Scams Impersonating Companies and Government Agencies – Dramatic Increase in Losses in the USA

Americans faced over $1.1 billion in losses to impersonation frauds in 2023, warns the FTC report. Scams via texts and emails surged, with 490,000 cases reported. Bank transfer and cryptocurrency losses also rose. Multiple scams and blending business-government fraud pose challenges. Bitdefender's Scamio tool fights cybercrime, as FTC enforces new anti-impersonation rule.

Americans Lost Over a Billion Dollars to Fraud Impersonating Companies and Government Agencies
According to a report by the Federal Trade Commission (FTC), Americans suffered significant financial losses last year due to scams in which criminals impersonated companies or government agencies. The data presented in the report is alarming – losses from fraud amounted to over $1.1 billion, representing more than a threefold increase compared to the previous year.

490,000 Reported Impersonation Frauds in 2023

In 2023, the number of reported impersonation frauds reached an impressive 490,000, accounting for nearly half of all frauds reported directly to the FTC. This is a concerning phenomenon that requires special attention and preventive actions.

Rise in Scams Related to Text Messages and Emails

The FTC report indicates a decrease in the number of scams originating from traditional phone calls, while there is a significant increase in scams related to text messages and emails. Criminals are refining their methods and more efficiently utilizing modern technologies to carry out fraudulent activities.

Increase in Reported Losses from Bank Transfers and Cryptocurrencies

During the analyzed period, there was also a notable increase in reported losses related to bank transfers and cryptocurrencies. Furthermore, the line between business and government scams has started to blur, making it harder to identify and combat crimes.

It is worth noting that many scammers impersonate more than one organization in a single scam, further complicating the process of detecting and prosecuting criminals.

Most Common Fraud Methods

The report identified the five most common fraud methods, including fake account alerts, subscription charges, fake offers, legal-related scams, and fake package delivery issues. This is crucial information that should be taken into consideration when implementing preventive measures.

FTC Warns of the Danger

The Federal Trade Commission warns against risky practices such as clicking on suspicious links, responding to unexpected messages, buying gift cards, using ATMs offering cryptocurrencies, and sending money to unknown individuals. Exercising caution when dealing with unfamiliar individuals online is crucial for safeguarding one’s assets.

Bitdefender Introduces Initiative to Combat Fraud

Bitdefender has launched an innovative tool called Scamio, which is a free program for detecting and preventing scams for Bitdefender account holders. This is a significant step in ensuring cyber security and protecting users from online criminals.

FTC Introduces Rule Regarding Impersonation of Government and Businesses

The Federal Trade Commission has decided to implement a new rule aimed at combating cases of impersonating government institutions and companies. This is a crucial move in the fight against fraud and deterring potential criminals.

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