Americans lost $12.5 billion to fraud in 2024, including over $5.7 billion in investment scams alone, according to the Federal Trade Commission.
Even as government agencies and nonprofits work to expose scams, criminals are becoming more sophisticated with their ruses — increasingly employing artificial intelligence to fool unsuspecting victims.
In some cases, the goal is to get money quickly before the target realizes they've been duped. More often, however, the goal is to get personal information like Social Security numbers, birthdates, bank accounts and credit card numbers.
Identity theft protection services and credit monitoring programs are a great line of defense. But being alert to the schemes fraudsters are employing is the best way to avoid falling prey to them.
Protect yourself from identity theft
1. Toll fee scam
The FBI is alerting the public about fraudulent text messages warning about unpaid tolls that must be paid or the recipient will face a $50 fine. The Internet Crime Complaint Center reports more than 60,000 people have been hit with this smishing attack.
A combination of "SMS" and "phishing," smishing sees fraudsters on both iPhones and Androids con unsuspecting victims into sharing personal information.
2. Jury duty scam
Jury duty isn't just your civic responsibility, it's a legal obligation. But scammers have been calling and emailing victims, trying to convince them they've missed jury duty and need to pay fines.
The scammer pretends to be a police officer or a U.S. Marshal threatening arrest unless payment is made immediately, often through gift cards, payment apps, cryptocurrency, or wire transfer like Western Union.
They may also ask for your Social Security number or date of birth.
According to the Federal Trade Commission, legitimate court officials would never ask for money or personal information over the phone.
3. Stimulus check scams
If you didn't file a tax return for 2021, you might still qualify for a Recovery Rebate Credit, a Covid-19 stimulus check worth $1,400. Scammers know this and are texting unsuspecting Americans telling them they're eligible and asking them to click on a link to claim it. While the credit is real, the IRS would never text you a link about it.
The link leads to a fake site designed to steal your Social Security number, credit card numbers and other personal information that can be used for identity theft.
The IRS usually communicates with taxpayers through the mail. In the rare cases the agency calls or text, it will be in response to a query from you. If you're legitimately eligible for the Recovery Rebate Credit, a check will automatically be sent to your mailing address or direct deposited into a bank account you have provided.
If you receive the text, you should delete it immediately. You can also forward it to phishing@irs.gov and report it to the BBB Scam Tracker.
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4. Cryptocurrency scams
While it has grown in popularity, cryptocurrency is still a mystery to many Americans. That makes it a tempting target for fraudsters. According to the FBI, cryptocurrency investment fraud, or "pig butchering," is the most common crypto scam to date in 2025.
"Subjects target victims online and develop a friendship or relationship before introducing a fraudulent investment opportunity in cryptocurrency," the agency said in a notice about Operation Level Up, its attempt to foil this crypto fraud.
AARP reports that the fraudsters approach targets on messaging apps, social media, even dating apps, to build trust and form a close connection. They then share news about a crypto investment opportunity with minimal risk and big returns. The criminals will tout fake profit reports but when investors try to withdraw funds, they're charged outrageous fees or the company vanishes before they can get their money.
In 2023 alone, victims 60 and older registered nearly 17,000 complaints about crypto fraud and reported losses of $1.6 billion, according to the FBI.
As of January 2025, the bureau has already notified 4,323 victims of cryptocurrency investment fraud totaling $285 million. Three-quarters were unaware they were being scammed, according to the bureau, and some were in the process of selling their home, liquidating their 401(K) plans or taking out a big loan to get in on the ground floor of this "opportunity."
If you are the victim of cryptocurrency investment fraud — or think someone has targeted you — file a report with the FBI's Internet Crime Complaint Center.
5. Employment scams
AI is aiding criminals in a variety of scams, including employment scams: According to the Identity Theft Resource Center, reports of job scams soared 118% in 2023.
The criminals use legitimate sites like LinkedIn, posting fake job listings to get "new hires" to divulge Social Security numbers and bank accounts. In other cases, victims are told they must pay for training, certifications or other work-related expenses.
According to AARP, the most common employment scams include:
- Fake job listings: Candidates are asked to pay a fee to complete their application
- Fake job offers: You may receive an unsolicited email asking for your Social Security Number or other personal information as part of the onboarding process.
- Fake interviews: You're asked to share private information to be scheduled for an interview that never materializes
- Fake employment agencies: Victims are told they need to pay a screening fee to be considered.
- Fake work-from-home jobs: You're asked to send money to pay for a laptop and other equipment.
The best way to protect yourself If you're contacted about a job opening is to visit the company website and confirm they are hiring for the advertised role. If you can, also try to confirm the recruiter is an employee.
Scammers can be inventive and extremely persuasive. CNBC Select sat down with Michael Bruemmer, head of Global Data Breach Resolution at Experian, to learn how to protect yourself against them.
Only click on links you trust
"My rule of thumb is if somebody is going to send me something that they want me to click on, they need to call me and say 'Hey Mike, this is what I'm sending you. This is the link, it's legit," Bruemmers said.
To spot phishing, check where the message is coming from: If it's claiming to be from a reputable company but sent from a generic Gmail account or has a subtle misspelling (like "amaz0n" instead of "Amazon"), it's probably a scam.
Watch for bad grammar or emails threatening you or urging you to take action quickly.
Always err on the side of caution when it comes to links and attachments. If you have doubts about whether or not an email or text is a phishing attempt, get in touch with the actual company that's supposedly sent it using their official communication channels.
Monitor your credit
Many people only discover they've been scammed by looking at their credit report and seeing new accounts, debts or addresses.
You can get a free credit report once a year from each bureau at AnnualCreditReport.com or more frequently by signing up for a credit monitoring service.
IdentityForce® UltraSecure and UltraSecure+Credit offer three-bureau credit monitoring and track your information on various sites and services, including the dark web, court records and social media.
Don't respond to calls from unrecognized sources
With scammers, sometimes all it takes is you picking up the phone and saying a few words for fraud to happen. Bruemmer says that he's set up his phone so that all calls from numbers outside of his contact list go straight to voicemail.
"Even [when you're] saying hello and your name, someone can grab a voiceprint and use that as a second factor of authentication with a financial institution or to authorize a transaction," he explains.
Don't use debit cards
While popular, debit cards don't offer the same consumer protections credit cards do and they are directly linked to your checking or savings account. That can make it harder to recoup stolen funds.
For those reasons, Bruemmers recommends sticking to credit cards for most transactions.
Scams FAQs
How do I report a scam?
To report a scam, contact the Federal Trade Commission (FTC) with details about the incident,, how you were contacted, any screenshots, information you shared and any losses you suffered.
If you were taken in by the scam, report it to your local police and contact your bank and credit card providers to check for unauthorized transactions. You should also monitor your credit report for unusual activity.
What is smishing?
A portmanteau of phishing and SMS, smishing is a phishing attack that uses text messages to trick victims into sharing personal information or clicking on malicious links. They often impersonate government agencies, banks and other legitimate outlets to lull the user into a false sense of security.
How can I check if a website is a scam?
There is no universal way to prove if a website is legitimate. Experts recommend looking at the URL for subtle misspellings, reviewing its privacy policy and contact page and checking its social media presence. You can also verify the company's ranking with the Better Business Bureau and other review sites.
In general, it's better to be suspicious than to assume positive intent.
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