FTC: Americans lost $40 million in COVID-19 scams this year
According to the Federal Trade Commission (FTC), Americans have lot more than $40 million in COVID-19 scams between January 1 and May 25 this year.
The FTC posts weekly data on consumer coronavirus complaints. According to data released May 25, Americans had lost $40.13 million in coronavirus-related scams. The top product or service was related to travel/vacations, while the second type of "do not call' reports was related to a scammer pretending to be a family member, a business or the government.
Tennessee has reported 713 COVID-19 scams during that time period.
According to the report, people aged 30 to 39 had reported the most complaints, but people aged 80 and over had a higher average median loss.
See the full report