Consumers in the United States lost more than $5.8 billion to fraud last year, an increase of more than 70 percent over the previous year, the Federal Trade Commission (FTC) said Tuesday. More than 2.8 million consumers filed fraud reports with the FTC in 2021, an increase of $2.4 billion over 2020, with the most commonly reported complaint regarding imposter scams, followed by online shopping scams. Of the losses reported by consumers last year, more than $2.3 billion were due to imposter scams, such as romance scams and people falsely claiming to be the government or a relative in distress, of which $1.2 billion were reported in 2020. Online shopping accounted for roughly $392 million in reported losses from consumers. A year prior, online shopping accounted for $246 million in losses. Of the nearly 2.8 million fraud reports, around 25 percent indicated a financial loss, with the median loss of $500, according to the FTC. The FTC’s Consumer Sentinel Network …
US Consumers Lost Over $5.8 Billion to Fraud Last Year: Federal Trade Commission
February 23, 2022
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