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Federal Commerce Fee Studies Nationwide Fraud Losses Topped $10B in 2023

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Shoppers reported shedding extra money to funding scams—greater than $4.6 billion—than another class in 2023, a 21% improve over 2022. The second highest reported loss quantity got here from imposter scams, with losses of practically $2.7 billion reported. In 2023, shoppers reported shedding extra money to financial institution transfers and cryptocurrency than all different strategies mixed.

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The FTC obtained fraud reviews from 2.6 million shoppers final yr, practically the identical quantity as 2022. Essentially the most generally reported rip-off class was imposter scams. On-line buying points have been the second mostly reported within the fraud class, adopted by prizes, sweepstakes, and lotteries; investment-related reviews; and enterprise and job alternative scams, in response to the report.

One other first was the strategy scammers reportedly used to achieve shoppers mostly in 2023: electronic mail. E mail displaced textual content messages, which held the highest spot in 2022 after a long time of cellphone calls being the commonest. Telephone calls are the second mostly reported contact technique for fraud in 2023, adopted by textual content messages.

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The fee screens these developments fastidiously, and is taking a complete method to detect, halt, and deter client fraud, together with in 2023 alone:

A full breakdown of reviews obtained in 2023 is obtainable on the FTC’s data analysis site.

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Subjects
Fraud
Profit Loss

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