Why Reporting Fraud to the FTC and FBI Protects You and Others

When it comes to identity theft and fraud, many victims think reporting is only necessary if they lose money or personal information like their Social Security number. However, this is a misconception. In 2024, only 38% of fraud reports to the Federal Trade Commission (FTC) involved monetary losses. Reporting fraud, regardless of financial impact, plays a vital role in combating scams and protecting the public.

Why should you report fraud? By submitting a report, you act as a good Samaritan, helping reduce the risk of others falling victim to the same scam. The FTC and FBI's Internet Crime Complaint Center (IC3) analyze these reports to identify emerging scam trends and educate the public. Recent scams include toll road fraud, fake USPS texts, and impersonation of government agencies.

Chelsea Binns, a certified fraud examiner, emphasizes that the more data the FTC and IC3 receive, the better they can alert consumers and law enforcement. These agencies publish annual reports breaking down fraud by age, location, and type, providing valuable insights for prevention efforts.

Reporting fraud also supports law enforcement investigations. Complaints are added to the Consumer Sentinel database, accessible to thousands of federal, state, and local agencies. IC3 analysts review complaints and share intelligence to help build cases against cybercriminals.

How to Report Fraud to the FTC and FBI

You can report fraud to the FTC at reportfraud.ftc.gov and cybercrimes to IC3 at ic3.gov. In 2023, these agencies received over 3.4 million complaints. While you may not receive direct feedback, your report contributes to broader fraud prevention efforts.

If you experience identity theft, report it at identitytheft.gov or call 1-877-438-4338. The FTC provides a recovery plan tailored to your situation, which may include contacting creditors and fraud departments. Identity theft protection services can simplify this process with white glove restoration.

Recovering Money and Protecting Yourself After a Scam

Unauthorized debit and credit card transactions are often reversible, but sending money directly to scammers is harder to recover. Contact your bank immediately to attempt cancellation. Cryptocurrency transactions are typically irreversible. Protect yourself by changing passwords, enabling two-factor authentication, and monitoring card alerts.

Be cautious of anyone promising to recover lost funds after a scam. Often, fraudsters impersonate recovery services to scam victims again. Staying informed and vigilant is key to avoiding further losses.