how scams work
How Often Do Scams Take Place?
Consumer scams have been an issue throughout history, but as information has become easier to acquire and financial products have become ever more sophisticated, this problem has escalated. Approximately how many consumer fraud cases take place each year in the United States?
- Nobody knows for sure
- 330,000 cases
- 2 million cases
“A” is correct. There’s no way to tell exactly how many scams take place in the U.S. each year. However, a recent FTC study reported that 13.3% of the U. S. population (30 million) had fallen victim to a fraud scheme in the past 12 months. This figure is considered low, given many victims fail to report their losses.