Most Common Fraud Tactics of 2023

Almost 1 in 3 Americans have been scammed in the past year, with a reported average loss of $1,600.00 per victim.  More young people are falling for scams, possibly due to the advancement of technology and the sophistication of online scams.  When looking at data by generation, 38% of Baby Boomers, 32% of Gen X, 26% of Millennials, and 37% of Gen Z reported falling victim to scams in the last 12 months.  Here are some statistics on scams for 2024.

 

  • 552,000 cases of identity theft were reported in the first half of 2024, with credit card fraud being the most prevalent.
  • 34% of people experienced a cyber scam in the past 12 months.
  • Consumers reported losing $20 million to government impersonation scams in the first quarter of 2024 alone.
  • According to the Global Anti-Scam Alliance, scammers bilked victims out of $1.03 trillion worldwide in the past 12 months.
  • The most common types of scams reported are imposter, online shopping, investment, and business or job opportunity scams.

 

Here is the FTC’s top frauds and scams of 2023 at the link below:

 

Federal Trade Commission Top Frauds and Scams of 2023