The Latest Scams: Here's What You Need to Know in 2024

Every day, new, increasingly sophisticated online scams crop up — it gets tough to know how to protect your cybersecurity and how to spot these scams before you become unwitting prey. Hackers and other cybercriminals are often members of large, organized groups hoping to bilk unsuspecting people from all walks of life from their personal data, money, and even their identities. However, a focused bad actor can create complex fraud attempts on their own, too. With the rapid advancements of generative AI and other tech tools, online scams have become hard to avoid. The latest scams may make the cyberworld seem pretty bleak to the average internet user. But fear not! When you’re aware of the tactics bad actors can use online, it’s easier to avoid falling for their schemes. Let’s take a look at some of the latest scams to hit the internet and discover ways to spot and avoid them. Online scams are fraudulent schemes intentionally made to target internet users into giving away their personal data, financial information, and more. These cons can run the gamut from questionable websites or links that are created to install malware on your smart device to fake GoFundMe campaigns to AI deepfakes of celebrities created to spread misinformation. It’s vital to keep your guard up against online scams anytime you’re using the internet — whether you’re browsing through Instagram, checking your email, or using your banking app, if a cybercriminal can find a way to lure you in, they’ll make every attempt to do so. From 2019 to 2023, cybercrimes increased by 100% — from over 400,000 documented instances to over 800,000. Scams in 2024 followed the same trend. Without question, online fraud has become pervasive. Although there are federal measures to help protect us, it’s next to impossible to stop every online fraudster before they launch their attacks. Ultimately, we need to vigilantly look out for signs of online scams on our own. Here are some 2024 statistics about online scams that you should know: Con men have existed since the dawn of time. In the pre-internet era of the 20th century, slick operators of bogus pyramid companies, MLMs, “get rich quick!” schemes, and similar scams duped victims into handing over their life savings. Although the intentions of fraudsters haven’t changed, the methodology they use to search for and reel in victims continues to grow more sophisticated. And, since the birth of the internet, a multitude of scams have infected the internet. The evolution of online scams includes: The most prevalent scamming technique today has been commonplace since the  debut of email. If you were using email in its earliest years, you probably remember the inbox infiltration of messages from a “Nigerian Prince” or  “long-lost relative” eager to share their millions with you … you just needed to send $500, and reply with your bank routing number, SSN, and other confidential information. Also known as 419 scams, these phishing attacks were easy to spot and provided comic relief, but some souls still fell prey to their promises of quick riches. Even in the earliest MySpace days of social media, cybercriminals searched for ways to practice fraud online. Malevolent actors still target social media in a variety of ways, but the earliest form of social media scams came via friend requests. For example, the friend request scam (still used today) clones a social media account of someone you already know. If you accept the request, the “friend” messages you and asks for personal information or money, and then clones your account to send requests to all of your contacts. In the mid-2000s, online job postings became a new and innovative method for top tier talent acquisition. Unfortunately, bogus job postings cropped up almost immediately. These fake ads included promises of high wages, vague job descriptions, and fictitious company names. Typically, the criminals behind these online scams would include a form asking applicants for their personal data, which they then used to steal money and identities, or sold for a profit on the dark web. Online purchase scams emerged as the top scam in 2020 and accounted for a third of reported scams in 2021. Approximately 75% of people targeted by these scams lost money. Online purchase scams usually appear on fake shopping pages or websites that offer merchandise. They’re set up like legit sites, have a standard-looking shopping page, and allow you to plug in your credit card information and buy products, but your purchases never arrive. It’s easy to get duped by these scams if you don’t look for telltale signs like .com URLs and secure shopping pages (look for the little lock icon to appear at the far left of your search bar). Most cybercriminals create online scams to cast a wide net and reel in victims from all demographics. However, certain generations are more prone to fall for