(The Center Square) – Michigan residents lost a record-breaking $11 million to personal data scams last year, marking the state’s highest losses since federal tracking began nearly a decade ago.
That is 37.5% higher than the $8 million lost in 2023, according to CNC Intelligence, a data forensics firm.
Its report found that, in 2024, Michiganders had the highest reported loss since the Federal Bureau of Investigation began keeping records in 2016.
Matthew Stern, CEO of CNC Intelligence, told The Center Square in an exclusive interview that everyone is susceptible to scams.
“I have seen people from all walks of life become victims – we are all suitable targets for cybercriminals,” Stern said. “The people I speak with are often professionals, retirees, or small business owners who are embarrassed they were fooled. But these scams are designed by organized criminal groups that test and refine their scripts the way a tech company tests a product.”
The report added that consumers should be especially cautious around the holidays, when scammers engage in many different types of scams. Those can include everything from fake deliveries to retailer imposter schemes and they often try to play on the potential victim’s emotions.
“Don’t make decisions out of pressure or under stress,” Stern said. “Scammers will often use ‘fear of missing out’ or fear as a tactic to get us to make quick decisions we normally wouldn’t.”
In 2023, 1,573 Michiganders reported falling victim to personal data scams. The average loss per victim was $7,300, up from $5,900 in 2023.
When comparing Michigan’s data to other states, even though there were more people scammed in Michigan, the average loss per victim was much less. Take Colorado for example. There, only 1,187 Coloradans reported falling victim to personal data scams, but the average loss per victim was $20,000.
Stern said the access to personal information online has helped scammers increase their operations in recent years.
“With so much personal information readily available online – combined with advances in AI, deepfakes, and the growing trade in stolen data – scammers can now craft highly personalized and convincing stories,” he said. “Because deepfakes have become so sophisticated, I recommend that family members have a secret code word they use in times of emergencies to verify that it really is them. The holidays are a great time to discuss a code word and speak with our loved ones, of all ages, on how we can best protect ourselves.”
Nationally, there was a similar upward trend. Reported losses to personal data scams reached $1.5 billion in 2024, which was double the $744 million recorded in 2023.
It is likely even more money was lost to scammers, as the report took data just from 2024 FBI Internet Crime Complaint Center reports – something that not all victims might take the steps to complete.
Stern said there are steps to take, both to avoid scams, and even if already been victimized by a scam.
“I always tell people: slow down, double-check everything, and talk to someone you trust before sending money,” he said. “It’s much easier to prevent a scam than to try and clean up the damage afterward. If you’ve already been scammed, don’t stay silent. Report it to your local police and contact your bank or exchange right away. I also recommend filing a report at ic3.gov, which helps law enforcement connect related cases and identify organized networks behind the scams.”
CNC Intelligence is a digital forensics firm that specializes in crypto asset tracing, and works to help victims of scams get their money back after a scam. While the firm specializes in crypto asset tracing, they can help victims of all scams.
