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Top 10 Frauds of 2018

Every year, millions of Americans fall victim to financial fraud and scams. In 2018, over 1.4 million fraud reports were submitted to the Federal Trade Commission (FTC) with claims of financial losses over $1.48 billion (yes, billion with a “b”). Although the median financial loss was $375, this is only based on reports that were submitted to the FTC. These numbers could be significantly higher if unreported fraud incidents are included.

The Top 10 Fraud reported to the FTC in 2018 are:

  1. Impostor scams
  2. Debt collection
  3. Identity theft
  4. Telephone and mobile Services
  5. Shop-at-home and catalog sales
  6. Banks and lenders
  7. Credit bureaus, Information furnishers and report users
  8. Prizes, sweepstakes and lotteries
  9. Auto related
  10. Internet Services

Get more information and play around with the numbers, comparing years and states yourself: https://www.consumer.ftc.gov/blog/2019/02/top-frauds-2018

The DBO provides consumers with helpful tips on how to avoid common scams and fraud.  Visit: http://www.dbo.ca.gov/Consumers/SAIF/Pubs/Protect_Yourself_From_Fraud(2014)English.pdf

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