FTC Saw 2021 Consumer Fraud Reports Reach $5.8 Billion in Losses

The Federal Trade Commission received fraud reports from more than 2.8 million consumers last year totaling $5.8 billion in value, a 70 percent value increase from 2020, according to the agency’s news release.

Imposter scams were again the most commonly reported category at $2.3 billion of losses, and online shopping scams followed at $392 million, according to the FTC.

Prizes, sweepstakes, and lotteries; internet services; and business and job opportunities also made the top five categories.

Of the 5.7 million total reports to the FTC’s Consumer Sentinel Network, nearly 1.4 million were identity theft, according to the FTC. Complaints about ...