Scams aiming to trick older Americans into giving money to strangers impersonating companies, government agencies and other entities have increased significantly since 2020, the Federal Trade Commission reported.

Scams targeting older Americans are surging, causing victims to lose millions of dollars to scammers posing as government officials or trusted companies. The number of victims age 60 and older who lost more than $100,

The number of adults 60 and older who said they fell victim to online scams and lost $10,000 or more increased more than four-fold since 2020.

New Federal Trade Commission data reveals a more than four-fold increase since 2020 in reports from adults 60 and older who lost $10,000 or more to impersonation scams, with combined losses for those reporting over $100,