By PAUL O’DONOGHUE, Senior Correspondent
US CONSUMERS lost more than $12.5 billion to fraud in 2024, a 25% increase from the previous year, according to newly released Federal Trade Commission (FTC) data.
The organization said that, unlike previous years, the rise in losses was not due to more fraud reports. Instead, a larger percentage of victims lost money. In 2023, 27% of fraud reports involved financial losses. That figure jumped to 38% in 2024, the FTC said.
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