US Consumers Lost Over $5.8 Billion to Fraud Last Year: Federal Trade Commission

Federal Trade Commission seal at a news conference at FTC headquarters in Washington on July 24, 2019. Yuri Gripas/Reuters

U.S. Consumers lost more than $5.8 billion to fraud in 2021, an increase of more than 70 percent from 2020, the Federal Trade Commission (FTC) stated on Feb. 22.

More than 2.8 million consumers filed fraud reports with the FTC in 2021, an increase of $2.4 billion from 2020, with the most commonly reported complaint involving imposter scams, followed by online shopping scams.