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Identity theft losses surge 70% for older Americans

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Identity theft losses surge 70% for older Americans

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The FBI has just released its latest annual internet crime report, and the numbers are staggering: Americans filed 1,008,597 complaints with the Internet Crime Complaint Center (IC3) last year, with losses nearing $20.9 billion.

Buried in the new data is an eerily familiar trend getting more expensive for older adults. Identity theft complaints involving Americans 60 and older totaled 5,359 complaints and $48.5 million in reported losses in 2025, a steep jump from the year before.

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DO YOU KNOW THE TRUE COST OF IDENTITY THEFT?

Identity theft tied 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)

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Seniors account for a disproportionate share of losses

The report shows a clear fault 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 of any age group. By comparison, people in their 30s and 40s submitted more complaints overall, but reported lower total losses. Complaints from older adults more often involve bank accounts, retirement funds, and investment portfolios, where a single identity fraud incident 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 these submissions to identify where money is moving and which groups are being affected.

Identity theft appears within this data as one of several fraud types. Identity theft prompts fewer complaints than categories such as investment or tech support scams. In many cases, it’s used to get access to existing accounts, where stolen personal details can pass verification checks and move funds.

Identity theft losses trail other fraud types

Investment scams led 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 make up a large share of the $7.7 billion in total losses mentioned earlier.

Identity theft sits below those totals, though it remains part of how some of these cases unfold. Among victims age 60 and older, identity theft complaints added up to $48.5 million in reported losses last year. That’s a roughly 70% increase from 2024.

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Other federal data shows how common identity theft remains. The Federal Trade Commission (FTC) receives more than a million identity theft reports each year, placing it among the most frequently reported consumer issues, even as total losses remain lower than other fraud types.

5 MYTHS ABOUT IDENTITY THEFT THAT PUT YOUR DATA AT RISK

How are victims getting scammed?

Complaints from older Americans span a wide range of fraud types, with a few categories appearing consistently across IC3 reports.

  • High-volume scams: The most frequently reported complaints include phishing and spoofing, tech 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 contributing to overall complaint volume among victims aged 60 and older.
  • High-loss scams: The categories tied to the largest losses are different. Investment scams, business email compromises, and confidence or romance scams account for a significant share 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 reported losses among older victims. Charity fraud is also listed as a newly reported fraud type for this group.

An identity theft victim in Albany, New York, looks over documents he’s gathered. Victims of identity theft frequently spend weeks disputing fraudulent accounts, contacting lenders and restoring their credit reports after stolen data is misused. (John Carl D’Annibale/Albany Times Union via Getty Images)

How to avoid these scams

With losses climbing, knowing how these scams work and how to spot them early can make all the difference.

1) Limit how personal information is shared

Be cautious when asked for Social Security numbers or account credentials. Government agencies, banks, and tech companies do not request this information through unsolicited calls, emails, or messages.

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2) Pause before sending money

Scams that lead to the largest losses often involve urgency. Requests to move money quickly – especially through wire transfers, cryptocurrency, or gift cards – should be treated with caution. Taking time to verify the request can prevent large 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 contact details provided in the message itself.

4) Watch for unusual account activity

Regularly review bank and investment accounts for unfamiliar 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 flag or block unauthorized access attempts.

Monitoring can help catch identity misuse earlier

When identity theft happens, the first sign could be a new account or a transaction the account holder didn’t authorize. 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.

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That can give victims a window to act, such as freezing credit, locking accounts, or disputing fraudulent activity, before they lose money. Many services also offer identity theft insurance and fraud resolution support, helping cover certain losses and guiding victims through the recovery process.

If fraud does happen, that support can include working directly with banks, credit bureaus, and creditors to restore 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 one, and how quickly accounts are restored.

MICROSOFT ‘IMPORTANT MAIL’ EMAIL IS A SCAM: HOW TO SPOT IT

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

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See my tips and best picks on 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. While identity theft may not top the list of total losses, it plays a critical role in how many of the biggest scams succeed. For older Americans, the stakes are higher because the accounts being targeted often hold decades of savings. What stands out isn’t just the increase in complaints. It’s how fraud is evolving. Scammers are combining tactics, using identity theft to unlock accounts, then moving money through investment scams, impersonation schemes or social engineering attacks. Once they get in, the damage can escalate quickly. The takeaway is simple. Slowing down, 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 stays small or becomes life-changing.

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

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Copyright 2026 CyberGuy.com.  All rights reserved.  

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Facebook’s new AI Mode search gets its info from public posts

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Facebook’s new AI Mode search gets its info from public posts

Your public Facebook posts could help inform AI-generated results in Meta’s new AI Mode. When you search on Facebook, the “AI Mode” option will appear alongside the usual search modes like “People” and “Marketplace.” It’s one of several new AI features Meta is rolling out starting today, including photo presets that swap sports jerseys onto fans and suggestions for collage templates.

