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Record high $10 billion lost to fraud by US consumers in 2023

US five and one dollar bills are burning.
Photo: Tom Stoddart/Getty Images

Martina Lindberg

1 min read
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Investment scams increase 21% – with losses of more than $4.6 billion in total last year.

A new report by the Federal Trade Commission (FTC) reveals US consumers lost more than $10 billion to fraud in 2023, an increase of 14% on 2022. For the first time, losses reached over $10 billion.

The report also revealed that consumers are losing more money to scams than before – more than $4.6 billion

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