FTC says reported losses to fraud exceeded $12.5 billion in 2024, with $5.7 billion lost to investment scams. Consumers filed 2.6 million fraud reports in 2024, claiming total losses of over $12.5 billion, an increase of over $2 billion compared to the previous year, the Federal Trade Commission says.

Fraud losses hit a record $12.5 billion in 2024, up 25% from 2023. Imposter scams topped the list, but employement scams gained considerably.

A large chunk of the losses, at $5.7 billion, occurred through investment scams. Email was the most common way scammers contacted victims, followed by phone calls and texts.