Protecting Virginia Seniors from Investment Scams
Investment fraud is the costliest scam type targeting American seniors, and Virginia is no exception. In 2025, 430 Virginia seniors aged 60 and older reported investment scam complaints to the FBI. With total elder fraud losses in the state reaching $220.9 million, protecting retirement savings has never been more critical.
Why Virginia Seniors Are Especially Vulnerable
Several factors unique to Virginia put seniors at heightened risk for investment fraud:
- Federal retirees: Northern Virginia’s massive federal workforce produces retirees specifically targeted by government impersonation scams
- Military communities: Virginia’s major military bases (Norfolk, Quantico, Fort Gregg-Adams) bring retirees targeted by VA impersonation scams
- Extreme wealth disparity: Northern Virginia’s wealthy retirees and Appalachian Virginia’s economically challenged seniors both face different but significant risks
- High losses: With over $220 million in elder fraud losses, Virginia ranks among the top 10 hardest-hit states in the nation
- Southern trust culture: Virginia’s traditional culture of courtesy and respect makes seniors more likely to engage with official-sounding callers
5-Year Trend: Investment Scam Losses in Virginia (2021–2025)
| Year | Victims (60+) | Losses | YoY Change |
| 2021 | 35 | $5.3M | — |
| 2022 | 98 | $10.0M | +91% |
| 2023 | 130 | $32.8M | +227% |
| 2024 | 266 | $41.2M | +26% |
| 2025 | 430 | $104.0M | +152% |
| 5-Year Total | 959 | $193.3M | +1876% |
Source: FBI Internet Crime Complaint Center (IC3) Annual Reports, 2021–2025. Victims and losses for Virginia residents aged 60 and older.
Virginia ranks #8 nationally in investment scam losses targeting seniors, with $104.0 million lost in 2025 across 430 reported victims. That represents 3.0% of all U.S. investment scam losses against older adults. Year over year, losses surged +152% — significantly faster than the national average of +83%. Over the full five-year period, investment scam losses in Virginia grew +1876%.
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 Virginia
- Office of the Virginia Attorney General: (804) 786-2071 | oag.state.va.us
- 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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