(WHTM) — Scams cause massive headaches and loss for both individuals and businesses alike. But did you know some states are more affected by financial scams than others?
Financial scams are always changing. Scammers pose as banks, stores, and even the IRS. Criminals are always trying to find new ways to scam people, young and old, every single day.
According to the Federal Trade Commission, Americans lost $8.8 billion to fraud and scams in 2022, which is up more than 30% over the previous year.
Forbes analyzed data from the Federal Trade Commission for the first quarter of 2023. California took the top spot and is considered the ‘Fraud Capital of the US’ with nearly 47,000 scams reported and a total loss of $249 million. It also ranked third with median loss which was at $700 per victim.
Pennsylvania ranks number 10 on the list. Forbes says that during the first quarter of 2023, there were 15,360 incidents reported. The total loss of the state was $38.8 million and each victim lost an average of $500.
Imposter Scams are the most common scam seen in Pennsylvania with 37.% of scams being that type, with online shopping scams taking the second place at 16.%.
Forbes says that Americans between the ages of 60 and 69 are most susceptible to fraud losses. The age bracket lost a total of $234 million during the first quarter of 2023. Americans ages 19 and younger were the least likely to be scammed with reported losses of $10 million.
You can see the full report by clicking here.
Forbes offers some tips to protect you from scams.
- Be suspicious of all incoming calls, emails, and other types of communication
- Always assume any unknown communication is fraudulent. Instead, contact the source of the message using a verified channel. Do not use the phone number, website link, or email provided in the initial communication.
- Do not trust caller ID.
- Scammers can ‘spoof’ real numbers. Don’t assume you are being called by a business or person whose number comes up.
- Don’t be scared into acting
- Scammers love to threaten their victims by giving them money. They can do this by threatening to repossess your house, saying there is a warrant out for your arrest or other ways of scaring you. Simply hang up and call the department or company yourself.