Question of the Day: According to the Federal Trade Commission, what was the top fraud of 2021?
Answer: Imposter Scams
- Why do you think imposter scams have grown so rapidly in recent years?
- What are warning signs that something could be a scam?
- What are ways that you can verify that someone is who they say they are?
Behind the numbers (Consumer Sentinel Network):
"In 2021, the Consumer Sentinel Network took in over 5.7 million reports, an increase from 2020.
- Fraud: 2.8 million (49% of all reports)
- Identity theft: 1.4 million (25%)
- Other: 1.5 million (27%)
In 2021, people filed more reports about Identity Theft (25.0% of all reports), in all its various forms, than any other type of complaint. Imposter Scams, a subset of Fraud reports, followed with 984,756 reports from consumers in 2021 (17.2% of all reports). Credit Bureaus, Information Furnishers, and Report Users (10.3% of all reports) rounded out the top three reports to Sentinel."
Learn more about this topic by completing the NGPF On-Demand: Novice Investor Pitfalls
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