The Federal Trade Commission (FTC) released data on Feb. 23 that shows consumers reported losing nearly $8.8 billion nationally to fraud in 2022, a surge of more than 30 percent compared to previous year.
According to the FTC’s data, consumers lost the most money to investment scams, at more than $3.8 billion, accounting for more than 40 percent of losses last year. That amount more than doubles the amount reported lost in 2021, when fraudsters claimed more than $1.8 billion from investors.
