One in five U.S. adults have lost money to online scams: How to avoid being next

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A new report released by the FBI has revealed that one in five U.S. adults has fallen victim to online scams, losing a grand total of $1.3B to fraudulent schemes in 2023 alone. This alarming statistic is yet another reminder at how prevalent – and lucrative - online scams have become in just a few years. From phishing attacks to fake online stores, scammers are becoming more creative, and their schemes are evolving to ensnare more victims.

So, what are these scams, and how can you avoid them? Let’s break down the key findings and arm you with the knowledge to steer clear of digital fraud.

The scale of the problem: One in five hit by scams

According to the FBI report, 20% of U.S. adults have lost money to online scams in 2023. This isn’t a minor problem—it’s a significant portion of the population. The types of scams responsible range from fake tech support calls to fraudulent online marketplaces and romance scams. And that’s just the tip of the iceberg as many scammed victims often fail to report the issue to law enforcement authorities.

These scams have one thing in common: they’re designed to play on people’s emotions or urgency, convincing victims to part with their money before they even realize what’s happened. And the damage isn’t just financial—many victims experience a profound emotional toll as well.

Common types of online scams

Here’s a closer look at some of the most common scams that have been targeting U.S. adults:

• Phishing: Emails or texts designed to trick you into revealing personal or financial information.
• Fake E-Commerce sites: Fraudulent websites that offer products at low prices, but deliver nothing once you pay.
• Tech Support scams: Calls or pop-ups pretending to be from legitimate companies, claiming there’s an issue with your computer or with the software installed on it.
• Romance scams: Fraudsters create fake profiles on dating apps and social media, developing relationships and then asking for money. Some other times, scammers engage in conversations via instant message apps, and then lure the victim into a complex “pig butchering” attack that can span for months.

Why are scams so effective?

One reason so many people fall for scams is because fraudsters have become incredibly good at making their schemes look legitimate. They use realistic websites, emails, and even phone numbers that mimic trustworthy organizations. They prey on human emotion, exploiting people’s desire to trust or help others.

What makes these scams even more dangerous is their ability to target anyone. It doesn’t matter whether you’re tech-savvy or just starting out online—scammers are skilled at adapting their tactics to suit their victims. The financial losses can be devastating, but the emotional impact often lingers long after the scam has ended.

Protect yourself from online scams

The good news is that there are steps you can take to protect yourself. Here are some essential tips:

• Be cautious of unsolicited emails or messages: If someone contacts you out of the blue, don’t be quick to trust it. Check the sender’s email or phone number carefully.
• Verify the legitimacy of online stores: Before buying from a website, look for reviews and make sure the site is secure.
• Don’t give out personal information: Scammers often ask for things like your password or bank details—be sure you’re certain before sharing anything.
• Stay informed: Knowing the latest scams and how they operate will make it easier for you to recognize red flags.

Share your experience with the community

Have you been approached by a scammer? Would you like to pass your knowledge along to help the others? Share your scam stories with the community!