This is Viewpoints Explained…
Americans are losing more money to scams than ever before. The Federal Trade Commission says consumers reported losing almost sixteen billion dollars to fraud last year. That’s up by about 25 percent in just one year.
Sadly, many of these victims are seniors. In 2024, adults sixty and older reported losing almost two and a half billion dollars to fraud. Many of these cases involve one person losing more than a hundred thousand dollars through one scam.
Crypto has also become another gray area. The FBI says Americans reported losing more than seven billion dollars to crypto investment fraud in 2025. Scammers have more to work with now from fake social media accounts to cloned voices and AI generated videos that can make a bad investment look very real.
So, how do you spot a bad deal? Lookout for any promises of guaranteed returns or pressure to send money quickly. If someone claims to be an investment professional, search their name on investor dot gov to see if they’re licensed or registered with the SEC.
Also be careful if you’re asked to send crypto or pay extra fees to withdraw your money. Some fake investment sites will make it seem real by allowing people to withdraw a small amount at first and then will lock access after receiving the rest of the money.
Experts say that the more convincing these scams become, the less you can rely on appearances. A website that looks professional or a busy group chat with people sharing their positive experience doesn’t mean much anymore.
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