Wednesday, April 1, 2026, may be April Fool’s Day, but when it comes to scams, now is the time to strengthen online habits and stay alert concerning digital scams. Fraud activity continues to climb nationwide. According to the Federal Trade Commission (FTC), consumers reported more than $12.5 billion in losses in 2024 – a 25% increase from the prior year.

Investment scams had the highest monetary loss in 2024 with $5.7 billion in losses, followed by $2.9 billion lost to imposter scams. Consumers also lost more money through bank transfers and cryptocurrency than all other payment methods combined. These trends continue to rise, with scammers adopting more aggressive tactics, including artificial intelligence (AI)-generated impersonation, social media-based deception and more.

When it comes to fraud and scams, beware of the top five fraud categories reported in 2025, based on Federal Trade Commission data.

Imposter scams – 516,724 reports

Imposter scams remain the most reported fraud type in the country. Scammers continue posing as banks, government agencies, family members or well-known companies, now using AI-generated voices, spoofed phone numbers or convincing emails. These scams pressure people to act quickly, send money or share account information. Customers should verify any unexpected request by contacting the organization directly using a verified phone number.
Remember, the IRS and other legitimate organizations/agencies will NOT ask you to wire them money, ask for a prepaid gift card or wire transfer.

Online shopping and negative reviews – 193,020 reports

Online shopping scams continue to grow, driven by fraudulent ads on Facebook, Instagram, TikTok and other platforms. In August 2025, the FTC warned consumers about “big discount” social media ads impersonating real brands, which often link to fake websites designed to steal money or personal information. Shoppers may receive a counterfeit product or nothing at all.
Reduce the potential of fraud by researching the seller, comparing prices and using a credit card for purchases. Scammers often push customers toward gift cards, wire transfers, payment apps, or cryptocurrency – all red flags.
Remember, if it is free, it may be too good to be true.

Internet services – 118,071 reports

These scams include fake tech-support calls, phony antivirus subscriptions, and pop-up warnings claiming your device is compromised. Scammers often request remote access or immediate payment. Remember, no one from big business is calling to “fix” your computer. Avoid clicking on pop-ups and contact service providers using only verified customer service numbers.

Business and job opportunities – 75,364 reports

Scammers continue targeting people searching for jobs or supplemental income. Fake job postings, business “starter kits,” and work-from-home offers often require upfront payment or ask applicants to transfer money during the “hiring process.” Legitimate employers never ask new hires to pay fees or move funds for them. Signs of a scam could also be a job promise, offering a secret to getting the job, or offering a certificate to improve your chances of employment.

Investment-related scams – 66,703 reports

Investment scams remain one of the most expensive fraud categories. High-pressure cryptocurrency schemes, fake trading platforms and AI-driven “advisors” continue to promise guaranteed returns. If an investment sounds too good to be true, it likely is. Independent verification is critical.

While these may be the most common scams, other tricks include:
  • Romance scams – If someone contacts you on social media or a dating website and they ask for money, stop! You may be the target of a romance scam.
  • Grandkid scams – Scammers often impersonate family members to extort money. When you answer, they may address you as “Grandma?” or “Grandpa?” Do NOT fall for their tricks. Contact your family, a trusted financial partner or law enforcement.
  • Phishing – Does an email look suspicious? Don’t open it! Do not click on links from senders you do not know or on messages you are not expecting.
  • Vishing – This occurs when scammers make fraudulent phone calls to get sensitive information. If you don’t know the caller, do not answer. Or, hang up.

Stay Alert

Iowa State Bank encourages customers to stay alert, update online security habits and report suspicious activity right away. If you suspect fraud, contact your personal banker at Iowa State Bank.

This information is provided by Iowa State Bank for educational purposes only in partnership with the Iowa Bankers Association.