specific types of scams. We collectively worry about our aging parents or grandparents falling prey to online fraud — and rightfully so — but surprisingly, Gen Zers and Millennials are susceptible, too. For example, in 2020, internet users under the age of 40 lost more money to online scams than their older counterparts. Here are the scams that every generation is most likely to fall victim to: Baby Boomers lose the most money to romance scams (especially catfishing), sweepstakes and lotteries, and business imposters, imposter government agencies or representatives, among other schemes. Gen Xers and Millennials alike lose money to online shopping fraud, business and government impostors, fake check schemes, romance scams, and student loan scams. As Gen Zers continue to reach adulthood, they’re more apt to fall prey to scams that take advantage of the latest social media trends, like cyberbullying, dating app schemes, vishing, and fake celebrity social media profiles that include demands for money or personal information. Although many of the past, familiar hacks and cyberattacks remain in place today, they’ve evolved, too. For example, blatant phishing emails like the Nigerian Prince paved the way for fraudsters posing as credible vendors and directing unsuspecting internet users to click on a malevolent link and plug in their personal and banking information. Some of the mainstays have increased in frequency and ferocity of attack, too. For example, according to the FTC (Federal Trade Commission), government scams in 2024 have risen. Criminals pose as representatives of government agencies and urgently demand cash payments by threatening unsuspecting consumers with jail or other significant consequences. In 2023 alone, government agency scams cost consumers over $76 million in cash, and a staggering $618 million in all forms of payment. You may understand the need to block text messages from “FedEx” that claim you owe $500 for a package. However, as new online, phone, and snail mail scams crop up daily, it’s important to increase your awareness so that you can protect yourself. Let’s take a look at seven scams to watch out for in 2024. The innovation of generative AI provides amazing progress and benefits … and it also widely opens the door to scams. In the past few years, AI deepfakes have become so prevalent that in 2024, new federal and state legislation has been introduced to curb them. Many AI deepfakes are used to spread misinformation and either mimic the voice of a political candidate (for example, the President Joe Biden phone call deepfake) or generate bogus images of or messages from a celebrity (the Taylor Swift deepfake). However, these scams can be used to steal your personal information or money, too — via a phone call or a video soliciting donations. Deepfake technology has become increasingly difficult to detect, but typically, you might notice weird vocal intonations or odd physical movement. Trust your instincts. If you feel that something is off and a voice or image might be AI, you’re probably right. Catfishing scams crop up via social media or dating sites, and often involve romantic overtures. Catfishing cybercriminals typically dupe lonely hearts by posing as someone they are not — for example, a person of extreme wealth, an adventurer, or a celebrity. Usually, catfishing includes bogus profiles with suspiciously professional-looking photos and bios that seem too good to be true. The catfisher behind the profile begins love-bombing you or proposing a visit — they just need a little help with money first. This cybercriminal works hard to gain the trust of their victims before conning them out of their savings or identity. If your online paramour refuses to meet in person or connect via a video chat, there’s a good chance you’re being catfished. According to Chain Analysis , cryptocurrency scams account for the most significant online scams in 2024. As crypto becomes more mainstream, crypto criminals find a larger number of victims to target, and in 2023, Bitcoin ATMs defrauded customers out of a whopping $110 million. Cryptocurrency scams are prevalent because bitcoin and other crypto currencies don’t fall under any one regulatory agency or federal laws. Crypto scam artists promise riches, and may even reflect a growth in a user’s initial investment, but never pay out. Many of these dubious schemes are advertised on social media or through mass marketing phishing emails. To add insult to injury, crypto recovery scams promise duped crypto investors a way to recoup their money for a small fee — once an individual pays the fee, the “recovery” company disappears or stops answering messages. In September 2024, the FBI released findings that crypto fraud increased by 45% in 2023, and accounted for almost half of all online fraud. In the spring of 2024, the IRS issued a stark warning for consumers: Be aware of charity scams. The agency listed these