FTC Reports $12.5 Billion Lost to Scams in 2024, with Social Media, AI, and Crypto Contributing
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According to the Federal Trade Commission (FTC) of the United States, approximately 2.6 million people reported being victims of fraud in 2024, resulting in total losses of $12.5 billion. This figure represents a significant increase compared to the $2.5 billion lost in 2023. Social media, artificial intelligence, and cryptocurrencies have contributed to this rise. The scams include phone calls about extended car warranties.