In the ever-evolving world of scams, the Federal Trade Commission (FTC) has crunched the data and released its annual fraud report, which gives Michiganders an overview of how much money was lost by how many people.

Related: Michigan Seniors the Most Vulnerable To 'Romance Scams'

Let's look at the rollercoaster of lies totaling $10 BILLION in losses in 2023. Here are some of the highlights:

Imposter Scams are Tops in 2023

Michigan's Scam Shock: Over $10B Lost in Fraud Nationwide

Your winner, and still champion, Impost Scams. This fraud category managed to rake in $2.7 billion in 2023. These scams are when thieves impersonate someone you trust,

  • Your bank's fraud department
  • The government
    • IRS
  • A relative in distress
    • Grandson who needs money
    • Daughter kidnapped
  • Technical support
  • Well-known business

As with all scams, email was the number one means of first contact.

Seniors Remain Michigan Scammers' Favorite Target

Michigan seniors are most victimized by romance scammers

While some younger adults (20-29) reported being scammed more frequently, it was older adults (70+) who saw the greatest financial losses. Surprisingly, seniors are targetted most often by romance scammers.

Michigan's Scam Victims in 2023: By the Numbers

The FTC reports in its annual report that it received a total of 118,304 reports from Michigan residents, costing consumers over $151.6 million. That is a median loss of $410 to state residents, according to the FTC's Consumer Sentinel Network.

Related: Michigan Scammers Are 'Virtually Kidnapping' Victims For Ransom

Here's a look at the top report categories filed by Michigan residents to the FTC in 2023

  1. Identity Theft
    • 23,621
  2. Imposter Scams
    • 17,466
  3. Credit Bureaus, Information Furnishers, and Report Users
    • 16,865
  4. Online Shopping and Negative Reviews
    • 7,978
  5. Banks and Lenders
    • 6,065

Nationally the top scams ranked slightly differently. Here's an overview of the FTC's 2023 report:

2023 Scammy Snapshot Fraud in the USA

Ranking States with Most Online Scams 2022

Here's a state-by-state look, using data available from the Federal Trade Commission (FTC), ranking states by total amount of money lost to fraud in 2022.

Gallery Credit: Scott Clow

Tips to Avoid IRS Scams During Tax Season

There are so many scams going on around tax season trying to steal your refund check, here are some tips to make sure you don't become a victim.

Gallery Credit: Billy Jenkins

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