Americans lost record $10 billion to fraud in 2023
Newsy
U.S. consumers lost the most money to investment scams — over $4.6 billion — than any other type of fraud in 2023.
Americans lost $10 billion to fraud in 2023, which is the highest this figure has ever been, according to the Federal Trade Commission.
The losses were 14% higher last year than they were in 2022.
U.S. consumers lost the most money to investment scams — over $4.6 billion — than any other type of fraud in 2023. Americans lost the second highest amount of money to impostor scams last year, which amounted to $2.7 billion in reported losses.
U.S. consumers lost more money to bank transfers and cryptocurrency than all other methods combined, the FTC said.
"Digital tools are making it easier than ever to target hard-working Americans, and we see the effects of that in the data we're releasing today,” Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said in a press release. “The FTC is working hard to take action against those scams."
