Scam Trends in 2024: The Text-Scam Explosion and Investment Fraud Surge
In 2024 text-message scam losses reached about US$470 million - roughly five times the 2020 figure, according to FTC data. Task and remote-job scams grew, pig-butchering and crypto-investment fraud surged, and AI voice-cloning awareness rose.
Last reviewed 2026-06-05.
Top scams
- Fake package-delivery SMS
- Fake unpaid-toll SMS
- Wrong-number romance scams
- Task scams (small payouts, then deposits to 'unlock' earnings)
- Remote-job scams
- Pig-butchering investment scams
- Crypto investment scams
- WhatsApp and Telegram investment groups
- QR-code scams
- Marketplace fake-payment scams
- Instagram copyright-violation and Meta Business Support scams
- Business email compromise (BEC)
- Recovery scams targeting earlier victims
Platforms most affected
Common red flags
What people reported
People reported that fake task and trading platforms looked polished, with dashboards and small initial payouts that built trust before withdrawals were blocked. (Paraphrased from public discussions - anecdotal, not verified facts.)
Who was most at risk
- Crypto and investment newcomers
- Remote job seekers
- Small businesses handling invoices
- Anyone reusing passwords across accounts
Official statistics
- Investment and pig-butchering scams drove large reported losses, per cybersecurity and law-enforcement reporting.
- Task-scam and fake-job reports grew across multiple countries.
Figures are paraphrased from the official sources listed below; see those sources for exact numbers and methodology.
Example patterns from this year
Sanitised examples - placeholders only, never real links or data.
Example only: Complete simple tasks for commission - top up to unlock more.
Example only: Let me show you how I trade - start small and grow it together.
What changed from the previous year
Pig-butchering and task scams matured into organised operations, and QR-code phishing (quishing) spread further.
What to watch for
- Romance-to-investment grooming (pig butchering)
- 'Easy task' jobs that require deposits
- Quishing on parking meters, posters, and emails
Check related messages
- Is this task scam message a scam?
- Is this WhatsApp job offer message a scam?
- Is this crypto investment group invite a scam?
- Is this fake payment screenshot (marketplace) a scam?
Related scam types
If you were affected
See our step-by-step recovery guides and report through official channels using the reporting directory. Be wary of anyone who offers to recover lost money for an upfront fee.
Sources checked
- Compliance Alliance - FTC data: top text message scams of 2024 ($470M losses) - Medium reliability
- Huntress - Pig butchering scam: signs, examples & protection - High reliability
- TrendAI (Trend Micro) - Unmasking task scams - High reliability
- FBI IC3 - Senior US officials impersonated in malicious messaging campaign (2025) - High reliability
Frequently asked questions
How much did text scams cost people in 2024?
FTC data summarised in the research showed about US$470 million lost to text-message scams in 2024 - roughly five times the 2020 total.