Colorado residents lost a staggering $24 million to personal data scams in 2024, quadrupling the $6 million reported in 2023 and setting a record high since the FBI began tracking such crimes in 2016.
The warning comes from CNC Intelligence, a digital forensics firm that released a detailed analysis of the state’s rising cyber fraud crisis. CEO Matthew Stern emphasized that no demographic is immune, with victims ranging from professionals and retirees to small business owners.
“I have seen people from all walks of life become victims — we are all suitable targets for cybercriminals,” Stern told The Center Square. “These scams are engineered by sophisticated criminal syndicates who test and refine their methods like tech companies do with their products.”
The report revealed that 1,187 Coloradans fell victim to these scams in 2023, with the average loss per person skyrocketing to $20,000 in 2024, up from $6,000 the previous year. Scammers commonly use tactics such as fake delivery notifications, retailer impersonations, and emotional manipulation — all amplified by access to personal information online and advances in AI and deepfake technology.
“With personal data so readily available online, combined with stolen data trades and AI tools, scammers can create extremely convincing and personalized schemes,” Stern explained.
On a national scale, the trend is equally alarming. Reported losses from personal data scams reached $1.5 billion in 2024 — more than double the $744 million reported in 2023.
Stern urged consumers to adopt preventive measures: keep software up to date, enable multi-factor authentication, use strong passwords, and remain skeptical of emails, texts, or calls from unknown sources.
He also recommended that families implement a code word for emergency situations to verify identities — a tactic that could prove crucial, especially during the holiday season when scammers are particularly active.
“The holidays are a perfect time to discuss scam prevention strategies with loved ones of all ages,” Stern added.
