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Fraud is not getting more frequent, the FTC says, but it is getting more expensive.
Cryptocurrency scams came in second with $1.4 billion drained.
The median loss was north of $9,000.
Total losses from investment scams hit $5.7 billion, a $1 billion increase from last year.
Total losses through these platforms reached $1.9 billion, it was said.
One particular scam format - fake jobs - skyrocketed over the last half a decade.
Interestingly enough, the older generation is no longer the one losing most money.
Those aged 20-29 reported losing money more often than any other age group.
However, the elderly (70+) suffered far worse financial damage than any other demographic.
