The reality is that Americans lost more to fraud than ever before in 2024 - $12.5 billion.
It seems scammers are getting better at convincing people to part with their cash.
The highest losses came from investment scams.
A massive $5.7 billion was lost through this pop in of fraud.
The median loss for victims was over $9,000, more than any other scam category.
Once someone gives the scammer their money, the criminal cuts off all communications.
This could be due to a greater number of young people being online.
Elsewhere, losses to business and job opportunity scams surged, from $250 million to $750.6 million.
This was followed by phone calls and then text messages.
