Looking for legal documents or records? Federal government websites often end in .gov or .mil.
The Federal Trade Commission works to promote competition and protect and educate consumers. While the FTC does not intervene in individual complaints, Sentinel reports are a vital part of the agency’s law enforcement mission. The Commission monitors these trends carefully and takes a comprehensive approach to detect, halt, and deter consumer fraud. “The FTC is monitoring those trends closely and working hard to protect the American people from fraud.” “The data we’re releasing today shows that scammers’ tactics are constantly evolving,” said Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. The .gov means it’s official.
- The settlement administrator continues to review and issue benefits for identity theft and fraud claims related to the breach.
- Thanks for watching – and thanks for reporting fraud.
- Did you send the scammer payment of any kind?
- How much money did you pay the scammer in total – I’m going to say 99 dollars.
- In 2024, there were more than 1.1 million reports of identity theft received through the FTC’s IdentityTheft.gov website.
Reports show that when people think they are fixing a problem rather than sending a stranger money, their losses are often limited only by their available funds. Some people 60+ have reported emptying their bank accounts and even clearing out their 401ks. These scammers pretend to be from known and trusted government agencies and businesses. In 2024, there were more than 1.1 million reports of identity theft received through the FTC’s IdentityTheft.gov website. Phone calls were the second most commonly reported contact method for fraud in 2024, followed by text messages.
Lots of scams are now carried out online, but these scams still depend on a phone call. They may say this will keep your money safe, secure your identity, clear your name, or help catch the criminals. These scammers say the only way out of the (fake) crisis is to follow their instructions – which will include sending money to the scammers. Reports to the FTC show a growing wave of scams aimed squarely at retirees’ life savings. Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.
Consumer Information
Thanks for watching – and thanks for reporting fraud. That’s how easy it is to report fraud. How much money did you pay the scammer in total – I’m going to say 99 dollars. Today I’m going to report an impersonator scam.
Banned Debt Collectors
You’ll get your report number and also tips on what to do next. When did you most recently pay or send money? How did you pay or send the money? Did you send the scammer payment of any kind? In my case it was a tech support scam.
How much will my payment be?
In 2024, losses to business imposter and government imposter scams of $10,000 and over were more than twice as likely to be reported by older adults, with losses over $100,000 three times as likely to be reported by older adults. Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices at ReportFraud.ftc.gov. In 2024, consumers reported losing more money to scams where they paid with bank transfers or cryptocurrency than all other payment methods combined.
Most reports that identified cryptocurrency as the payment method mentioned Bitcoin ATMs in the report narrative. Being tricked by a scammer into sending money or providing access to a financial account was the second highest concern. The results showed people most often worried about being a victim of identity theft. So how can you stay vigilant and steer clear of these scams? In another layer of irony, these scammers often pretend to be the FTC, the nation’s consumer protection agency, sometimes impersonating real staff. Even when they don’t start with a call, reports show the goal is to get you on the phone.
False alarm, real scam: how scammers are stealing older adults’ life savings
- Some people 60+ have reported emptying their bank accounts and even clearing out their 401ks.
- Instead, the percentage of people who reported losing money to a fraud or scam increased by double digits.
- Phone calls were the second most commonly reported contact method for fraud in 2024, followed by text messages.
- Before sharing sensitive information, make sure you’re on a federal government site.
- Lots of scams are now carried out online, but these scams still depend on a phone call.
The FTC will never ask you to pay to get a refund. You don’t need to contact the FTC to receive a refund. Please accept your refund within 15 days. You can get your refund by PayPal or Venmo. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can find answers to common questions about FTC refund payments on our FAQ page.
For Consumers
The security of your accounts, along with the risk of identity theft, are real concerns that real companies might call you about. Scammers also pretend to be other businesses and agencies, including banks, Microsoft, and the Social Security Administration. A call is still the best way to dial up the fear and the urgency so it’s harder for you to think clearly and check things out. There may be layers of complexity to the story, but it’s all a lie aimed at draining your accounts. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize.
Teva Removes Over 200 Improper Patent Listings Under Pressure from FTC
To spot and avoid scams – and learn how to recover money if you paid a scammer – visit ftc.gov/scams. From 2020 to 2024, the number of reports from older adults who lost $10,000 or more to these scams increased more than fourfold. And, in an ironic twist, recent scams use fake security alerts and other false alarms to prey on older adults’ vigilance about protecting their money and identity to steal from them.
Online shopping issues were the second most commonly reported in the fraud category. Losses to government imposter scams in particular increased $171 million from 2023 to a total of $789 million in 2024. And now it’s a lot easier to report fraud at ReportFraud.ftc.gov. Before sharing sensitive information, make sure you’re on a federal government site.
In 2023, 27% of people who reported a fraud said they lost money, while in 2024, that figure jumped to 38%. But first, let me tell you why it’s so important to report frauds and scams. The Accelerated Debt defendants, acting as a common enterprise, operated a debt relief scam that took in an estimated $100 million, primarily targeting older consumers, some of whom are veterans, according to the complaint. The companies and people listed below are banned, by federal court orders, from participating in the business of debt collection. All U.S. consumers can now get 7 free Equifax credit reports per year through 2026 by visiting Note that when losses exceeded $100,000, bank transfer was the most frequently reported method at 32% of reports.
More Information About the Settlement
” That’s to narrow down what your report is about. The site will ask you a few questions, like, “Is your report about any of these common problems? And don’t give personal information to anyone who contacts you promising a refund. Don’t pay etoro anyone who promises you a refund in exchange for a fee.
the Legal Library
This was followed by business and job opportunities, where reported losses totaled $750.6 million—up nearly $250 million from 2023. The most commonly reported scam category was imposter scams. The second highest reported loss amount came from imposter scams, with $2.95 billion reported lost.
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