Protecting Massachusetts Seniors from Investment Scams
Investment fraud is the costliest scam type targeting American seniors, and Massachusetts is no exception. In 2025, 308 Massachusetts seniors aged 60 and older reported investment scam complaints to the FBI. With total elder fraud losses in the state reaching $113.9 million, protecting retirement savings has never been more critical.
Why Massachusetts Seniors Are Especially Vulnerable
Several factors unique to Massachusetts put seniors at heightened risk for investment fraud:
- Wealthy retirees: Massachusetts has one of the highest concentrations of wealth per capita, making its seniors attractive targets for investment and financial fraud
- Aging population: Massachusetts has a rapidly growing population over 65, with New England traditionally having older demographics than the national average
- Healthcare hub: As a major medical center, Massachusetts seniors may be targeted by scammers impersonating hospitals, insurance companies, or Medicare
- University town trust: Massachusetts’s educated population may feel “too smart” to be scammed, which itself creates vulnerability — scammers exploit overconfidence
- Cold winters: Long New England winters keep seniors indoors and online, increasing exposure to digital scams and phone fraud
5-Year Trend: Investment Scam Losses in Massachusetts (2021–2025)
| Year | Victims (60+) | Losses | YoY Change |
| 2021 | 36 | $3.9M | — |
| 2022 | 79 | $22.4M | +473% |
| 2023 | 122 | $29.4M | +32% |
| 2024 | 246 | $41.4M | +41% |
| 2025 | 308 | $50.2M | +21% |
| 5-Year Total | 791 | $147.3M | +1187% |
Source: FBI Internet Crime Complaint Center (IC3) Annual Reports, 2021–2025. Victims and losses for Massachusetts residents aged 60 and older.
Massachusetts ranks #18 nationally in investment scam losses targeting seniors, with $50.2 million lost in 2025 across 308 reported victims. That represents 1.5% of all U.S. investment scam losses against older adults. Year over year, losses changed +21%, outperforming the national average of +83%. Over the full five-year period, investment scam losses in Massachusetts grew +1187%.
Complete guide: For detailed warning signs, protection strategies, and what to do if you’ve been targeted, read our comprehensive Investment Scam Prevention Guide. You can also take our free Online Training courses to test your knowledge.
Report Investment Fraud in Massachusetts
- Office of the Massachusetts Attorney General: (617) 727-2200 | mass.gov/ago
- SEC: sec.gov/tcr
- FINRA: (844) 574-3577 | brokercheck.finra.org
- FBI IC3: ic3.gov
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