Americans Fall Victim to Billions in Scams
(MENAFN) Americans fell victim to scams totaling $16.6 billion in 2024, with older adults suffering the most, according to an FBI report released Wednesday.
Seniors lost $4.8 billion, a 33% increase compared to 2023, accounting for a significant portion of the total losses.
"Every number in this report represents a real person, a victim whose trust was betrayed, whose financial security was compromised and whose voice deserves to be heard," stated Christopher Delzotto, the FBI’s Criminal Investigative Division section chief, in a call with reporters, as reported by sources.
Investment fraud emerged as a leading contributor to the financial damage, with scammers convincing victims to invest in high-risk ventures, such as stocks, bonds, and real estate, often promising unrealistic returns. Over the past five years, investment scams have resulted in a staggering $50.5 billion in losses.
The FBI fields about 836,000 cyber fraud reports annually, with victims typically losing $20,000 or more. In 2024, there were nearly 48,000 investment fraud complaints, amounting to nearly $6 billion in losses. Business email compromise schemes, where fraudsters impersonate company executives to steal money or gift cards, led to $2 billion in losses.
Tech support scams also proved lucrative for criminals, with over $1 billion stolen after scammers tricked victims into thinking their devices had issues. Toll scams, involving false messages about unpaid tolls, generated 59,000 complaints and almost $130,000 in losses. Emergency scams, where fraudsters pose as distressed relatives, accounted for $2.7 million in losses. People between the ages of 50 and 59 also faced significant losses, totaling $2.5 billion.
The states of California, Texas, and Florida saw the highest levels of fraud-related losses. FBI officials cautioned that the actual number of scam victims may be even higher, as many do not report their losses due to embarrassment or fear.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
