LAS VEGAS (April 22, 2025) — Americans lost a staggering $12.5 billion to scammers last year — and the fraudsters aren’t slowing down. The numbers paint a troubling picture, with 2024’s losses jumping 25% from the previous year, according to Federal Trade Commission data. The FTC received fraud reports from 2.6 million consumers last year, which was roughly the same as the year before. However, the percentage of people who reported losing money to fraud or scams increased from 27% in 2023 to 38% in 2024. Nevada was hit particularly hard, with 24,331 residents filing fraud reports and losing more than $138 million to scammers in 2024 alone.
In response to this growing threat, the Nevada Bankers Association (NBA) is sounding the alarm and offering helpful tips for consumers as increasingly sophisticated financial scams sweep through the Silver State. “We’re seeing increasingly sophisticated scams that can fool even the most careful consumers,” said Phyllis Gurgevich, president of the Nevada Bankers Association. “Our member banks are committed to protecting their customers, but education remains our strongest defense against fraud.”
The NBA highlights several red flags that should alert consumers to potential scams:
· If someone demands immediate payment through wire transfer, cryptocurrency, or gift cards.
· When callers claim to be from government agencies and request personal information.
· If you’re pressured to act quickly with threats or promises of huge rewards.
· When someone asks you to deposit a check and send money back to them.
“The most effective way to prevent fraud is to stop it before it happens,” Gurgevich said. “We want Nevadans to know that legitimate financial institutions will never pressure you to make immediate decisions about your money.”
The NBA recommends these essential protective measures:
1. Never share account credentials, PINs, or Social Security numbers over the phone or email.
2. Take time to research and verify any unexpected financial opportunities.
3. Use multi-factor authentication on all financial accounts.
4. Check bank statements regularly for unauthorized transactions.
5. Contact your bank directly using official and verified bank phone numbers if you suspect fraudulent activity.
Banks across Nevada report that scammers often impersonate trusted institutions, including banks, government agencies, and well-known companies. The NBA emphasizes that legitimate organizations will never request sensitive information through unsolicited calls or emails.
About Nevada Bankers Association
NBA is the united voice of Nevada’s diverse banking industry. Members are dedicated to providing the best financial products, services and resources to drive and support economic growth, job creation and prosperity throughout the state of Nevada. Visit www.nvbankers.org.
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