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New FTC Data Show a Big Jump in Reported Losses To Fraud To $12.5 Billion In 2024 Consumers Reported Losing The Most To Investment Scams At $5.7 Billion
“According to the FTC’s data book, this number is not driven by an increase in fraud reports, which remained stable. Instead, the percentage of people who reported losing money to a fraud or scam increased by double digits. In 2023, 27% of people who reported a fraud said they lost money, while in 2024, that figure jumped to 38%.”
“The FTC received fraud reports from 2.6 million consumers last year, nearly the same amount as 2023. The most commonly reported scam category was imposter scams. Losses to government imposter scams in particular increased $171 million from 2023 to a total of $789 million in 2024.”
Online shopping issues were the second most commonly reported in the fraud category. This was followed by business and job opportunities, where reported losses totaled $750.6 million—up nearly $250 million from 2023. The other most reported categories of fraud were investment-related reports and internet services.”