scams as one of their annual  “Dirty Dozen” — the most common and dangerous scams of the year. Fake charities usually seem to crop up surrounding natural disasters like floods , hurricanes, and wildfires, and surged in popularity during the COVID-19 pandemic. One of the most prolific types of fraud in 2024, charity scams can utilize door to door solicitations, phone calls, snail mail, and, especially, social media. Whether through a fictitious organization that suddenly sprung up on the heels of a tragedy, or a fake GoFundMe, fake charities steal your identity, money, personal information, and confidential data. These scams play on people’s heartstrings and take advantage of the collective desire we share to help those in need. Perhaps one of the scariest scams to evolve in the 21st century, family imposter scams have grown harder to detect, thanks to generative AI. From virtual kidnappings to calls from a “police station,” these scams prey upon our worst fears. Family imposter schemes may involve a call or a video message from an unknown kidnapper demanding a ransom payment for your loved one, and include audio that may sound like someone you know. These scams also frequently use phone calls with a purported law enforcement officer telling you that your loved one is in jail or in the hospital, and you need to send money immediately. Family imposters are successful because they use terror, urgency, and possible deepfakes to motivate you. The latest phishing scams might use a reputable brand or company to target victims. Extremely legitimate-seeming emails or texts flood your inbox from Amazon or Experian. Each includes an urgent message, sometimes even indicating nefarious activity on your account or a precipitous drop in your credit score. These phishing messages don’t include telltale signs of scams like bad grammar or weird syntax, and the brand logo they use looks valid. However, upon closer inspection, each message contains a link for you to follow and “rectify” an issue. If you check the address of a questionable sender, it’s usually something like “ [email protected] ” and clearly not from Amazon or any other brand with which you have an account. From supplements that make big, false claims to unverified treatments that will cure all of your health challenges and life woes, scams have infiltrated the ever-growing wellness industry. Any wellness product that seems to appear out of thin air and offers you the world is probably a scam. For example, a testimonial that reads, “I weighed over 500 lbs and was bald, but I took the delicious Bogus4You supplement every day for a month and now I’m at a healthy weight, enjoy a full head of hair, and? I won the PowerBall! — Joe S. Scottsdale, AZ” is a neon red flag to avoid a product. If a supplement doesn’t include a list of ingredients, sourced and credible medical research, and features lofty testimonials from doctors without names or users like “Debbie R. from Wisconsin,” you’re being scammed out of your hard-earned money. Even worse, wellness products without real research to back claims can lead to disastrous health consequences. The latest scams lurking around the corners of seemingly safe spaces may feel overwhelming, but there are ways to protect yourself and avoid the adverse impact of scams. Here are some tips to help you protect yourself and outsmart both online and offline scams: Federal agencies including the Department of Justice, FBI, FTC, IRS, and the Securities and Exchange Commission include valuable information about scams on their websites as well. For more tips on how to avoid online scams and the latest news on cybersecurity, check out the Easy Prey podcast from What Is My IP Address , available on your favorite podcast platforms, and visit our blog . The main goal of scammers is to separate their victims from their valuable assets, including money, data, or physical objects, for financial gain. Typically, scammers target individuals who are not technologically savvy and aim to drain their bank accounts or run up their credit cards for personal benefit. The earliest recorded case of fraud occurred in 300 BC. A Greek sea merchant, Hegestratos, took out an insurance policy, known as a bottomry, on his ship and cargo. A bottomry allowed merchants to borrow money with the agreement to pay it back with interest once they delivered their cargo. Charles Ponzi (Securities Exchange Company) – Loss estimated at $20 million. The term “Ponzi scheme” is named after Charles Ponzi’s famous pyramid scheme. Ponzi infamously promised returns of 50% in 45 days, which were actually paid with funds from new investors. Georgia is the state where financial scams are most prevalent, with 437 fraud reports for every 100,000 residents during the first quarter of 2023. South Dakota is least affected by financial scams, with 132 fraud reports per 100,000 citizens. Nationwide, imposter scams are the most common fraud type.