“Record Losses and Investment Fraud in the USA – Alarming FBI Data”

FBI warns of record financial losses for Americans due to investment scams, especially cryptocurrency-related. With losses reaching $4.57 billion, fraudsters target vulnerable individuals, leading to substantial damages. Age breakdown reveals older adults as primary victims. FBI stresses vigilance to combat rising cybercrimes and protect citizens from financial fraud.

FBI: Record Financial Losses for Americans Due to Investment Scams
The Federal Bureau of Investigation (FBI) warns that investment scams have become the primary type of cybercrime, resulting in record financial losses for U.S. citizens last year. According to the latest data, investment fraud, often promising unrealistic profits, cost Americans a staggering $4.57 billion, marking a 38% increase compared to the previous year when losses amounted to $3.31 billion.

Cryptocurrency-Related Scams at the Forefront

The FBI particularly highlights the rise of cryptocurrency-related scams, which start with social manipulation, such as romance scams or trust scams, to evolve into investment frauds using cryptocurrencies. These actions have also led to a growing number of scams related to recovering funds lost in investments, taking advantage of vulnerable individuals who, as a result, end up losing their savings.

Record Losses and Complaints

Annual losses from investment scams significantly exceeded losses from ransomware incidents nationwide, which amounted to only $59.6 million. Attacks like Business Email Compromise (BEC) or scams impersonating customer support personnel or government agencies also caused substantial financial damages, reaching tens of billions of dollars.

Throughout 2023, cybercrime cost residents of the United States a massive $12.5 billion, with the FBI receiving as many as 2,412 complaints daily. Out of this surge of complaints, nearly half came from individuals over 60 years old who fell victim to investment frauds, with losses in this age group totaling $3.4 billion.

Summary of Losses by Age Groups

Data indicates that the group aged under 20 and in the 20-29 age bracket collectively lost $400 million due to investment scams. Individuals in the 30-39 age group lost $1.2 billion, those in the 40-49 age group lost $1.5 billion, while individuals between 50 and 59 years old lost $1.7 billion.

Importantly, complaints filed by the age group of 60 years and above (101,068) exceeded the number of complaints filed by individuals in the 50-59 age group (65,924) as well as all other age groups combined, indicating a particular vulnerability of older individuals to financial scams.

Facing a growing number of investment scams, the FBI urges citizens to exercise caution when making financial decisions and to report any suspicions of financial crimes to prevent further losses and criminal activities.