In this article:
The U.S. Federal Trade Commission (FTC) received more than 1 million complaints of identity theft in 2023, and more than 2.6 million complaints of related fraud for the same period, resulting in total financial losses that exceeded $10 billion.
The number of fraud complaints reported to the FTC and affiliate agencies increased 1.6% in 2023 to 2,603,556, up from 2,563,678 in 2022. Total financial losses associated with fraud increased nearly 16% in 2023 to $10.3 billion, up from $8.9 billion in 2022.
Meanwhile, median losses per reported fraud case dropped about 23% to $500 in 2023, down from $650 in 2022. The number of identity theft complaints filed during that same one-year period decreased by 6.3%, to 1,036,961 from 1,107,053.
Fraud Statistics
In 2023, the most common of the 10 categories of fraud complaints defined by the FTC involved imposter scams. In this type of scam, a criminal posing as a trusted entity, such as the representative of a familiar business or a government agency, tricks victims into transferring money or disclosing personal information. More than 856,000 imposter scam complaints were filed in 2023, an increase of more than 12% over the number reported in 2022.
The second most common category of fraud reported in 2023 was online shopping scams, including failure to deliver or stand behind items purchased through online retailers or auctions. It had more than 376,000 complaints, an increase of about 3% compared with 2022.
Investment-related scams, involving bogus seminars or opportunities to invest in day trading, precious metals, art, coins or other investment vehicles, ranked fourth in total number of complaints filed in 2023, at 110,388 cases. However, that category had the highest proportion of cases involving monetary losses (75%) and the greatest total financial losses of any category, at more than $4.8 billion, an increase of more than 24% from 2022. Median losses per case from investment-related scams were also the greatest of any category, at $8,000, up 60% from 2022.
| Top Fraud Incident Report Categories for 2023 | |
|---|---|
| Category | Number of Complaints |
| Imposter scams | 856,284 |
| Online shopping and negative reviews | 376,460 |
| Prizes, sweepstakes and lotteries | 158,070 |
| Investment-related scams | 110,388 |
| Business and job opportunities | 108,459 |
| Internet services | 102,105 |
| Telephone and mobile services | 97,052 |
| Health care | 74,036 |
| Travel, vacations and timeshare plans | 56,559 |
| Foreign money offers and fake check scams | 32,183 |
Source: FTC
Identity Theft Statistics
The FTC and affiliated agencies fielded 1,036,961 complaints of identity theft in 2023, roughly 6% fewer than the 1,107,053 logged in 2022.
The most common form of identity theft, involving hijacked and newly opened bogus credit card accounts, prompted 426,038 complaints in 2023, a reduction of about 5% from 448,466 in 2022.
The identity theft category that saw the largest increase in the number of complaints for 2023 involved the creation of bogus government documents and/or false government benefits claims. These accounted for 102,205 complaints for the year, a 68% increase over the 60,845 reports fielded in 2022.
| Top Identity Theft Report Categories | |
|---|---|
| Category | Number of Complaints |
| Credit card fraud | 426,038 |
| Other identity theft | 279,313 |
| Loan or lease fraud | 171,932 |
| Bank fraud | 145,285 |
| Government documents or benefits fraud | 102,205 |
| Employment or tax-related fraud | 92,206 |
| Phone or utilities fraud | 87,461 |
Source: FTC
How Scammers Engage Victims
Most of the fraud complaints made to the FTC and affiliated agencies in 2023 (56%) specified the communication channel criminals used to connect with their victims.
The most widely used method, email, was cited in 358,540 reports and led to median financial losses of $571 per victim.
Phone calls were the second most widely cited engagement method, with 298,210 cases, but had the highest noted median financial loss, at $1,485 per victim.
| Identity Theft Reports and Losses by Contact Method | |||
|---|---|---|---|
| Contact Method | Number of Reports | Total Losses | Median Loss |
| 358,540 | $430 M | $571 | |
| Phone call | 298,210 | $851 M | $1,485 |
| Text | 230,961 | $372 M | $1,000 |
| Website or app | 193,734 | $895 M | $224 |
| Social media | 181,327 | $1,487 M | $341 |
| Other | 167,380 | $1,246 M | $625 |
| Online ad or pop-up | 43,741 | $224 M | $168 |
| 42,351 | $81 M | $799 |
Source: FTC
Identity Theft Statistics by State
Ranked by number of complaints filed per 100,000 residents, the tiny District of Columbia ranks first among states and U.S. territories in 2023, with 478, or a total of 3,268 complaints for the year, up 11% from 2,932 in 2022. Georgia ranked second with 458 complaints per 100,000 residents, or a total of 48,614 for the year—19% fewer than the 60,197 complaints logged there in 2022.
