WASHINGTON–Americans have lost more than $145 million to fraud related to the coronavirus, according to a new estimate from the Federal Trade Commission, which reported it has fielded more than 200,000 complaints from consumers.
According to the FTC, schemes related to the coronavirus peaked in the Spring and were focused on federal stimulus payments and other forms of financial relief, personal protective equipment, and unemployment and other government benefits.
The data was compiled by the FTC’s Consumer Sentinel Network, which provides law enforcement agencies and the public with information about rampant forms of fraud. The network’s tracker of coronavirus-related cases includes nearly 206,000 reports of coronavirus-related fraud that were submitted to the FTC from Jan. 1 through Sept. 22.
The FTC reported the median loss was $300. The losses could be higher for older Americans, who are often the target of this kind of fraud, Lucy Baker, a consumer defense associate at the United States Public Interest Research Group, told the New York Times.
Numerous Warnings
“In the months since the pandemic began, government agencies have warned consumers about fraud in which victims are asked for personal data, such as their name, date of birth, Social Security number or Medicare and health insurance information,” the Times noted. “This information can be used to commit identity theft or medical insurance fraud.”
As CUToday.info has reported, in March the FTC joined with the Food and Drug Administration in issuing warnings related to the virus, telling seven companies to stop selling products that claimed to cure or prevent COVID-19. The FBI has issued similar warnings.
The number of reports of fraud has declined since the spring, according to the FTC data.