An annual report issued by the U.S. Federal Trade Commission (FTC) released this week has revealed the top scams and losses that impacted Americans in 2024. The annual Data Book categorizes the top scams, as well as how much money has been lost by victims, the methods of contact used by scammers and tracks complaints through past years.
It shows that the total losses in 2024 cost consumers at least $12 billion in fraud and scams, with investment scams being the top-rated scams — impacting one out of three people. However, 70% of victims also reported that they lost money more often when they had been contacted on a social media platform. The total losses reported in that category in 2024 were $1.9 billion.
