Report finds Kansans lost $58 million to scams in 2022

TOPEKA, Kan. (WIBW) – A new report has found that of the $10 billion lost to scammers in 2022, Kansans accounted for $58 million in lost funds.

A new study by Social Catfish, an online investigation service, has found that online scammers conned Americans out of $10 billion for the first time ever. A record $10.3 billion was stolen in the U.S. in 2022 – that is more than the GDP of 66 countries.

Social Catfish noted that the total marks a new record following $6.9 billion in 2021. In Kansas, a total of 2,399 victims lost around $58 million.

The report also found that America is the most-scammed nation in the world due to residents’ reliance on technology. Since most victims send money to foreign fraudsters, U.S. law enforcement officials have no jurisdiction. The overwhelming majority of stolen funds is never recovered.

Key findings from Social Catfish’s 31-page study include cryptocurrency losses, stolen funds recovered and the easiest targets:

• Crypto accounts for nearly 35% of all losses. The 2022 losses were fueled by a record $2.57 billion in crypto scams.
• Only 4.2% of stolen funds are ever recovered. The Federal Bureau of Investigation’s IC3 recovered $433 million of the total $10.3 billion lost. Around 73% of the recovered money was found in the accounts of domestic fraudsters.
• The U.S. is the most-scammed country with 466,501 victims. The UK had about 284,291 victims while all other countries had fewer than 6,000 victims.
• Teens have seen the largest increase in lost money. Victims under the age of 20 saw a 107% increase in money lost from 2021-22 – the largest among all age groups.
• The top 10 most scammed states include California, Florida, New York, Texas, Georgia, New Jersey, Illinois, Pennsylvania, Alabama and Arizona.
• Among the 5,500 romance scam victims polled, 81% said they were too embarrassed to file a report at the time.

To avoid getting scammed in the future, Social Catfish has suggested the following tips:

• Never give money or personal information to anyone that has never met in person.
• Confirm the identity of the person on the other end with a reverse image search to confirm they are who they say they are.
• Do not invest without consulting a trusted financial advisor and doing thorough research.
• Red flags include poor grammar, refusing to video chat and seeking payment in gift cards or cryptocurrency.
• Be careful with crypto and only use reputable exchanges.

For more information about the study, click HERE.

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