cashing in on corona
April 10, 2020

Scammers take no days off — not even during a pandemic.

Consumers have filed over 15,000 complaints claiming nearly $12 million in losses from COVID-19 related scams, according to a Federal Trade Commission report.

More than half of the losses were reported in the first nine days of April, Business Insider reports, indicating a startling shift as the coronavirus crisis continues to spread around the globe. Should the current rate of fraudulent claims continue, Americans could reportedly lose more than $100 million by July.

The FTC's report shows California had the highest amount of claims with over 1,700, followed by Florida with 1,057. Travel and vacation scams were the most commonly reported type, followed by online shopping and text message scams.

As the new coronavirus has spread, complaints of price gouging have increased along with it, forcing retailers to come out against the practice and leading some state governments to take action.

It's anyone's guess when the pandemic will lighten up and the economy will reopen, and given the current state of panic and uncertainty surrounding the crisis, the next several months could be especially fertile ground for fraudsters. Marianne Dodson

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