Web Desk
Residents of Washington, D.C., lost more than $30 million to fraud in 2024, doubling the amount reported in 2023, according to new FTC data.
This alarming rise suggests that scammers are outpacing both law enforcement efforts and consumer awareness campaigns.
D.C. Leads in Fraud Reports
With 2,509 reports per 100,000 residents, Washington, D.C., recorded the highest fraud rate nationwide. Florida and Georgia followed closely behind.
Business impersonation and online shopping scams accounted for the majority of complaints, each exceeding 1,000 cases in the District.
Who Is Most Affected?
Surprisingly, the largest group reporting fraud was individuals under 19, making up 60% of cases.
However, people aged 30-39 suffered the highest total losses, nearing $5 million. Seniors over 80 faced the greatest median losses, averaging $1,700 per victim.
Fraud Cases in Neighboring States
Virginia and Maryland also experienced substantial losses. Virginia residents lost nearly $294 million, while Maryland reported close to $199 million in fraud-related financial damage.
A high-profile “gold-bar scam” in Maryland saw scammers posing as government agents, defrauding an elderly woman of over $700,000.
Nationwide Fraud Trends
Americans collectively lost over $12.5 billion to fraud in 2024, marking a 25% increase from the previous year.
Scammers pretending to be government officials remain a major threat.
Underreported Cases and Prevention Efforts
Since FTC fraud reports are voluntary, the true extent of financial scams is likely much higher.
Companies like Visa are enhancing their fraud detection strategies to curb rising scams and protect consumers.
