This browser does not support the Video element.
Rise in check fraud prompts BBB warning
Check fraud is on the rise, event though paper is the least popular form of payment these days.
HOUSTON - Anyone who has ever invested their money is aware of the risk, but a recent study named investment fraud to be the costliest form of theft.
SEE ALSO: Scammers preying on people through fitness trackers, person scammed out of $100K
That very study by Carlson Law, an investment fraud law firm, also said Texas was one of the most at-risk states to lose money from investment fraud.
A total of $3.8 billion was lost due to investment fraud in 2022, Texas lost about $235 million. That's why it comes as no surprise for Carlson Law to rank the Lone Star State as the #3 most at-risk state.
This browser does not support the Video element.
Kidnap scammers using AI to create fake videos, voice recordings of loved ones
Victims say voice clones left them scared for their loved ones' lives. FOX 26 Consumer Reporter spoke with cyber security experts to learn how to prevent getting scammed and recognize the signs.
Some of the data researchers examined included the total number of victims and monetary losses, the highest average losses per victim, and the highest rates of investment fraud. They also said victims in Texas lost an average of $120,951, the 22nd most in the nation, and the 16th highest rate of investment fraud with 7.3 complaints filed per 100,000 residents.
HEAR FROM A VICTIM: 76-year-old now homeless after being scammed out of $800k life-savings
To find out more and read the full report, click here.