Scams Cost Consumers $8.8 Billion in 2022 — The Top Five Frauds

Losses from scams jumped to shocking new highs last year. These are the five most common frauds.

scams and fraud via imposter
(Image credit: Getty Images)

Scams continued to break records for separating consumers from their hard-earned money in 2022. New data from the Federal Trade Commission (FTC) reveals that last year, consumers reported a huge increase in losses from fraudsters compared to the previous year. See the top five scams and find out what you can do to safeguard your assets and not fall victim to a fraudster.

2022 scams shatter previous records

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CategoryNumber of ReportsTotal $ LossMedian $ Loss
1. Imposter Scams725,989$2,666.7M$1,000
2. Online Shopping327,609$358.1M$180
3. Prizes, Sweepstakes, Lotteries143,132$301.9M$907
4. Investments104,703$3,820.0M$5,000
5. Business, Job Opportunities95,399$367.4M$2,000

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Ben Demers
Audience Engagement Manager, Kiplinger.com

Ben Demers manages digital content and engagement at Kiplinger, informing readers through a range of personal finance articles, e-newsletters, social media, syndicated content, and videos. He is passionate about helping people lead their best lives through sound financial behavior, particularly saving money at home and avoiding scams and identity theft. Ben graduated with an M.P.S. from Georgetown University and a B.A. from Vassar College. He joined Kiplinger in May 2017.