Texts account for more than 22% of all fraud reports, according to USAFacts, an online company that churns through government data and publishes what it finds interesting. Credit: ArLuther Lee Credit: ArLuther LeeAccording to the FTC data, Americans lost nearly $330 million through text message scams in 2022. “Text message scams are particularly effective.”According to their calculations, the median amount of money lost in consumer fraud scams in 2022 was $650. And just a fraction — about 6% — of text scams lead to a loss of money but when they do, oh boy. Investment scams are less common, but nearly $150 million was lost to those schemes, the FTC said.

Source: Forbes February 23, 2024 23:39 UTC