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Scammers have bilked consumers out of $545 million in Covid-related fraud

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Visoot Uthairam | Moment | Getty Images

Scammers have bilked Americans out of $545 million in Covid-related fraud since the beginning of 2020 in a range of schemes from online shopping to travel, according to the FTC.

The agency received almost 589,000 consumer complaints associated with the pandemic from Jan. 1, 2020 to Aug. 30, 2021. Roughly 61% of the reports concerned fraud; the median loss was $380.

“Scammers always take advantage of disasters, manmade or natural,” Susan Grant, director of consumer protection and privacy at the Consumer Federation of America, an advocacy group, said last month.

Consumer complaints

Price-gouging was the most commonly reported pandemic-related issue in…



Source cnbc.com

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