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That means that the $12.5 billion that was reported to the FBI in 2023 due to romance scams, tech support scams, investment scams, imposter scams, and the like is actually way higher—more than ...
It's one that bears repeating: In 2021 alone, according to the FTC, the median individual reported loss due to romance scams was around $2,400, with a total reported loss of $547 million from ...
In 2021, the agency received more than 568,000 reports of Social Security-related scam attempts totaling more than $63.6 million in losses to victims.” And in 2022? The loss is estimated at $8.6 ...
For example, the AARP found that lottery fraud victims were more likely to be women over 70 living alone, with lower education, lower income, and less financial literacy, while victims of investment fraud were more likely to be men between the ages of 55 and 62 who were married, with higher incomes and greater financial literacy. [6]
Gender and age demographics of victims of online romance scams in 2011. Many victims are in their 40s to mid-60s, seeking a companion. [4] Elderly people are often targeted, because they are more likely to have assets, such as retirement funds or homes, that can be stolen. [5]
Telemarketing fraud often involves some sort of victim compliance whether it involves the victim initiating contact with the perpetrator or voluntarily providing their private information to the offender; thus, fraud victims may experience feelings of shame and embarrassment that may prevent them from reporting their victimization. [2]
Scammers are using AI-powered voice-cloning tools to prey on people. But experts say there's a simple way to protect you and your family.
The Telemarketing and Consumer Fraud and Abuse Prevention Act (Pub. L. 103–297) is a federal law in the United States aimed at protecting consumers from telemarketing deception and abuse. The act is enforced by the Federal Trade Commission .
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