The numbers are in. The Federal Trade Commission released its annual compendium of fraud reports from last year, and the news is shocking. Over the past three years, reported losses to consumer fraud has tripled, coming in at a reported $5.9 billion in 2021.
Nearly six million US consumers reported a scam last year and the median loss was $500. But the FTC can only tell us about fraud that was reported – we know the losses and number of victims is far higher.
Many factors contribute to under-reporting, including the abundant shame victims feel. This has to change, and it starts with how we talk about fraud victims. Let’s all commit to help change the current narrative that suggests it’s the victim’s fault – she was duped, he was swindled, they fell for it. Focus instead on the crime and the criminal. Let’s ease the emotional burden while making it clear that fraud is a crime and we need our lawmakers and criminal justice system to do more to combat the multi-billion-dollar fraud industry.
Watch Out for IRS and Government Imposter Scams
With every tax season, the old IRS scam reappears. One way this scam works is that the caller says they are a department official who is calling to convince you that you owe back taxes and face immediate arrest if you don’t pay right away.
Know that anytime a taxpayer faces a tax problem, the real IRS will reach out via mail, and will not call unless they don’t hear back after…
