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Covid pandemic fraud cost Americans $ 382 million, according to the Federal Trade Commission.
As of Tuesday, more than 217,000 people have filed a coronavirus-related fraud report with the agency since January 2020, according to federal data. The average loss was $ 330.
However, the losses were greater for the elderly – $ 500 for people in their 70s and $ 900 for people in their 80s.
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Criminals have used various means to steal money from unsuspecting Americans, including crimes around financial relief, such as stimulus checks and unemployment benefits, fake treatments for Covid-19 and fraudulent charities.
“While people are afraid of their health and finances, crooks are having a field day,” Lucy Baker, a consumer protection associate in the US PIRG advocacy group, told CNBC.
The Consumer Financial Protection Bureau received 542,300 pandemic-related complaints in 2020, an increase of 54% over 2019.
Americans began submitting more than 3,000 complaints citing coronavirus keywords almost every month starting in April 2020, according to the Bureau, a federal agency that polices financial irregularities that affect consumers.
“The pandemic is among the most disturbing long-term events that we will see in our lives,” said Dave Uejio, acting director of the CFPB. “It is not surprising that the shock waves it sent across the planet were deeply felt in the consumer financial market.”
Credit complaints and consumer reports represented more than 58% of total complaints, followed by those related to debt collection (15%), credit card (7%), check or savings (6%) and mortgages (5 %). Not all of these complaints were necessarily related to Covid.
Identity theft was also a frequent problem in relation to the unemployment benefits collected during the pandemic.
About 60,000 people have reported identity theft to the FTC since last year. The United States Department of Labor launched on Monday a website for Americans whose personal data was stolen and used to claim fraudulent unemployment benefits.
Americans are also being hit by scams related to the launch of Covid vaccines.
An “early access vaccine” scam has been the most common cyber scam during the pandemic, according to Rublon, an online security company. The con artists send emails, text messages and phone calls claiming to have access to the vaccine before official government sources.
The FTC’s $ 382 million figure is likely to underestimate the scope of the fraud, as it is based on detailed incidents by consumers. Many may not have been reported.
“We all need to be on guard,” said Baker. “Before clicking, pause first.
“Do your research and ask yourself if that website, email, text, direct message or link is legitimate,” he added. “Be careful when handing over your money or personal information.”