The Top Financial Scams of 2023
How much did consumers lose to scams in 2023?
As scams become increasingly sophisticated, with all the tactics technology can offer, it is important to stay vigilant and aware of evolving threats.
By learning about past scams, we can hopefully be better prepared for future ones.
Recent Data
In this article, we highlight the top scams of 2023 with financial statistics, most commonly used methods, real-life scam examples, and what to do in certain instances.
The following information has been provided by the FTC, and is up-to-date as of February 2024.
Who is the FTC?
Every year, the Federal Trade Commission (FTC)—a federal agency that enforces federal consumer protection laws that prevent fraud—shares information collected about scams reported by consumers.
The FTC Data Book
Recent data from the FTC tells us that people lost a whopping $10 billion to scams in 2023 alone, which is $1 billion more than in 2022 and the highest reported losses to the FTC.
Financial Scam Stats
One in four people reported losing money to scams, with a median loss of $500 per person.
