5 Things to Know About the FTC’s Scammy Snapshot

April 24, 2025

For decades, law enforcement urged consumers to report fraud, but few did. It was just too embarrassing. Now, as more people bravely share their experiences, the stigma of being scammed is fading, and more victims are stepping forward.

In fact, more than one in three people now say they’ve lost money to a scam. 

Greater reporting has led to powerful outcomes—from raising public awareness and helping others avoid scams to providing law enforcement with better information to catch the crooks.

The Federal Trade Commission (FTC) is among the agencies leveraging consumer reporting data to slow the pace of fraud. Their latest infographic is a good example, as it highlights five trends that deserve a closer look. 

Current Fraud Trends

Imposters top the list. Emerging technologies, like deepfakes, combined with effective scams, like the “Say yes” scheme, are making it easier for fraudsters to impersonate legitimate people so they can make real-sounding requests of their target’s friends and family. 

Job scammers are making hay. The money stolen from victims of job scams more than quadrupled to $501 million in 2024. As more companies lay off workers and the resources of employment agencies become even more strapped, opportunistic job scammers will no doubt kick their schemes into an even higher gear. 

Fake investments are soaring. Scams tied to investment schemes, like pig butchering, continue to generate massive losses, as fraudsters find new ways to lure everyday people into parting with their money. And if $501 million lost to job scams sounds bad, consider this: investment scams cost Americans $5.7 billion (with a ‘B’) in 2024 alone.

Internet savvy doesn’t guarantee protection. Counterintuitively, younger people are falling for scams at higher rates. 44% of reports to the FTC came from people in their 20s. That’s nearly double the 24% reported by those in their 70s.

Social media is an open doorway. Scams that start on social media often lead to big losses. In fact, these schemes account for the highest overall reported losses at $1.9 billion total. One example is scammers posing as online retailers, promoting fake products through ads or influencer-style posts, then vanishing as soon as payments are sent.

Scammers are getting bolder and their schemes more sophisticated. But the more we talk about it, the more we can fight back. By sharing what they experience, victims turn personal losses into public awareness and give fraudsters fewer places to hide.

You can contact Bank Iowa’s team for help. We can assist in reviewing possible fraud situations and provide tools and resources that may be helpful.

You may also share your story with the FTC at reportfraud.ftc.gov. Your experience could stop someone else from falling into the same trap.