Rounding out the ranks of the top five states for ID theft complaints by population were Florida, Nevada and Connecticut.
Identity Theft Statistics by State, 2023
How Quickly Can You Resolve Identity Theft-Related Issues?
The 2023 Consumer Aftermath Report from the nonprofit Identity Theft Research Center (ITRC) surveyed a random sampling of the 14,817 identity fraud victims who sought help from the ITRC in 2022, as well as a representative sampling of U.S. consumers who reported being victims of identity theft but did not consult the ITRC.
Asked how long it took to resolve their identity fraud issues:
- 10% of victims who consulted the ITRC reported resolving their issues within one week.
- 65% of ITRC victims reported issues were still unresolved as many as 12 months after their discovery.
In contrast, among victims who did not consult the ITRC:
- 40% reported it took less than a week to resolve their issues.
- 10% were still resolving their issues months after discovering them.
What Should You Do if You're an Identity Theft Victim?
If you believe you are a victim of identity theft, it's important to act as quickly as possible to stem potential damage. The following steps are a good way to begin:
- Report the fraud. Submit a report about the theft to the FTC's IdentityTheft.gov website or call the FTC's toll-free hotline at 877-438-4338.
- You have the right to place a fraud alert or security freeze on your credit reports. A fraud alert asks lenders to verify your identity before processing new credit applications. A security freeze, also known as a credit freeze, restricts the use of your credit report and effectively blocks all new credit applications (including legitimate ones you may wish to make) until you suspend it.
- Contact financial institutions and lenders you work with. If fraudulent accounts have been created in your name, alert existing lenders and banks so they know to look for indicators of additional theft.
- Review bank and credit card statements carefully in the wake of discovering fraud or identity theft. Unfamiliar transactions and even small discrepancies could indicate criminal activity. You should report them immediately to trigger a bank investigation.
- If necessary, notify the IRS. If you are the victim of tax-related ID theft, such as someone filing your tax return in your name to fraudulently collect your refund, contact the IRS as quickly as possible.
How to Protect Yourself From Identity Theft
Proven measures for protecting yourself from identity theft include the following:
- Secure electronic devices. Activate automatic screen lock on your smartphone, tablet or laptop, and activate face or fingerprint recognition if available, to prevent criminals from accessing your device if they get their hands on it.
- Use multifactor authentication. Take advantage of this security measure if it's offered by financial institutions, health care providers and other companies you trust with your personal and fiscal information. Multifactor authentication adds a step to your account login process—typically requiring entry of a code sent to your phone—but can be very effective in thwarting digital break-in attempts.
- Use a password manager. Using and reusing passwords that can be easily guessed, or that have been stolen and shared by criminals on the hidden dark web, puts your personal accounts at risk. A free password manager such as 1Password or LastPass, which generates and stores highly secure passwords that no one could easily guess (or remember), can help you keep your accounts locked down.
- Check credit reports regularly. Reviewing your credit reports on a regular basis can help you spot suspicious activity, such as accounts you don't recognize and unfamiliar hard inquiries, which may indicate criminals are trying to apply for credit in your name. You can get your Experian credit report for free anytime, and free credit reports from all three national credit bureaus (Experian, TransUnion and Equifax) weekly at AnnualCreditReport.com.
- Don't store credit card information online. Data breaches that expose customer data, including credit card numbers, account usernames and passwords, have become an all too regular occurrence. Saving your credit card information for future checkouts can increase the risk that your information will be stolen.
- Consider identity theft protection. Monitoring services such as those included with an Experian premium membership can alert you to activity on your credit reports and financial accounts so you can detect potential fraud early and take quick action.
The Bottom Line
Fraud and identity theft remain major concerns in the U.S., with related financial losses in 2023 reaching an all-time annual high of $10.3 billion. Awareness and preparation are your best defenses against becoming a victim, and tools such as free credit monitoring from Experian can help you spot criminal activity and shut it down before it does lasting harm.