Scammers Steal $12.5B in 2024

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Many financial fraudsters

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greater fraud risk

Mashable

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Business

Business & Economics

Scammers could win big thanks to DOGE's government cuts

Summary

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79% Informative

Scammers stole $12.5 billion from Americans in 2024 , new data from the Federal Trade Commission shows.

The percentage of people who say they've been the victim of financial fraud increased from 27% to 38% .

Experts worry that government cuts, including those implemented by Elon Musk's Department of Government Efficiency , will expose consumers to greater fraud risk.

AI tools allow scammers to create visual and vocal deepfakes that deceive victims into believing they're communicating with a real person or legitimate government, bank, or law enforcement official.

Consumers should contact their members of Congress if they have concerns about DOGE -related cuts.

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semi-formal

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English

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