Scammers tell all kinds of stories to try to get your money or information. They might call, pretend to be from a government agency, and say you owe a fine. Or they may pose as a friend or love interest online who supposedly needs money for an emergency. A scammer might offer you a (fake) job, but say you need to pay a fee before you get hired. Or they might tell a different lie.
Signs of a Scam
Though the details might change, scams usually have some things in common. And knowing what they are can help you recognize—and then avoid—scams that come your way.
• Scammers contact you unexpectedly. Don’t respond to unexpected calls, emails, texts, or social media messages that ask for money or personal information. If you’re not sure if a call or message is real, reach out to the business, organization, or person—even if they’re claiming to be a friend or relative—using contact information you looked up yourself and know to be true.
• Scammers tell you to hurry. They don’t want you to have time to think or to check out their story. So slow down. Talk to someone you trust.
• Scammers tell you to pay—and HOW to pay. Don’t pay anyone who contacts you out of the blue and insists you can only pay with cash, a gift card, a wire transfer, cryptocurrency, or a payment app. Scammers want you to pay these ways because once you do, it’s hard to track and almost impossible to get your money back.
Top Scams
Even though the number of fraud reports held steady in 2024, more people lost a lot more money to fraud. One in three people who reported fraud said they lost money (up from one in four last year), adding up to $12.5 billion (up $2.5 billion from 2023). People lost over $3 billion to scams that started online, compared to approximately $1.9 billion lost to more “traditional” contact methods like calls, texts, or emails. However, people lost more money per person (a median of $1,500) when they interacted with scammers on the phone. And, once again, imposter scams topped the list of scams reported.
Here are some other things to know:
• The biggest scam losses happened by bank transfer or payment. Among all payment methods, people reported losing more money through a bank transfer or payment ($2 billion), followed by cryptocurrency at $1.4 billion.
• Investment scams led to big losses. A majority (79%) of people who reported an investment-related scam lost money, with a median loss of over $9,000. The $5.7 billion losses in this category were up about $1 billion in 2024 over the prior year.
• People reported losing money more often when contacted through social media. Most people (70%) reported a loss when contacted on a social media platform—and lost more money overall ($1.9 billion).
• Job scams and fake employment agency losses jumped—a lot. From 2020 to 2024, reports regarding these types of scams nearly tripled and losses grew from $90 million to $501 million.
• And here’s a statistic that may surprise you: Younger people lost money more often than other age groups. People ages 20-29 reported losing money more often than people aged 70 and older. But when older adults lost money, they lost far more than any other age group.
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Article compiled by information provided by the Federal Trade Commission.
In addition to reporting fraud to ReportFraud.ftc.gov, if you believe you’ve received a fraudulent call, notify the Westchester County Department of Consumer Protection immediately at 914.995.2155.
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25 May 2025
0 Commentshow to avoid scams
Scammers tell all kinds of stories to try to get your money or information. They might call, pretend to be from a government agency, and say you owe a fine. Or they may pose as a friend or love interest online who supposedly needs money for an emergency. A scammer might offer you a (fake) job, but say you need to pay a fee before you get hired. Or they might tell a different lie.
Signs of a Scam
Though the details might change, scams usually have some things in common. And knowing what they are can help you recognize—and then avoid—scams that come your way.
• Scammers contact you unexpectedly. Don’t respond to unexpected calls, emails, texts, or social media messages that ask for money or personal information. If you’re not sure if a call or message is real, reach out to the business, organization, or person—even if they’re claiming to be a friend or relative—using contact information you looked up yourself and know to be true.
• Scammers tell you to hurry. They don’t want you to have time to think or to check out their story. So slow down. Talk to someone you trust.
• Scammers tell you to pay—and HOW to pay. Don’t pay anyone who contacts you out of the blue and insists you can only pay with cash, a gift card, a wire transfer, cryptocurrency, or a payment app. Scammers want you to pay these ways because once you do, it’s hard to track and almost impossible to get your money back.
Top Scams
Even though the number of fraud reports held steady in 2024, more people lost a lot more money to fraud. One in three people who reported fraud said they lost money (up from one in four last year), adding up to $12.5 billion (up $2.5 billion from 2023). People lost over $3 billion to scams that started online, compared to approximately $1.9 billion lost to more “traditional” contact methods like calls, texts, or emails. However, people lost more money per person (a median of $1,500) when they interacted with scammers on the phone. And, once again, imposter scams topped the list of scams reported.
Here are some other things to know:
• The biggest scam losses happened by bank transfer or payment. Among all payment methods, people reported losing more money through a bank transfer or payment ($2 billion), followed by cryptocurrency at $1.4 billion.
• Investment scams led to big losses. A majority (79%) of people who reported an investment-related scam lost money, with a median loss of over $9,000. The $5.7 billion losses in this category were up about $1 billion in 2024 over the prior year.
• People reported losing money more often when contacted through social media. Most people (70%) reported a loss when contacted on a social media platform—and lost more money overall ($1.9 billion).
• Job scams and fake employment agency losses jumped—a lot. From 2020 to 2024, reports regarding these types of scams nearly tripled and losses grew from $90 million to $501 million.
• And here’s a statistic that may surprise you: Younger people lost money more often than other age groups. People ages 20-29 reported losing money more often than people aged 70 and older. But when older adults lost money, they lost far more than any other age group.
—————————————————-
Article compiled by information provided by the Federal Trade Commission.
In addition to reporting fraud to ReportFraud.ftc.gov, if you believe you’ve received a fraudulent call, notify the Westchester County Department of Consumer Protection immediately at 914.995.2155.