Florida leads U.S. in fraud and identity theft, FTC data shows
Writer: Eleana Teran
January 2025 — Florida has been named the fraud capital of the U.S., according to Federal Trade Commission (FTC) data for 2024. With 1,682 fraud reports per 100,000 residents over the first three quarters of 2024, the Sunshine State leads the nation in cases of fraud, identity theft, and associated losses.
FTC data indicates that Florida logged 113,572 fraud reports, resulting in losses of $624.1 million. During this same period, imposter scams emerged as the most common type of fraud. These scams, which exploit emotions like fear or trust, accounted for 34,876 reports statewide, including 8,244 in the Miami-Fort Lauderdale-Pompano Beach metro area.
Florida’s demographics may contribute to its vulnerability, with its large elderly population being a frequent target of healthcare scams. Medicare-related fraud led the state’s healthcare fraud rankings over the first half of the year, with 3,828 reports, or 179.9 per million people. However, nationwide FTC data challenges the stereotype that older generations are most at risk. While residents aged 80 and over across the U.S. reported the highest median loss at $1,503, individuals aged 30-39 had the highest fraud loss reports per 100,000 population at 130.94. This trend highlights that younger demographics nationwide are increasingly falling victim to fraud schemes, highlighting the evolving nature of financial scams across age groups.
Cybercrime plays a growing role in these schemes, with emerging technologies equipping criminals with more sophisticated tools. “Cybercrime remains a significant challenge as well, with these emerging technologies giving criminals even more sophisticated tools to commit fraud. One solution we’re seeing is dual authentication — using codes sent to an agreed-upon device. But even that’s not foolproof,” David Schwartz, president and CEO of the Financial & International Business Association (FIBA), told Invest: in a recent interview.
The Miami-Fort Lauderdale-Pompano Beach area emerged as a hotspot for fraud in the first three quarters of 2024, with 130,800 reports, equating to 2,142 per 100,000 residents. Imposter scams led the top five fraud categories with 8,224 cases. Online shopping fraud and negative reviews followed with 4,548 reports, while fraudulent business opportunities accounted for 2,099 cases. Internet services fraud saw 2,035 reports, and investment-related fraud rounded out the list with 1,540 cases.
Other significant categories included credit bureaus and information furnishers, which accounted for 77,505 reports. Banks and lenders followed with 5,597 reports, debt collection saw 4,861 cases, auto-related fraud accounted for 3,458 reports, and credit card-related fraud totaled 3,081 reports.
When it comes to identity theft, Florida also led the nation. It recorded 84,207 identity theft cases in the first three quarters of 2024, with credit card fraud accounting for 41,553 cases — more than half of all incidents. The state had 395 reports per 100,000 residents during this period.
In the Miami-Fort Lauderdale-Pompano Beach metro area, there were 40,306 identity theft reports, amounting to 660 reports per 100,000 residents. Credit card fraud led the types of identity theft with 22,472 cases, followed by other forms of identity theft with 12,469 cases. Loan or lease fraud totaled 6,606 reports, while phone or utilities fraud accounted for 1,776 reports. Bank fraud and employment or tax-related fraud rounded out the list, with 1,686 and 951 cases respectively.
On the technology front, artificial intelligence is also becoming a tool in the fight against fraud and cybercrime. “AI and innovation are areas we’re closely monitoring. Some of our member banks have already implemented AI and machine learning platforms, particularly within compliance systems to flag suspicious transactions,” Schwartz explained.
“While AI can analyze vast amounts of data quickly, human oversight is still required to make final decisions. In this sense, AI is a tool, not a replacement for human judgment.”
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