Americans have lost a total of $487m through covid-19 related fraud incidents

Americans lost a total of $487.9m through fraud over the past 18 months in cases related to Covid-19, according to new data from the Federal Trade Commission.

Its Covid-19 and Simtmus reports data claims there were more than 544,000 reports made to the FTC during the time period. The most reports in a single day was Monday March 29 2021, where 3,079 reports were documented.

The most common report was in regards to fraud, with 326,974 incidents. The remaining reports were composed identity theft (68,262) incidents, do not call scams (16,048) and the remaining 134,973 were classified as ‘other’ reports.

The median fraud loss was $366.

Finally, the data states the most common reports were about online shopping, with 52,624 related reports. The other most common report types were: vacation and travel (42,155), credit bureaus (16,887), diet products, plans and centres (14,489) and credit card (13,903).

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