April 1, 2024 at 12:45PM
Impersonation scams in the U.S. saw $1.1 billion in losses last year, a three-fold increase from 2020, says the FTC. Of 490,000 reported scams in 2023, 330,000 were business impersonations. Scams are mostly conducted through phone, email, and text, with blurred lines between business and government impersonation. The FTC highlights the top five scams and offers protection tips. New impersonation rules are set to strengthen the FTC’s pursuit of scammers. [50 words]
Based on the meeting notes, here are the key takeaways:
1. Impersonation scams in the U.S. exceeded $1.1 billion in losses last year, a threefold increase from 2020, according to data from the Federal Trade Commission (FTC).
2. The FTC reported 490,000 scams in 2023, with 330,000 related to business impersonation complaints and the remainder involving government impersonation incidents.
3. Phone call scams are declining, while email and text message scams are on the rise for the third consecutive year.
4. The FTC highlighted the top five scam types, including copycat account security alerts, phony subscription renewals, fake giveaways or discounts, made-up package delivery problems, and bogus problems with the law.
5. The FTC provided consumer protection tips, advising against clicking on unsolicited URLs, distrusting money transfer requests, and taking the time to verify suspicious communications.
6. New impersonation rules announced by the FTC aim to give the agency enhanced capabilities to pursue scammers in federal courts for civil penalties and restitution, including seeking monetary relief from scammers using forged government seals and business logos, spoofed email addresses, and false affiliations.
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