D.C. residents lost millions more to fraud last year
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District residents lost over $30 million to various forms of fraud last year, per new FTC data — double the amount from 2023.
Why it matters: The spike in D.C. and nationwide suggests fraudsters are outpacing both law enforcement and efforts to educate consumers on how to protect themselves.
Zoom in: D.C. residents (2,509) filed the most FTC reports per 100,000 residents last year for fraud and other topics, trailed by Florida and Georgia.
- Business imposter and online shopping scams were the two highest causes reported, with over 1,000 District complaints each.
Stunning stat: Many fraudsters prey on older, less digitally savvy people — but the 19 and under age bracket made up the largest percentage group (60%) reporting fraud in D.C. last year.
- The 30-39 age group saw the highest total losses, close to $5 million. Meanwhile, the 80 and over subset suffered the highest median loss, close to $1,700.
Zoom out: Virginia and Maryland residents also suffered significant losses to fraud last year, losing nearly $294 million and $199 million, respectively.
- A high-profile 'gold-bar scam' where people posed as government agents cost one elderly Maryland woman more than $700,000, among several cases in the area.
The big picture: Americans reported losing over $12.5 billion to fraud last year — up a staggering 25% from 2023.
- Scams where perpetrators pretend to be government representatives are particularly hot right now.
Caveat: FTC fraud reports are voluntary, and many instances of fraud and other scams go unreported — meaning all these numbers are probably undercounts.
What's next: Companies like Visa are stepping up efforts to detect and fight back against fraud and scams, Axios' Sam Sabin reports.