Protecting Michigan Seniors from Investment Scams
Investment fraud is the costliest scam type targeting American seniors, and Michigan is no exception. In 2025, 369 Michigan seniors aged 60 and older reported investment scam complaints to the FBI. With total elder fraud losses in the state reaching $169.9 million, protecting retirement savings has never been more critical.
Why Michigan Seniors Are Especially Vulnerable
Several factors unique to Michigan put seniors at heightened risk for investment fraud:
- Large senior population: Michigan has over 1.8 million residents aged 65 and older, ranking among the top 10 states for senior population
- Auto industry retirees: Michigan’s large base of auto industry retirees often have pension and retirement savings that make them prime targets for investment scams
- Rural Upper Peninsula: Michigan’s Upper Peninsula is extremely rural and isolated, with seniors facing limited access to in-person support services
- Harsh winters: Long Michigan winters, especially in the northern regions, keep seniors homebound and more exposed to phone and online scams
- Economic hardship: Decades of economic challenges in parts of Michigan mean many seniors live on tight budgets, making them more vulnerable to financial promises
5-Year Trend: Investment Scam Losses in Michigan (2021–2025)
| Year | Victims (60+) | Losses | YoY Change |
| 2021 | 39 | $3.5M | — |
| 2022 | 73 | $14.1M | +303% |
| 2023 | 128 | $21.7M | +54% |
| 2024 | 197 | $42.6M | +96% |
| 2025 | 369 | $88.4M | +107% |
| 5-Year Total | 806 | $170.2M | +2428% |
Source: FBI Internet Crime Complaint Center (IC3) Annual Reports, 2021–2025. Victims and losses for Michigan residents aged 60 and older.
Michigan ranks #10 nationally in investment scam losses targeting seniors, with $88.4 million lost in 2025 across 369 reported victims. That represents 2.6% of all U.S. investment scam losses against older adults. Year over year, losses surged +107% — significantly faster than the national average of +83%. Over the full five-year period, investment scam losses in Michigan grew +2428%.
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 Michigan
- Office of the Michigan Attorney General: (517) 373-1110 | michigan.gov/ag
- SEC: sec.gov/tcr
- FINRA: (844) 574-3577 | brokercheck.finra.org
- FBI IC3: ic3.gov
Free Training Available
Take our free online course to learn more about protecting yourself from investment scams:
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