Imposter scams cost older adults $700 million in 2024, FTC finds: Some victims are ‘clearing out’ their 401(k)s

Imposter scams cost older adults 0 million in 2024, FTC finds: Some victims are ‘clearing out’ their 401(k)s

Key Points

Americans age 60 and older are reporting being victims of imposter scams in increasing numbers, according to the Federal Trade Commission.
They sometimes lose all the savings held in a bank account or 401(k), the agency said.
There are ways to avoid getting scammed.

Source

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