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Thursday, March 28, 2024

Annual FTC report labels Impostor Scams as top fraud in 2017

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According to Monica Vaca of the Division of Consumer Response and Operations, a whopping $328 million was lost to someone pretending to be a loved one in trouble, a government official, tech support, or someone else who?s not who they say they are, but who wants your money. {{more: continue…}}
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It is called impostor scams.
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In the subcategories of impostor scams, there fewer of debt collection reports but it was still the top category followed by identity theft.

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For everyone who reported identity theft, credit card fraud tops the list, and continues to grow. Reports of tax fraud are down 46%, but it was still reported by nearly 63,000 people.
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For those 20-29, the median loss was $400. The comparable figures were $621 for those 70 to 79 and $1,092 for those 80 and above.
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After impostors, the top categories in order of number of reports were:
  • phone and mobile services (150,000);?
  • prizes, sweepstakes and lotteries (143,000);?
  • shop-at-home and catalog sales (126,000);?
  • internet services (45,000);?
  • foreign money offers and counterfeit checks (32,000);?
  • travel, vacation and time-shares (22,000);?
  • business and job opportunities (19,000);?
  • advance payments for credit (18,000); and,?
  • health care (10,000).
Texas ranked 6th in the nation for reports of fraud (Florida led the nation) and Texas was 11th in identity theft reports (Michigan was #1). Find out more at?FTC Consumer Information
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More about the Federal Trade Commission:??
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The Federal Trade Commission works to promote competition and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357).?
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