People are losing more money to scammers than ever before. Here’s how to keep yourself safe

With the rise of the digital economy, scammers now reach targets by social media and text, as well as phone and email. — AP

NEW YORK: With the help of technology, scammers are tricking people out of more money than ever before. But there are steps you can take to keep your money and information safe.

In 2022, reported US consumer losses to fraud totalled US$8.8bil – a 30% increase from 2021, according to the most recent data from the US Federal Trade Commission. The biggest losses were to investment scams, including cryptocurrency schemes, which cost people more than US$3.8bil, double the amount in 2021.