-time video calls using deepfake technology, making romance scams dramatically more convincing.

Pig Butchering at Scale

Organized scam operations in Southeast Asia are industrializing. Hundreds of operators work in shifts, managing thousands of simultaneous victim relationships. The personalization that once required a skilled social engineer is being systematized.

Crypto Recovery Scams

After being scammed, victims searching for help recovering lost cryptocurrency are targeted by second scammers posing as recovery services. Victimization begets victimization.

What These Numbers Mean for Your Family

If your parent is over 65, lives alone, and uses a phone:

• They’re in the highest-risk demographic for financial exploitation
• The odds of being targeted are significantly higher than being burglarized
• The average loss ($19,000+) can destabilize a fixed-income retirement
• The probability of recovery is under 5%
• They are statistically unlikely to tell you if it happens

These aren’t scare statistics. They’re the reality that millions of families face — most without knowing it until it’s too late.

What You Can Do

1. Have the conversation — but do it without starting a fight
2. Set up financial safeguards — bank alerts, trusted contacts, spending limits
3. Reduce isolation — every additional social touchpoint reduces vulnerability
4. Monitor phone activity — the earliest signal of exploitation is changed communication patterns
5. Don’t rely on education alone — it’s not enough

The numbers in this article will be worse next year. The trend is clear. The question is whether your family will be prepared.

If you want early detection of scam patterns on your parent’s phone, join the KindWatch waitlist. We’re building the monitoring layer that these statistics prove is desperately needed.

---

Sources: FBI IC3 Elder Fraud Report 2024, FTC Consumer Sentinel Network 2024, Canadian Anti-Fraud Centre Annual Report 2024, National Adult Protective Services Association, Johns Hopkins Bloomberg School of Public Health.