The latest report from the Federal Trade Commission (FTC) reveals that American adults lost
a record amount of money to acts of fraud in the year 2023, totaling around $10 billion. These scams include false promises of investments, business decisions, government services, and even romance, in exchange for money. Scams involving impersonation of a legitimate business, such as retail companies or tech support, increased by 18% in 2023, to a total of 474,000 acts of fraud, compared to less than 400,000 in 2022.
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