📅 2026 Update: Recent Trends in Counterfeiting and Fraud

Since the original article was published, significant changes in fraud trends have emerged. The rise in reported losses from various scams shows an alarming increase, particularly in imposter scams and those involving cryptocurrency. This updated section will highlight the most relevant changes in fraud and counterfeiting since the article was written, with more information continuing further down the page.

📈 Overall Fraud Losses

In 2025, reported fraud losses reached $16 billion, marking a 25% increase from 2024. This spike reflects the growing complexity of fraud schemes and the need for increased awareness among consumers. The rise in losses underscores the importance of understanding fraud types, including money counterfeiting.

💰 Imposter Scams

Imposter scams have drastically increased, causing consumers to lose $3.5 billion in 2025. This amount is nearly three times the losses reported in 2020. These scams often involve criminals posing as trusted figures, such as government officials or company representatives, to trick victims into providing personal information or money.

📉 Older Adults' Losses

Between 2020 and 2024, fraud losses reported by individuals aged 60 and over increased fourfold. This group reported losses rising from about $600 million to $2.4 billion. Older adults are often targeted due to their perceived vulnerability, making it crucial to educate this demographic about fraud prevention.

📊 Cryptocurrency and AI Scams

In 2025, scams related to cryptocurrency and artificial intelligence defrauded Americans of nearly $21 billion. Complaints involving cryptocurrency alone totaled over $11 billion. As technology evolves, so do the methods scammers use, making it essential for consumers to stay informed about potential risks.

📌 Key Points Summary

  • Overall fraud losses reached $16 billion in 2025.
  • Imposter scams caused consumers to lose $3.5 billion.
  • Older adults saw a fourfold increase in fraud losses.
  • Cryptocurrency and AI scams defrauded Americans of nearly $21 billion.

💡 Tips for Recognizing and Reporting Fraud

Review your situation with an attorney to ensure you have the right understanding of your legal options.

🔍 Be Aware of Scams

Stay informed about different types of fraud, including imposter scams and online shopping scams. The FTC provides updates and resources to help consumers recognize and report these scams.

📞 Report Fraud Quickly

If you suspect fraud, report it immediately. Consumers can report incidents to the FTC via ReportFraud.ftc.gov or to the FBI's IC3 at ic3.gov. Timely reporting can help prevent further losses.

👥 Protect Older Adults

Educate older adults about common scams targeting their demographic. Awareness can help them recognize suspicious calls or messages, reducing their risk of falling victim to fraud.

💻 Verify Before Trusting

Always verify the identity of anyone asking for personal information. Scammers often impersonate legitimate organizations. Use official channels to confirm their legitimacy.

📅 Understand the Reporting Timeline

There is no specified deadline for reporting fraud to the FTC. However, for filing a False Claims Act suit, the statute of limitations is generally six years from the date of the alleged fraud.

🏆 Services Ranked by User Reviews (2026)

This section covers services that assist with fraud prevention and reporting. The rankings are based on Trustpilot data from October 2026. Scores can change, and it's essential to consider that unhappy customers often leave more reviews.

The following rankings reflect the current landscape of services related to fraud.

🥇 1. Scam Detector

Scam Detector has been rated 3.0 on Trustpilot. This service is known for providing fraud prevention resources and analyzing various scams. However, some users have questioned the accuracy of its scam assessments, which is a vital consideration for those seeking reliable information.

❓ Frequently Asked Questions

❓ What are imposter scams?

Imposter scams involve criminals pretending to be trusted individuals or organizations to deceive victims. These scams can include phone calls, emails, or messages requesting money or personal information.

🚨 How can I report fraud?

Consumers can report fraud to the FTC via ReportFraud.ftc.gov or to the FBI's IC3 at ic3.gov. Reporting helps authorities track and combat fraud.

💵 What penalties can fraudsters face?

Penalties for fraud can vary widely depending on the crime's type and severity. Consequences may include fines and imprisonment, depending on the circumstances.

👵 Why are older adults targeted by scammers?

Older adults are often seen as more vulnerable, making them prime targets for scammers. Their potential lack of familiarity with technology can make them easier to deceive.

🛡️ What resources are available for fraud prevention?

Organizations like the FTC offer free resources and guidance on reporting and preventing fraud, helping consumers stay informed and protected.

⏳ Is there a deadline for reporting fraud?

There is no specified deadline for reporting fraud to the FTC. However, timely reporting is encouraged to minimize potential losses.

⚖️ Recent Cases Related to Fraud

Several recent court rulings have addressed various types of fraud, including counterfeiting and related scams. Cases often involve significant penalties under laws like the False Claims Act for those submitting false claims.

For more recent rulings, feel free to browse more rulings on the news page.

End of October 2026 Update





Most counterfeit money is crafted by individuals who will never become well known to the public at large.  There are some counterfeiters, though, whose production of counterfeit bills is so prodigious and extensive that their names will be remembered in the lexicon of great charlatans for generations to come.  An examination of a few famous cases involving counterfeit money can shine some light on the deeds of these notorious scam artists.

This first case takes us back to the time of the American colonies in the early 1700s.  Mary Butterworth was a Massachusetts resident born in 1710, and purportedly initiated the foundation of her counterfeit bill campaign at the tender young age of six.  Butterworth did not have any home computers or scanners available to aid in her production of counterfeit money as do today's creators of counterfeit currency.

She used cotton cloth in her formulation of counterfeit bills, which was quite advantageous for her security as the cotton cloths could simply be torched when no longer useful.  This would help eliminate some of the material evidence of her involvement in unlawful activity.  Butterworth manipulated these cotton cloths to produce counterfeit money by placing an iron on top of the cloth and a faceless piece of currency.  She would then draw the necessary patterns of the bill with a quill pen. 

All You Need to Know About Counterfeiting Money Famous Cases

Butterworth was eventually arrested and brought to trial in 1723 in the state of Rhode Island after authorities in that state centered their investigation of a counterfeiting operation on her.  She became the prime suspect in this case only after she and husband bought an uncharacteristically pricey house in the area.

During her trial, a colonial citizen produced two counterfeit bills that he had allegedly received from Butterworth, and her own brother and sister-in-law testified on behalf of the state.  Still, Butterworth was acquitted because the court found that not enough concrete evidence was presented to convict.


During the American Civil War, Samuel C. Upham created counterfeit money that closely resembled the currency of the Confederacy.  His work was so meticulous and authentic looking that citizens of the Confederacy would actually use his counterfeit bills as currency, thus injuring their own fledgling economy.

Although Upham initially made these bills as a mere novelty, he began to produce them on a larger scale as he saw demand for them increase.  He would attempt to acquire as much Confederate currency as possible in order to produce a vast array of counterfeit money for consumption in the seceded states. 

Two years after the inauguration of his business, Upham was in trouble with Union authorities who felt that Upham was creating not only counterfeit bills of the Confederacy but also fraudulent Union money also.  Much like Mary Butterworth, Upham escaped any jail time and had his case thrown out of court.  Edwin Stanton, Secretary of War at the time, directly influenced the dismissal of charges. 

Countless other counterfeiters have come and gone since the heydays of Mary Butterworth and Samuel C. Upham.  However, very few have had such a distinct impact on the world of counterfeiting as these two infamous individuals.