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The median fraud loss was $410. ... People lose big money when someone offers to "help" them invest: The median reported loss for investment scams was $7,700 in 2023, up from $5,000 in 2022 ...
Americans lost $10 billion to fraud in 2023, which is the highest this figure has ever been, according to the Federal Trade Commission. The losses were 14% higher last year than they were in 2022.
Losses from cryptocurrency-related frauds and scams increased 45% in 2023 from 2022, totaling more than $5.6 billion, as scammers increasingly took advantage of the speed and irreversibility of ...
A pig butchering scam (in Chinese sha zhu pan [2] or shazhupan, [3] (Chinese: ĉçŞç), translated as killing pig game) [1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.
The following contains a list of trading losses of the equivalent of US$100 million or higher. Trading losses are the amount of principal losses in an account. [ 1 ] Because of the secretive nature of many hedge funds and fund managers, some notable losses may never be reported to the public.
Lois Greisman, FTC's division of marketing practices associate director, said more than $10 billion in fraud losses were reported to the commission in 2023, which was a 14% increase in reported ...
Grant, along with his sons, invested $200,000 of capital to the firm (Grant & Ward), and the financial operations were left entirely to Ward. After a number of bad investments erased the Grants' initial stake, Ward hid the loss by falsifying the firm's ledgers, and turned to a Ponzi scheme to attract new money and heighten the firm's reputation.
Most of the fraud-related financial losses Hoosiers suffered in 2023 involved investment schemes, according to the report. Those losses topped nearly $12 million.