Crypto scams are on the rise, and they will break all previous records in 2022. $3.82 billion has been stolen.
The United States saw an unprecedented increase in investment fraud crimes in 2022. Americans have lost more money through this type of crime. According to the Federal Trade Commission, $3.82 Billion was lost through investment fraud in 2018. This represents a 128% rise from the $1.67 Billion that was lost in 2021.
The rise of the terrorism threat is unprecedented. investment fraud It is a result of a mixture of traditional and contemporary tactics. The bulk of the increase came from cryptocurrency-related scams, which accounted for a record $2.57 billion in losses in 2022. Ponzi schemes and pyramid scams were common forms of investment fraud. Some of these new scams used artificial intelligence, such as voice-cloning to deceive the victims.
Interestingly, despite an overall increase in investment scams, the number claims made against financial advisors containing allegations of fraud actually decreased from 744 in the year 2021 to just 699 in the year 2022 according to the Financial Industry Regulatory Authority.
The State of Investment Fraud Analysis in 2023
Carlson Law, a law firm specializing in investment fraud, released a new study entitled “The 2023 State of Investment Fraud.” The study looked at the most recent FBI Internet Crime Report and FTC Consumer Sentinel Network Databook, revealing key findings on the current state of investment fraud.
California ranked first in the total amount of money lost due to investment scams, with $870 million. Washington, D.C., ranked first in the number of victims who filed complaints to the FBI, 26 per 100,000 residents, for investment fraud. New Hampshire was the state with the most victims, and the average victim lost $204,447.
Top 20 States for Investment Fraud
The study also identified those 20 states which will be most affected by investment fraud between 2022 and 2022. The list includes:
1. California
2. Texas
3. Florida
4. New York
5. North Carolina
6. Georgia
7. Illinois
8. Ohio
9. Pennsylvania
10. Virginia
11. Michigan
12. New Jersey
13. Massachusetts
14. Washington
15. Arizona
16. Tennessee
17. Indiana
18. Maryland
19. Missouri
20. Colorado
It is important to be cautious and vigilant when evaluating investment opportunities, as investment fraud is increasing. Investors can protect themselves from fraudsters by staying up-to-date on the latest tactics and scams.
Recover Investment Losses
Are you experiencing investment losses? You should consult a fraud attorney. Haselkorn & Thibaut is a reputable and trustworthy investment fraud law firm. The lawyers of the firm have extensive experience in securities litigation and arbitration. They work tirelessly to make sure their clients receive the justice and compensation that they deserve.
Haselkorn & Thibaut has a success rate of 98% and has recovered millions in compensation for investors.
Do not hesitate to take action if you suspect you are a victim of investment fraud.
The firm’s investment fraud attorneys will assess the case and advise you on how to best recover your losses. If there is no recovery, you will not be charged.
Contact Haselkorn & Thibaut today for a free consultation at 1-800-856-3352 or website at InvestmentFraudLawyers.com.
