Consumer losses nearly double in 2023, prompting federal agencies to raise awareness and combat deceptive tactics
The Federal Trade Commission (FTC) recently released data showing an increase in government impersonation scams that target consumers for cash payments. Reports indicate that losses from these scams nearly doubled, from $40 million in 2022 to $76 million in 2023, a 90 percent increase. In the first quarter of 2024 alone, consumers have reported losing $20 million to these schemes.
“The impact of government impersonation scams is massive across the board, costing consumers millions,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “For consumers who are convinced by scammers to pay cash, the harms are amplified even further. We’re glad to join with other agencies across the federal government to raise awareness of this issue and work to put a stop to it.”
Scammers often impersonate government agencies and create a sense of urgency, pressuring victims to send cash via mail or hand it to couriers. To address this growing trend, the FTC has partnered with several federal agencies to raise awareness and educate consumers on how to protect themselves. The agencies reiterated that legitimate government agencies will never solicit payments or personal information through unsolicited calls, emails, or messages.
As the Lord Leads, Pray with Us…
- For Director Levine to be led by the Lord as he heads the FTC’s Bureau of Consumer Protection.
- For Chair Lina Khan and members of the FTC as they seek to expose and shut down scams that defraud the American public.
Sources: Federal Trade Commission
