New FTC Data Show a Big Jump in Reported Losses to Fraud to $12.5 Billion in 2024

Newly released Federal Trade Commission data show that consumers reported losing more than $12.5 billion to fraud in 2024, which represents a 25% increase over the prior year. According to the FTC’s data book, this number is not driven by an increase in fraud reports, which remained stable. Instead, the percentage of people who reported losing money to a fraud or scam increased by double digits.