Tennessee fraud losses surge to $157M in 2024
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Tennesseans reported losing more than $157 million to various forms of fraud last year, per new FTC data — up a whopping 38% from 2023.
Why it matters: The spike, which is consistent with the national trend, suggests fraudsters are outpacing both law enforcement and efforts to educate consumers on how to protect themselves.
Driving the news: Impostor scams were the most prevalent in Tennessee last year, per FTC reports.
The intrigue: There were 850 reports of romantic scams in Tennessee last year, but that category was among the most costly.
- They accounted for more than $18 million in reported losses statewide.
Between the lines: The raw number of FTC fraud reports from Tennessee remained relatively steady year-over-year, sitting at nearly 40,000 in 2024.
- But the FTC noted a national spike in the share of victims reporting that they lost money as a result of fraud: 38% in 2024, up from 27% in 2023.