Here is the article rewritten in Markdown format with proper headings, subheadings, and bullet points:
Most Common Types of Financial Fraud in United States Revealed: Imposter Scams Top the List
According to newly released data from the Federal Trade Commission (FTC), imposter scams remained the most common type of financial fraud reported by consumers in 2020.
Key Statistics
- Over 2.1 million fraud reports were filed with the FTC in 2020.
- Consumers lost a staggering $3.3 billion to fraud, up from $1.8 billion in 2019.
- Imposter scams alone resulted in over $1.2 billion in losses.
Top Five Most Common Types of Financial Fraud
- Imposter Scams: With over $1.2 billion in losses
- Online Shopping: Resulted in around $246 million in losses
- Internet Services; Prizes, Sweepstakes, and Lotteries; and Telephone and Mobile Services
Identity Theft Reports Surge
- Nearly 1.4 million identity theft reports were filed through the FTC’s IdentityTheft.gov website, more than double the number from the previous year.
- The majority of these reports involved individuals whose information was misused to apply for government documents or benefits such as unemployment insurance.
New Platform for Filing Fraud Reports
- The FTC has introduced ReportFraud.ftc.gov, an updated platform for filing fraud reports with the agency.
- The data collected through this platform is used by law enforcement agencies and shared with over 2,800 users around the country.
Ongoing Efforts to Combat Financial Fraud
- While the FTC does not intervene in individual complaints, these reports are a vital part of its law enforcement mission.
- A full breakdown of the reports received in 2020 can be found on the FTC’s data analysis site at ftc.gov/exploredata.
- Consumers are urged to remain vigilant and report any suspicious activity to the FTC.
Stay informed about the latest trends and updates on financial fraud by following the FTC’s official website and social media channels.