Overall investment losses last year increased 38 percent to $4.57 billion.
Although scammers target all age groups, people above 60 years of age are very vulnerable.
The year 2023 witnessed a staggering increase in cryptocurrency-related investment frauds, with a total loss of approximately $3.94 billion, marking a significant jump of 53 percent from the previous year. This data, as reported by the United States Federal Bureau of Investigation (FBI), is a stark reminder of the growing threat of investment fraud.
The total losses from investment frauds, including other types, also surged 38 percent, reaching a staggering $4.57 billion.
“These scams are designed to entice those targeted with the promise of lucrative returns on their investments,” the report by the FBI stated.
Old Peoples Were Very Vulnerable
The data from the FBI report reveals a concerning trend, the majority of victims of investment scams in the past year were above 30 years of age. More alarmingly, a significant number of complaints, 6,404 to be precise, were received from individuals above 60.
Over the years, many regulators globally have warned against investment scams, like phishing, clones of legitimate platforms, and rampant romance scams. Fraudsters even impersonated the officials of regulators, trying to extort money from potential victims.
Although the number of reported phishing attempts marginally dropped to 298,878 from 300,497, the rise in losses indicates other tactics adopted by the fraudsters.
Investment fraud losses reported to the Internet Crime Complaint Center. Source: FBI/IC3
Rising Losses to Scams
The report further considered complaints about many other types of scams that took the total losses in 2023 to $12.5 billion. Scammers primarily targeted the age group beyond 60 years, who lost about $3.4 billion. Further, the losses appeared to be increasing by age group: people aged between, 20 and 29 years, lost $360.7 million, 30 to 39 years, lost $1.2 billion, 40 to 49 years, lost $1.5 billion, and 50 to 59 years, lost $1.7 billion.
Earlier, the FBI issued multiple warnings against the rampant cryptocurrency scams. It also alarmed the public against fraudsters claiming to have the ability to recover lost cryptocurrencies.
Meanwhile, the cryptocurrency market is going through a bullish cycle, with Bitcoin hitting an all-time-high value beyond $70,000. Such optimism creates opportunities for scammers.
The year 2023 witnessed a staggering increase in cryptocurrency-related investment frauds, with a total loss of approximately $3.94 billion, marking a significant jump of 53 percent from the previous year. This data, as reported by the United States Federal Bureau of Investigation (FBI), is a stark reminder of the growing threat of investment fraud.
The total losses from investment frauds, including other types, also surged 38 percent, reaching a staggering $4.57 billion.
“These scams are designed to entice those targeted with the promise of lucrative returns on their investments,” the report by the FBI stated.
Old Peoples Were Very Vulnerable
The data from the FBI report reveals a concerning trend, the majority of victims of investment scams in the past year were above 30 years of age. More alarmingly, a significant number of complaints, 6,404 to be precise, were received from individuals above 60.
Over the years, many regulators globally have warned against investment scams, like phishing, clones of legitimate platforms, and rampant romance scams. Fraudsters even impersonated the officials of regulators, trying to extort money from potential victims.
Although the number of reported phishing attempts marginally dropped to 298,878 from 300,497, the rise in losses indicates other tactics adopted by the fraudsters.
Investment fraud losses reported to the Internet Crime Complaint Center. Source: FBI/IC3
Rising Losses to Scams
The report further considered complaints about many other types of scams that took the total losses in 2023 to $12.5 billion. Scammers primarily targeted the age group beyond 60 years, who lost about $3.4 billion. Further, the losses appeared to be increasing by age group: people aged between, 20 and 29 years, lost $360.7 million, 30 to 39 years, lost $1.2 billion, 40 to 49 years, lost $1.5 billion, and 50 to 59 years, lost $1.7 billion.
Earlier, the FBI issued multiple warnings against the rampant cryptocurrency scams. It also alarmed the public against fraudsters claiming to have the ability to recover lost cryptocurrencies.
Meanwhile, the cryptocurrency market is going through a bullish cycle, with Bitcoin hitting an all-time-high value beyond $70,000. Such optimism creates opportunities for scammers.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
SEC Approves Nasdaq Pilot Allowing Investors to Trade Tokenized Stocks
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture