Texans handed over a staggering $635,887,222 to investment fraud in 2024, making it the single most expensive category of internet crime in the state last year. All told, Texans reported roughly $1.35 billion in online crime losses, a gut punch that has left families, retirees, and would-be investors nursing serious financial wounds.
Official data and local coverage
Local numbers back up the federal data. The Midland Reporter‑Telegram reported that investment fraud alone accounted for about $636 million of Texans' internet crime losses in 2024, describing it as part of a broader surge in high-dollar online scams across the state.
What the FBI's national report shows
According to the FBI, the Internet Crime Complaint Center (IC3) logged more than 859,000 complaints nationwide in 2024 and listed investment fraud among the most financially damaging types of internet crime. The FBI's Dallas field office went a step further, posting a Texas-specific breakdown on Facebook that pegs the state's investment fraud total at precisely $635,887,222 for 2024. That figure appears in a detailed post from FBI Dallas.
How scammers are getting the money
Law enforcement and fraud watchers say the mechanics are depressingly familiar: crypto-focused cons, slick but fake trading dashboards, and long-game relationship schemes commonly known as "pig butchering." Investopedia notes that these scams usually kick off on social media or messaging apps, then pressure victims to move money through wire transfers or cryptocurrency platforms that are either fraudulent or tightly controlled by the scammers.
Seniors and middle-aged Texans were hit hardest
A breakdown from the FBI El Paso shows that Texans 60 and older took the biggest financial hit, losing nearly $490 million to internet crime in 2024. People ages 40-49 filed the highest number of complaints and reported about $155 million in losses. "Cyber crime remains a serious and growing threat to Texans, with victims losing millions of dollars annually," Special Agent John Morales said in the field office release.
Where to report and how to protect yourself
If you or someone in your family has lost money, report it to the Internet Crime Complaint Center at IC3, contact your bank immediately, and notify local police. For problems tied specifically to investments, the Texas State Securities Board and the Texas Attorney General offer complaint portals and investor education on recognizing scams.
The sheer size of the losses is a reminder of how quickly scammers tweak their playbook and why every report counts. Filing a complaint can help investigators spot patterns and, in some cases, claw back stolen funds. Talk with seniors and other vulnerable relatives about investment red flags, and verify any unsolicited opportunity with state and federal regulators before sending a single dollar.