Instead of “just links,” it gives users AI-generated results that pull from publicly-posted content across Meta’s platforms, like the AI search feature in its new Reddit-like Forum app. Users can also ask Meta’s AI follow-up questions in response to the search results it generates.

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Text job scam cost him $10K in crypto

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Text job scam cost him K in crypto

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A text about making extra money can feel harmless at first. Maybe it shows up while you are between errands, scrolling on the couch or looking for a way to pad your budget.

That is exactly why these scams work. They do not always begin with a wild promise. Often, they start with a simple message about flexible online work. Then the scammer slowly turns curiosity into trust.

Rick S. shared this painful warning after reading one of our articles on scams:

“I am embarrassed to say this happened to me. I was contacted by text message about making some “extra” money. I was skeptical at first. This “company” was supposed to upload apps in order to get more exposure for the apps. This was supposedly associated with a company called APPTimizer. I called myself doing the research and felt confident that this was a legitimate business. I was led to believe the more “APPS” I uploaded, the more money I would make. All of this was done through Crypto. Long story short, I lost about $10k. Hard lesson to learn.”

— Rick S.

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FAKE JOB INTERVIEW EMAILS INSTALLING HIDDEN CRYPTOCURRENCY MINING MALWARE

A man says he lost $10,000 in cryptocurrency after a text message about easy app work turned into a fake job scam. (Karl-Josef Hildenbrand/picture alliance via Getty Images)

Rick’s story fits a growing scam category often called a task scam, task-optimization scam or crypto job scam. These scams often begin with unexpected texts or WhatsApp messages offering online work. The “job” may involve fake tasks such as app optimization, product boosting, liking content or rating items online.

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What is a text job scam?

A text job scam is a fake employment offer sent by text, WhatsApp, Telegram or social media message. The pitch usually sounds easy. You may be told you can earn money from home by completing simple online tasks.

In Rick’s case, the supposed work involved uploading apps to help them get more exposure. Scammers often use vague tech terms because they sound legitimate without being easy to verify. Task scams commonly use buzzwords like “optimization tasks” or “product boosting.”

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That vague wording gives the scammer room to keep changing the story. One day, you are doing small tasks. Then you are told you need to deposit crypto to unlock more work, complete a set or withdraw your supposed earnings.

How a crypto task scam works

The scam often starts with a friendly recruiter. They may claim to represent a real company or a company name that sounds real. That detail matters because a quick online search may not be enough to protect you. Crypto job scammers often pose as employees of legitimate companies. They may contact victims by text, then push the conversation to WhatsApp, Telegram or another private messaging app.

Next, the scammer gives you access to a website or app that shows your “earnings.” At first, you may even be allowed to withdraw a small amount. That early payout makes the whole setup feel legit.

Then the trap tightens. You may be told to add your own money to keep working. The fake platform may show a negative balance. A “customer service” contact may tell you that you need to deposit crypto before you can unlock your account. The FBI warns that victims are often hit with a large deposit requirement after they already have money trapped inside the platform. That is the moment many people keep paying. They are not being careless. They are trying to save the money they have already put in.

Why fake job texts feel so convincing

These scams are built to mess with your judgment. The fake dashboard may show commissions climbing. A group chat may include supposed workers bragging about payouts. A fake customer service rep may sound calm, professional and helpful. Scammers sometimes invite hesitant victims into group chats filled with fake success stories. The goal is simple: make you feel like everyone else understands the system and you are the only one holding back.

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That pressure can make a smart person second-guess their gut. It can also create embarrassment, which helps scammers. If victims feel ashamed, they may wait longer to tell someone or report it. Rick’s comment is valuable because it cuts through that shame. He did what many people would do. He researched. He stayed skeptical at first. He still got pulled in.

GOT A BANK TRANSFER ALERT TEXT? IT MIGHT BE A SCAM; HERE’S WHAT TO DO

Text job scams often begin with surprise messages offering flexible online work before pushing victims to send cryptocurrency. (Kurt “CyberGuy” Knutsson)

Why crypto job scams are hard to recover from

Crypto adds speed and distance. Once you send cryptocurrency to a scammer’s wallet, it can be extremely difficult to recover.

That is why scammers love it. The FTC says crypto has become the payment method of choice in many task scams. Job scam losses involving cryptocurrency have surged, according to FTC data.

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The FBI’s 2025 Internet Crime Report also shows how costly crypto fraud has become. Americans who filed cryptocurrency-related complaints reported more than $11 billion in losses in 2025.

Red flags of a text job scam

Rick’s story includes several warning signs that everyone should know. The first is the unexpected text. Real companies rarely recruit strangers by random text for easy online work.

The second is the vague job description. “Upload apps,” “optimize apps,” and “boost exposure” may sound tech-related, but a real employer should explain the work clearly.

The third is crypto. A legitimate employer should not require you to use crypto to get paid, unlock tasks or access earnings.

Another warning sign is the idea that the more you put in, the more you can earn. The FBI lists this as a common feature of cryptocurrency job scams.

