The U.S. Federal Trade Commission (FTC) revealed today that Americans lost $8.8 billion to fraud in 2022, an increase of more than 30 percent over the previous year.

Consumers reported losing more money to investment scams—more than $3.8 billion—than any other category in 2022. That amount more than doubles the amount reported lost in 2021. The second-highest reported loss amount came from imposter scams, with losses of $2.6 billion reported, up from $2.4 billion in 2021.

CSN Top Fraud 2022

The FTC received fraud reports from 2.4 million consumers last year, with the most commonly reported being imposter scams, followed by online shopping scams. Prizes, sweepstakes, and lotteries; investment-related reports; and business and job opportunities rounded out the top five fraud categories.

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The FTC’s Consumer Sentinel Network is a database that receives reports directly from consumers, as well as from federal, state, and local law enforcement agencies, the Better Business Bureau, industry members, and non-profit organizations. Twenty-three states contribute data to Sentinel.

Sentinel received more than 5.1 million reports in 2022; these include the fraud reports detailed above, as well as identity theft reports and complaints related to other consumer issues, such as problems with credit bureaus and banks, and lenders. In 2022, there were over 1.1 million reports of identity theft received through the FTC’s IdentityTheft.gov website.