Instead, the percentage of people who reported losing money to a fraud or scam increased by double digits These companies and people are banned, by federal court orders, from participating in the business of debt collection. In 2023, 27% of people who reported a fraud said they lost money, while in 2024, that figure jumped to 38%
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Consumers reported losing more money to investment scams—$5.7 billion—than any other category in 2024.
Reports to the ftc show a growing wave of scams aimed squarely at retirees’ life savings
These scammers pretend to be from known and trusted government agencies and businesses. Scams auto warranty scam a scammer calls you with a sales pitch for renewing your auto warranty or insurance policy The scammer may have acquired information about your car and its existing warranty to make the offer seem more credible They may make up phony charities or spoof a real charity to.
It’s hard not to glance at your phone when you hear the ding of an incoming text And reports to the ftc’s consumer sentinel network suggest their odds of a big payout have improved Reported losses to text scams have skyrocketed even as the number of reports declined In 2024, people reported $470 million in losses to these scams, more than five times the 2020 number.
The commission will continue to stop such illegal and unethical conduct.” the accelerated debt defendants, acting as a common enterprise, operated a debt relief scam that took in an estimated $100 million, primarily targeting older consumers, some of whom are veterans, according to the complaint.
