Scams in 2023 had a greater economic impact than in their previous year, with consumers reporting having lost more than 10 billion dollars, a record figure that represented an increase of 14 percent compared to 2022 reports.
The data recently published by the Federal Trade Commission (FTC) indicate that, in 2023, consumers lost more money to investment scams that reached $4.6 billion, which represented an increase of 21 percent compared to 2022.
This was indicated by experts during an information session held by Ethnic Media Services, who stated that The scam by impostors was presented as the second most evident in 2023, with the second highest amount in losses, for almost 2.7 billion dollars, with bank transfers and the use of cryptocurrencies being the most used as a payment method.
Maria Mayo, acting associate director of the division of consumer response and operations of the Bureau of Consumer Protection of the Federal Trade Commission, commented that this year's reports have increased in terms of losses, thinking that the more reported and work on prevention this year could decrease, something that did not happen.
"The most surprising thing was the amount that was lost, because I thought that last year it was very high at 9 million, but this year it rose to 10 million, it surprises me even though the number of complaints did not change that much during 2023", commented Maria Mayo.
The most relevant categories during 2023 were the following:
Impostors
It refers to a person who pretends to be another person from a company or institution, it is also related to fake romantic partners, sometimes they use family or friends to create complicated situations where they ask for financial help.
Online purchases
The scams most related to online purchases are through fake websites with purchases of fictitious products, or on sites where they can access private information, since they carry out identity theft and clone cards or steal banking information.
Prizes and raffles
These types of scams make you believe that you are the winner of some wonderful prize or some incredible promotion, but before collecting it you must pay taxes or share your bank details. They generally put pressure on the supposed winner by making them believe that it is for a limited time and they must make what is requested immediately.
Investments
In these cases, the most common thing is that a person invites you to invest in cryptocurrencies or digital investments, in such a way that when you enter your money it seems real, but they warn you of the risk of loss, where at some point the money disappears, the promise It is earning a lot with little and in a short period of time.
Business and job opportunities
In this case, you are asked to enter a company with a small investment that by generating sales you could recover and earn much more, generally the promise is to generate a lot with a minimum amount of investment, a rigorous schedule is not requested so it is a good offer for some people who need a free schedule. In the end, it is not generated, but it is invested.
Social Networking
Contact through social networks has increased, as it is something that is used daily, people have become very vulnerable; It should also be considered that the people who use social networks are of different ages, allowing for a broader reach within the community. In some cases, the scams are directed at very specific sectors of the population, such as Latinos, Chinese, Afro-descendants, etc.
The payment method most used in this type of scam is by bank transfer, registering a loss of 1.9 billion dollars, on the other hand, cryptocurrencies have also been used, leaving a loss of 1.4 billion dollars during 2023.
Report and prevent fraud
It is important to fight against fraud, you can educate to prevent and warn, thus reducing the number of money losses; Now, regardless of the language, there are options to make reports in different languages, in this way more complete reports are generated to warn the community.
To help people identify fraud, information is offered in 12 different languages, and to report it, you must enter the site. https://reportefraude.ftc.gov/#/
There are also simple resources, where you can know what to do if you have paid a scammer, there are tips to protect small businesses and useful information for refugees and migrants.
The experts highlighted that the FTC continues to work and look for more options that protect consumers from the different scams that are currently generated, prevention and reporting are the key to obtaining a 2024 with fewer economic losses due to scams.
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