Consumer Losses Top $500 Million Due To Covid-Related Fraud

Consumer losses due to Covid-related fraud top $500 million, according to data from the Federal Trade Commission. From a report: The agency has received more than 558,000 complaints from consumers related to the pandemic since the start of 2020. About 60% of the complaints were associated with fraud, citing an aggregate loss of $501 million through July 22. The typical person lost about $370, according to the agency. 'Scammers always take advantage of disasters, manmade or natural,' said Susan Grant, director of consumer protection and privacy at the Consumer Federation of America, an advocacy group. Criminals have used multiple avenues to steal money from unsuspecting Americans, including fraud related to online shopping, travel and government stimulus funds during the pandemic, according to federal data.

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