Americans lost a whopping $12.5 billion to fraudsters in 2024 – up $2.5 billion from 2023, according to the latest consumer alert from the FTC.
Consumer-facing scams are a major contributor to the Federal Trade Commission’s annual report for members of its Sentinel Network.
According to the data book, registered complaints totaled 6.5 million for 2024—roughly the same as the year prior, but the victims reported higher losses.
Record losses from fraud
“Even though the number of fraud repor