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US consumers lost record $12.5 billion to fraud in 2024, says FTC

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Consumers lost more money to fraud in 2024 than the previous year. Photo: Photo by Peter Dazeley/ Getty Images

Hameed Shuja

1 min read
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The number of fraud reports remained stable last year, but the percentage of people who lost money has increased.

More money was lost to fraud by US consumers in 2024 than ever before, newly released data from the Federal Trade Commission has revealed. In a press release, the FTC said consumers lost a total of $12.5 billion to fraud last year, a 25% increase on the previous year.

The number of fraud

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