FBI says Texans, especially older residents, lost billions in 2024 online scams

Internet scammers stole a staggering $16.6 billion from Americans last year, with Texans losing over $1.3 billion to cyber criminals, according to the FBI’s 2024 Internet Crime Complaint Center (IC3) annual report.

The FBI received nearly 860,000 complaints nationwide in 2024, marking a 33% increase in losses from the previous year. Texas ranked second nationally with 62,347 complaints and $1.35 billion in reported losses, trailing only California.

For Kerr County’s substantial senior population, these statistics represent a growing threat. Adults over 60 reported the highest losses nationwide at $4.8 billion, with an average individual loss of $83,000.

“Scammers are increasingly using the internet to steal Americans’ hard-earned savings,” wrote B. Chad Yarbrough, FBI Operations Director for Criminal and Cyber in the report’s introduction. “Cryptocurrency has become an enticing means to cheat investors, launder proceeds, and engage in other illicit schemes.”

Investment fraud topped the list of most lucrative scams with $6.5 billion in losses, followed by business email compromise ($2.7 billion) and tech support fraud ($1.4 billion).

The report identified “pig butchering” — where scammers build relationships before introducing fraudulent cryptocurrency investment opportunities — as a significant trend. The FBI’s Operation Level Up identified 4,323 victims of this scheme in 2024, with 76% unaware they were being scammed.

Fraud targeting seniors often includes tech support scams, which generated nearly $983 million in losses among older Americans. Many victims reported being directed to cryptocurrency ATMs and withdrawing cash to send to scammers.

Local authorities urge residents to report suspected internet crime to IC3.gov and their local FBI field office. The FBI’s Recovery Asset Team successfully froze $561 million in 2024, representing a 66% success rate in recovering funds when victims reported fraudulent transactions quickly.

For Kerrville seniors, the report serves as a critical reminder that digital vigilance is necessary even in small Texas Hill Country communities.