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Most dangerous scams of 2024 revealed; how to protect yourself
Updated: 1:07 PM EDT Apr 8, 2025
Americans lost a record $12.5 billion to scams in 2024, according to the Federal Trade Commission. Now a new Better Business Bureau report reveals the most dangerous scams when it comes to losing money or having your identity stolen.The BBB’s latest Scam Tracker Risk Report analyzed data from its Scam Tracker and found that scammers are increasingly using financial grooming, where they build trust over time to exploit victims.“The biggest thing is the long game, that people were nurtured into the scams,” says Melanie McGovern with the Better Business Bureau.The riskiest scams of 2024 were investment and cryptocurrency schemes. Over 80% of victims reported losing money, often due to promises of high returns with minimal risk. Experts recommend asking for credentials and verifying claims to avoid falling prey.“Asking questions is the best way to avoid a scam, especially when it comes to investment and cryptocurrency,” says McGovern.Employment scams came in second, with young adults aged 18 to 34 being the primary targets. Scammers often promise remote jobs, sending unsolicited messages to lure victims.Romance and friendship scams ranked third on the list, with scammers targeting victims on dating platforms and social media. These schemes often involve emotional manipulation, leading victims to lose thousands of dollars.The BBB also highlighted imposter scams, with scammers frequently pretending to represent Publishers Clearing House, the U.S. Postal Service, and PayPal.Consumers are urged to remain vigilant and verify any unsolicited communications to protect themselves.To view the full Scam Tracker Risk Report, click here.
Americans lost a record $12.5 billion to scams in 2024, according to the Federal Trade Commission. Now a new Better Business Bureau report reveals the most dangerous scams when it comes to losing money or having your identity stolen.
The BBB’s latest Scam Tracker Risk Report analyzed data from its Scam Tracker and found that scammers are increasingly using financial grooming, where they build trust over time to exploit victims.
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“The biggest thing is the long game, that people were nurtured into the scams,” says Melanie McGovern with the Better Business Bureau.
The riskiest scams of 2024 were investment and cryptocurrency schemes. Over 80% of victims reported losing money, often due to promises of high returns with minimal risk. Experts recommend asking for credentials and verifying claims to avoid falling prey.
“Asking questions is the best way to avoid a scam, especially when it comes to investment and cryptocurrency,” says McGovern.
Employment scams came in second, with young adults aged 18 to 34 being the primary targets. Scammers often promise remote jobs, sending unsolicited messages to lure victims.
Romance and friendship scams ranked third on the list, with scammers targeting victims on dating platforms and social media. These schemes often involve emotional manipulation, leading victims to lose thousands of dollars.
The BBB also highlighted imposter scams, with scammers frequently pretending to represent Publishers Clearing House, the U.S. Postal Service, and PayPal.
Consumers are urged to remain vigilant and verify any unsolicited communications to protect themselves.
To view the full Scam Tracker Risk Report, click here.
