More people are losing money to fraud. The Federal Trade Commission says it got 2.6 million fraud reports in 2024. More than 1 in 3 people who reported *** scam also reported losing money, totaling *** whopping $12.5 billion *** 25% spike from last year, and *** new record. The median amount of money lost was $497. Dollars, but losses were the highest in these three categories. Investment fraud costing *** median of $9,196 business and job fraud costing $2250 and mortgage foreclosure relief and debt management fraud costing $1500. So what do you need to know to protect yourself? First, always be cautious whenever someone contacts you. Of the blue, whether it's an email, *** phone call, or *** text, know that scammers try to create *** sense of urgency to act, so don't be afraid to take *** breath to collect more information and be wary of anyone asking for payment using wire transfers, gift cards, or prepaid debit cards. That's an immediate red flag of *** scam because those payment methods are nearly untraceable once the money is sent. And if someone tries to scam you, make sure you report it to the FTC at report fraud. FTC.gov. In Washington, I'm Amy Lou.
$12.5 billion lost to fraud in 2024; top scams revealed
The FTC reports a record $12.5 billion lost to scams in 2024, with investment fraud, job scams, and debt relief fraud topping the list.
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Updated: 2:10 PM CDT Mar 13, 2025
New Federal Trade Commission data reveals a record-breaking $12.5 billion lost to fraud in 2024, a 25% increase from the previous year.More than 2.6 million fraud reports were filed, with over one-third of victims losing money. The median loss was $497, but the highest losses came from investment fraud, with a median loss of $9,196, followed by business and job scams at $2,250, and mortgage foreclosure relief and debt management fraud at $1,500.FTC data on age and fraud loss reveals how fraud affects every generation differently. Younger age groups filed more fraud reports, but older age groups reported losing the most money.To protect yourself, be cautious of unsolicited emails, calls, or texts, especially those creating urgency. Avoid payment methods like wire transfers, gift cards, or prepaid debit cards, as they are often untraceable.If you encounter a scam, report it to the FTC at reportfraud.ftc.gov.PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
New data reveals a record-breaking $12.5 billion lost to fraud in 2024, a 25% increase from the previous year.
More than 2.6 million fraud reports were filed, with over one-third of victims losing money. The median loss was $497, but the highest losses came from investment fraud, with a median loss of $9,196, followed by business and job scams at $2,250, and mortgage foreclosure relief and debt management fraud at $1,500.
FTC data on age and fraud loss reveals how fraud affects every generation differently. Younger age groups filed more fraud reports, but older age groups reported losing the most money.
To protect yourself, be cautious of unsolicited emails, calls, or texts, especially those creating urgency. Avoid payment methods like wire transfers, gift cards, or prepaid debit cards, as they are often untraceable.
If you encounter a scam, report it to the FTC at .
