Did you know it’s National Consumer Protection Week? According to the Federal Trade Commission, Americans reported losing more than $12.5 billion to fraud in 2024 — a 25% jump from the year before. Investment scams accounted for $5.7 billion of that, and imposter scams cost consumers nearly $3 billion more. Because most fraud goes unreported, the actual figure is almost certainly higher.

The number of fraud reports was nearly flat from 2023 to 2024, but more people who reported a scam said they actually lost money. That figure jumped from 27% in 2023 to 38% in 2024. That means scams are not only more frequent but also more effective.

Employment scams have surged. Reported losses jumped from $90 million to $501 million between 2020 and 2024, with the number of reports tripling in that same period, according to the same FTC report. And in 2024, consumers reported losing more money to scams paid via bank transfer or cryptocurrency than through all other payment methods combined, making recovery especially difficult once money is sent.

For victims, the financial loss is often just the beginning. Getting money back is difficult and frequently impossible. Knowing where to turn for help can make a real difference.

To mark National Consumer Protection Week, we’re participating in two free, hour-long webinars — and there’s still time to RSVP for both!

Tomorrow (March 4 at 12:30 p.m. Eastern): We’re teaming up with the FINRA Investor Education Foundation and the Better Business Bureau Institute for Marketplace Trust to examine the latest scam data, emerging tactics, and practical tools for helping victims recover. RSVP here.

Thursday (March 5 at noon Eastern): We’re joining Amazon, the BBB Institute for Marketplace Trust, and the Global Cyber Alliance for Collaborative Approaches to Scam Prevention and Victim Support. We’ll talk about cross-sector strategies to combat consumer scams and strengthen victim support. RSVP here.

Want to know more about National Consumer Protection Week? Here are some resources from the Federal Trade Commission.

As always, we support all crime survivors, including those who have been victims of scams. Visit victimconnect.org for free, confidential, 24/7 support.