If you think your retirement account is too boring to interest a cybercriminal, think again.
The FBI's 2025 Internet Crime Report shows that investment fraud generated nearly $8.65 billion in reported losses, making it the largest category of cyber-enabled fraud.
And criminals aren't necessarily trying to steal your account credentials; sometimes, they're trying to convince you to just hand over the money yourself.
One increasingly common approach involves fake investment opportunities. Scammers may contact victims through social media, text messages, dating apps, or online advertisements, eventually directing them to convincing-looking investment platforms that display completely fictional profits.
Considering investing in cryptocurrency? Perhaps give it more thought. The FBI says cryptocurrency investment fraud alone generated $7.2 billion in reported losses in 2025, a 25% increase from the previous year. People age 60 and older reported more than $2.76 billion of those losses.
And here's the part that should make anyone with a retirement account sit up a little straighter.
The FBI reported stopping one victim from cashing out $750,000 from a 401(k) to send to scammers. Another victim was preparing to sell a home for $500,000 to invest in the scheme. That’s just how attractive they make these scams look to potential victims.
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Scammers may show victims an account that appears to be growing rapidly. $50,000 becomes $75,000. $75,000 becomes $100,000 and so on, and so on.
Everything looks fantastic, until the victim tries to withdraw the money. That's when the scammer may demand taxes, fees, or other payments before the imaginary profits can be collected.
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Be extremely skeptical of anyone promising unusually high or guaranteed investment returns.
Don't invest because someone you met online tells you about a "can't miss" opportunity.
And never move retirement money because someone is pressuring you to act quickly.
Keep your retirement for your golden years. Your retirement savings represent years of work and savings. Don't let a stranger with a slick website and a convincing story turn your nest egg into their payday.
For banks and credit unions
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