FTC reveals alarming increase in scam activity, costing consumers billions

Newly released Federal Trade Commission (FTC) data shows that consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30 percent over the previous year. Losing money to investment and imposter scams Consumers reported losing more money to investment scams – more than $3.8 billion—than any other category in 2022. That amount more than doubles the amount reported lost in 2021. The second-highest reported loss amount came from imposter scams, … More →

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