Did some offer feel too good to be true, recently? SCAM WARNING!
According to Federal Trade Commission data, US adults lost $10 billion to fraudsters in 2023.
People lost $47,063,528 to investment scams, making it the top scamming category.
Dating and romance scams resulted in a loss of $5,888,270.
45,103 financial loss reports due to scams were filed last year in the US.
Are you taking proactive steps to stay safe? Stay informed and protect yourself with revealing scam statistics.
Top Scam Statistics: Editor’s Pick
- Scams mimicking government officials and services grew 15% in 2023. [1]
- Phishing scams caused a loss of $3,858,582. [1]
- Scams related to false jobs & employment led to losses of about $3,314,587. [1]
- Identity theft scams accounted for losses totaling $1,819,691. [1]
- Offline scams are more prevalent than online frauds, with 58% of scammers using old-fashioned techniques. [4]
- 85% of doorstep fraud victims are people over 65 years of age. [4]
- Email scams caused losses totaling $3,761,972. [1]
- Text message scams resulted in the highest number of reports (25,463) but comparatively lower losses ($475,757). [1]
- People lost about $3,030,289 to scams via social networking platforms. [1]
Scam Victims Statistics
Are scams increasing?
Who do they target?
45103 financial loss reports due to scams were filed last year in the US. [1]
57% of scam victims are females and lost $12,821,045. [1]
50.6% of reports are filed by females. [1]
While males account for 42.9% of the amount lost ($9,632,071) to scams, 48.2% of reports are filed (30,233). [1]
US Scam Statistics
According to Federal Trade Commission data, US adults lost a record $10 billion to fraudsters in 2023. [2]
US adults are usual targets of these fraudsters.
About 690,000 people were giving them money during a scam. [2]
Marginally 624,000 people reported losing money to fraud scams, totaling $8.9 million. [1]
Scams mimicking government officials and services grew 15% in 2023. [3]
Mediums And Contact of Scams
How do scammers contact people and deliver fraud?
The mobile phone call was the delivery method for most of the scammers with people losing about $10,483,852 and the number of reports being 11,916. [1]
Next is emails with $3,761,972 amount lost and 20,350 reports being filed. [1]
People easily sense scams by text messages and report them. Text messages have the highest number of reports (25,463) with less amount lost ($475, 757) comparatively. [1]
| Delivery Method | Amount Lost | Number of Reports |
|---|---|---|
| Phone | $10,483,852 | 11,916 |
| $3,761,972 | 20,350 | |
| Social Networking | $3,030,289 | 4,241 |
| Mobile Apps | $2,314,698 | 1,204 |
| In-person | $1,901,612 | 1,031 |
| Internet | $1,840,158 | 2,853 |
| Text Message | $475, 757 | 25,463 |
| $12,888 | 545 |
Top Scam Cases By Amount Lost
When it comes to scamming, there can be many ways from phishing to identity theft. Let’s look at top scams by the amount lost.
- People lost $47,063,528 to investment scams, making it the top scamming category. [1]
- Next is dating and romance, yes! Shockingly people were fooled with the romantic mask and lost $5,888,270. [1]
- Phishing is following closely with a loss of $3,858,582. [1]
- People lost about $3,314,587 in scams where they are trapped for false jobs & employment. [1]
- People were scammed for identity theft ($1,819,691), classified scams ($1,100,990), and online shopping ($864,933) scams. [1]
- Threats to life, blackmailing, and remote access scams are other major prevalent scams to be aware and cautious of. [1]
Offline Scam Statistics
Offline scams are still more prevalent than online frauds. It is to be noted that a stolen wallet can harm your identity more than online fraud. [4]
58% of scammers are using old-fashioned techniques. [4]
Elderly people who are vulnerable, not physically capable, or lonely are more likely to be victims of doorstep fraud. [4]
85% of doorstep fraud victims are people over 65 years of age. [4]
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FAQs
How can I identify a scam?
- Recognize common tactics. Scammers often use pressure tactics, promises of unrealistic rewards, or threats to coerce victims into taking action.
- Trust your instincts. If something feels off or too good to be true, it likely is. Listen to your gut and exercise caution.
- Verify sources. Always verify the identity and legitimacy of the sender or caller before providing any personal information or making payments.
What should I do if I suspect a scam?
- Do not engage. Avoid responding to or interacting with suspicious communications.
- Report it. Report any suspected scams to relevant authorities such as the Federal Trade Commission (FTC) or local consumer protection agencies.
- Educate others. Spread awareness about common scam tactics and encourage others to stay vigilant.
- Monitor accounts. Regularly monitor your financial accounts and credit report for any unusual activity.
How can I protect myself from online scams?
- Use strong, unique passwords. Create strong passwords for online accounts and avoid using the same password across multiple platforms.
- Enable two-factor authentication. Add an extra layer of security to your online accounts with two-factor authentication wherever possible.
- Keep software updated. Ensure that your devices and software are up-to-date with the latest security patches and updates.
- Be cautious with personal information. Avoid sharing sensitive personal information online unless necessary, and only do so on secure, reputable websites.
What are some common warning signs of a scam?
- Unsolicited requests for personal information or payment.
- Promises of guaranteed returns or winnings with little to no risk.
- High-pressure sales tactics or demands for immediate action.
- Poor grammar or spelling in communications may indicate a fraudulent attempt.
- Requests for payment via unconventional methods such as gift cards, wire transfers, or cryptocurrency.
Conclusion
Scared of scams? Well, Staying informed about common scams and understanding how to recognize and prevent them is crucial in today’s digital landscape.
By arming yourself with knowledge and adopting proactive measures, you can better protect yourself from falling victim to fraudulent schemes.
Source
- Scamwatch. Scam statistics
- FTC. Data
- Consumer. ftc. How to avoid a government impersonation scam
- Legal Jobs. Scam statistics
Manisha is a digital writer providing guidance in career development and growth. She facilitates skill development and implementation of the right strategies for advancement. At Jobera, She documents content around the latest market trend analysis, insights, and career planning.