These Are Most Common Types Of Fraud In America

Americans lost $12.5 billion to fraud schemes in 2024, a $2.5 billion increase from the previous year, according to the Federal Trade Commission. Globally, consumers lost almost half a trillion dollars to scams in 2023. The FTC reported that while certain scams were more common, others led to bigger financial losses for consumers. Imposter scams were the most frequently reported type of fraud in the US, with over 840,000 cases filed and almost $3 billion in losses. However, investment-related scams led to the biggest financial losses, costing Americans $5.7 billion, with a median loss per victim exceeding $9,000. Scams through email made up the highest number of reports, while scams through social media had the highest losses. Text message scams were also common, making up 22% of all fraud reports to the FTC in 2022. The FTC reported various types of fraud, including online shopping, business/job opportunities, internet services, and prizes, sweepstakes, and lotteries. The median loss per incident varied significantly across different types of fraud. The FTC provides a full list of all fraud types on its website, along with information on how to identify and avoid common scams.