Top scams of 2024

Did you or someone you know report a scam to the FTC in 2024? Thank you! Those reports help the FTC bring enforcement cases and educate people about scams. Let’s jump into the top 2024 scams.

The headline is this: even though the number of fraud reports is roughly the same as last year, more people lost a lot more money to fraud. One in three people who reported fraud said they lost money (up from one in four last year), adding up to $12.5 billion (up $2.5 billion from 2023). People lost over $3 billion to scams that started online, compared to approximately $1.9 billion lost to more “traditional” contact methods like calls, texts, or emails. However, people lost more money per person (a median of $1,500) when they interacted with scammers on the phone. And, once again, imposter scams topped the list of scams reported.

Here are some other things to know:

• The biggest scam losses happened by bank transfer or payment. Among all payment methods, people reported losing more money through a bank transfer or payment ($2 billion), followed by cryptocurrency at $1.4 billion.
• Investment scams led to big losses. A majority (79%) of people who reported an investment-related scam lost money, with a median loss of over $9,000. The $5.7 billion losses in this category are up about $1 billion from last year.
• People reported losing money more often when contacted through social media. Most people (70%) reported a loss when contacted on a social media platform — and lost more money overall ($1.9 billion).
• Job scams and fake employment agency losses jumped — a lot. Between 2020-2024, reports nearly tripled and losses grew from $90 million to $501 million.
• Younger people lost money more often. People aged 20-29 reported losing money more often than people 70+. But when older adults lost money, they lost far more than any other age group.

The biggest takeaway? Your reports make a difference. If you see a fraud or scam, the FTC wants to hear about it: go to ReportFraud.ftc.gov.

Check out the graphic for the top scams of 2024 below. Read the 2024 Data Book for more details and to learn what happened in your state.

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