New report reveals the top five U.S. States that lost the most millions of dollars in investment scams

New report reveals five U.S. States that lost the most millions of dollars in investment scams

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Ace News Today - New report reveals the top five U.S. States that lost the most millions of dollars in investment scams
(Investment Fraud, Image credit: Twitter)

A new study finds Florida ranks No. 2 for investment fraud, losing $306 million in 2022, with California earning the No. 1 spot for that year. Nationally, a record $3.82 billion was stolen in 2022, up from $1.6 billion the previous year.  ~ Carlson Law

From large scale fraudsters like Sam Bankman-Fried and Bernie Madoff, down to the small time scammers working out of their basements, investment fraud has become the No. 1 type of fraud in America. The unprecedented rise is due to crypto-investment scams and newer artificial intelligence ‘deep fake videos’ like the ones at the end of this article that are designed to trick you into believing a trusted public figure is encouraging you to invest.

Carlson Law released its first annual study on the “States Most At-Risk for Investment Fraud” after analyzing the most recent data from the FBI and the FTC released in 2023.

The Report’s Key Findings

Highest Total Losses in U.S.

  1. California ($869M)
  2. Florida ($306M)
  3. Texas ($235M)
  4. New York ($173M)
  5. New Jersey ($110M)

Highest Average Losses per Victim

  1. New Hampshire ($204,447)
  2. California ($176,463)
  3. Nebraska ($163,565)
  4. Wyoming ($161,472)
  5. Kansas ($156,790)

Tips to Avoid Investment Scams

  • Research Thoroughly, Especially for Crypto: Thoroughly research before making any investment. Verify their licenses with regulatory agencies and be wary of unsolicited “too good to be true” offers. Be even more skeptical when doing due diligence for any crypto investments.
  • Vet Financial Advisors, Even Trusted Ones: Consult a reputable financial advisor before making any investments. However, given much fraud emanates from these very same experts, consult several different advisors, and perform your own due diligence.
  • Be Proactive and Stay Informed: Knowledge is the best defense against investment fraud. Stay up to date on the latest scams and learn how to avoid them.

If you believe you are the victim of investment fraud, file complaints with the SEC,  FTC and the FBI.

(Source:  Carlson Law)  /  (Cover photo: Image credit: Twitter)

Posted by Richard Webster, Ace News Today   /   Follow Richard on Facebook, Twitter & Instagram

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