Americans Lost $12.5 Billion to Fraud in 2024, a Record High

Investment scams accounted for the largest losses, while younger adults reported losing money more frequently than older individuals.

The Federal Trade Commission (FTC) reported a 25% increase in fraud losses from 2023, with total losses reaching $12.5 billion in 2024.
Investment scams led all categories, causing $5.7 billion in losses, with a median loss of over $9,000 per victim.
Imposter scams were the most commonly reported, resulting in $2.95 billion in losses, including $789 million from government-related scams.
Scams initiated online caused over $3 billion in losses, surpassing the $1.9 billion lost through traditional contact methods like calls and emails.
Young adults aged 20–29 reported losing money to fraud more frequently than older adults, with 44% of reports coming from this age group.