Americans lost record $10 billion to fraud in 2023, FTC warns

FTC data indicates U.S. consumers reported over $10B in fraud losses in 2023, led by investment scams ($4.6B) and imposter scams ($2.7B), with bank transfers and cryptocurrency causing the most financial harm. The agency logged 5.4M reports to its Sentinel database, including 1.1M identity theft reports, and emphasizes underreporting and the importance of reporting via ReportFraud.ftc.gov and IdentityTheft.gov; Chainalysis also noted $1.1B in ransomware payments for context.