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What to do if you sent money to a job scammer

If this happened to you, stop sending money immediately. Do not pay a “fee,” “tax,” “unlock charge,” or “recovery deposit.” That is often the next stage of the scam.

Then gather everything. Save screenshots of texts, wallet addresses, usernames, websites, transaction IDs, emails and phone numbers. Document the company or scammer name, contact methods, dates, payment methods, where funds were sent and a detailed description of the interactions.

Report the scam to the FBI’s Internet Crime Complaint Center at ic3.gov and to the FTC at ReportFraud.ftc.gov. You should also contact the crypto exchange or wallet service you used. They may not be able to reverse the transfer, but reporting quickly gives you the best chance of getting the transaction flagged.

Also, watch out for recovery scams. If someone contacts you claiming they can get your crypto back for a fee, that is another major red flag.

FROM FRIENDLY TEXT TO FINANCIAL TRAP: THE NEW SCAM TREND

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Scammers often pose as recruiters and move victims to private messaging apps before asking for crypto payments. (Kurt “CyberGuy” Knutsson)

Ways to stay safe from text job scams

These scams often start with a simple message, so the best defense is to slow things down before you click, reply or send money.

1) Treat surprise job texts as suspicious

If a job offer arrives out of nowhere by text, slow down. Search the company’s official website on your own. Do not use links sent by the recruiter.

2) Never pay money to get paid

A real job pays you. It does not require you to deposit crypto, buy credits or “recharge” an account before you can collect earnings.

3) Be careful with private messaging apps

Scammers often move conversations to WhatsApp, Telegram or similar apps. That makes the scam feel more personal and harder to trace.

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4) Do not trust a fake earnings dashboard

A website can show any number the scammer wants you to see. A growing balance on a screen does not mean real money exists.

5) Search the exact job pitch

Look up phrases from the message in quotes. Search terms like “app optimization scam,” “task scam,” “crypto job scam” and the company name.

6) Call the company directly

If the recruiter claims to represent a real business, contact that company through its official website. Ask whether the job and recruiter are legitimate.

7) Use strong antivirus protection

A fake job text may include a link to a bogus website, a fake app download or a malicious attachment. Strong antivirus software can help block dangerous links, phishing pages and malware before they do damage. Get my picks for the best 2026 antivirus protection winners for your Windows, Mac, Android and iOS devices at CyberGuy.com.

8) Remove your personal data from the web

Scammers can use your name, phone number, address, job history and other personal details to make a fake job pitch sound more believable. A data removal service can help reduce how much of that information is floating around on people-search sites and data broker pages. Check out my top picks for data removal services and get a free scan to find out if your personal information is already out on the web by visiting CyberGuy.com.

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9) Talk to someone before sending crypto

Before sending any crypto for a job opportunity, pause and ask a trusted friend, family member or financial institution. A five-minute conversation can save thousands.

10) Report it even if you feel embarrassed

Scammers count on silence. Reporting helps investigators connect wallet addresses, websites and phone numbers to larger fraud networks.

Kurt’s key takeaways

Rick’s story is a tough reminder that scams can look polished enough to fool careful people. He checked things out and still lost $10,000. That is exactly why these fake job offers are so dangerous. They mix hope, pressure, fake proof and crypto into one expensive trap. The safest rule is simple: if a job asks you to send money before you can earn money, walk away. A real paycheck should never start with you paying the employer.

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Have you ever received a text offering easy online work? If so, what happened? Let us know by writing to us at CyberGuy.com.

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  • For simple, real-world ways to spot scams early and stay protected, visit CyberGuy.com trusted by millions who watch CyberGuy on TV daily.
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Copyright 2026 CyberGuy.com. All rights reserved.

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Fox is buying Roku

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Fox is buying Roku

Fox has announced that it’s acquiring Roku outright, in a deal that values the streaming company at $22 billion.

The deal will see Fox’s TV networks and Tubi streamer combine with Roku’s network of streaming devices, smart TV software, and The Roku Channel. The companies say in a press release that by combining they’ll become the third-largest player in the US TV industry by viewing share.

It doesn’t sound like the plan is to build Roku and Fox into a walled ecosystem. Roku founder and CEO Anthony Wood, who will stay on in the company and join Fox’s board of directors, said in an investor call that Roku “will continue to operate as an open, partner-friendly platform supporting the entire streaming ecosystem.” As for Fox, the press release says the companies are “committed” to the “continued ubiquitous distribution” of Fox’s own content.

”This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade,” Fox CEO Lachlan Murdoch said in a statement. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it.”

“Over the past two decades, we’ve built Roku into the leading TV streaming platform, reaching more than 100 million households globally and reshaping how people discover and enjoy entertainment,” said Roku CEO Wood. “I’m incredibly proud of what our team has built, and the combination with Fox is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers.”

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The deal is expected to close in the first half of 2027, but remains subject to regulatory approval, which in the current climate seems unlikely to pose a problem in the US.

Update, June 15th: Added Anthony Wood quote from the investor call.

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