FTC: COVID-19 fraud complaints surge, worth in excess of $8M
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WASHINGTON, D.C. –
The Federal Trade Commission reported that just like cases of individuals being diagnosed as positive for the coronavirus is rising significantly, the regulator is noticing steady climbs in COVID-19-connected consumer complaints, too.
As of Sunday, the FTC reported 11,762 complaints, resulting in $8.39 million worth of fraud being committed since the beginning of the year.
The category leading the way in complaints was not auto finance, nor another segment of financial services. Rather, officials categorized travel and vacation fraud being the leader with 1,984 complaints with the average amount of fraud connected to each one coming in at $3,114.
In the financial-services arena, the FTC’s data showed the most complaints were connected with mortgages (395) and credit cards (390).
