The Federal Trade Commission (FTC) received more than 4.7 million consumer reports of illegal activity or unfair business practices in 2020, a 45% increase over the 3.2 million reports in 2019. It’s unclear why there was such a large increase, but it may be related in part to social isolation and economic stress during the pandemic. In October 2020, the FTC launched a new website for consumers to report fraud and other consumer issues that enables more efficient sharing with law-enforcement authorities: ReportFraud.ftc.gov.
$311 – Median loss among consumers who reported losing money to fraud in 2020. About one out of three people who reported fraud indicated that they lost money.
Source: Federal Trade Commission, 2021
Source: Federal Trade Commission, 2021
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