Did You Know?

  • Scam losses have grown 400% from 2018 to 2022. And adults over 50 lost nearly $5 billion to fraud in 2022 alone.

    FBI’s 2022 Internet Crime Report

  • Over 3 billion fake emails are sent each day

    Valimail

  • Gen Z falls for online scams more than their grandparents do

    Deloitte Connected Consumer Survey 2023

  • An estimated $28.3 billion is lost to elder fraud scams each year

    AARP “The Scope of Elder Financial Exploitation: What It Costs Victims”

  • Gen Z is three times more likely to fall for an online scam than boomers are

    Deloitte Connected Consumer Survey 2023

  • 1 in 10 adults in the United States falls victim to a scam or fraud each year

    Federal Trade Commission

  • Those ages 18-59 were 34% more likely than adults 60+ to report losing money to fraud

    Federal Trade Commission

  • Social media messages account for 38% of the scam attempts for individuals ages 20-29

    Federal Trade Commission

Scam Losses By Year

Scams have increased over 400% from 2018. Growth was slow from 2018 to 2020, but the pandemic accelerated losses as scammers took advantage of the rapid pace of digitalization.

Scam Losses By Age

Elder fraud is real; those 60+ had the greatest losses out of any other age group. But younger generations are not immune to scams. In fact, those 39 and under lost two-thirds of the amount of money that those 60+ did.

Top 5 States For Scam Losses

Unsurprisingly, states with some of the largest populations had the largest losses for scams. Interestingly, Florida’s per person losses are nearly 50% higher than Texas, which is likely due to the larger elderly population.

Most Common Scams

There are dozens of types of potential scams, but the most common ones are fake investment opportunities, email compromises, fake tech support, personal data breaches, and romance swindling.

Fastest Growing Scams

Investment scams are rapidly increasing. Tech support scams are also growing rapidly. Interesting, government impersonation and credit card/check fraud are becoming much more common.

Top 20 Countries For Scams

The United States is home to more scam victims than the rest of the world combined. Even when factoring in the scam victims from the next 19 countries combined, the United States is over 50%

Chart data sourced from the FBI’s 2022 Internet Crime Report