Financial Literacy Month Tip of the Week – Imposter Scams on the Rise!
Wednesday April 17, 2024Imposter scams are a growing threat to consumers nationwide, and Idahoans are being targeted at an alarming rate, along with consumers throughout the country. Imposter scams can be defined as a bad character who lies and tricks you into sending them money and often pretends to be from the IRS, social security, a business, a charity, a grandchild, or the government, and wears many other disguises. This week, the Idaho Department of Finance will be focusing on imposter scams and how consumers can protect themselves from these deceptive tactics.
In recent years, imposter scams have increased as online actors become more sophisticated and creative in their deceptive ways. According to the FTC, Imposter Scams were the number one type of fraud in 2023, with 853,935 reports totaling $2,668 Million in total losses across the country. The same report shows Idaho ranked 38th out of 50 states with imposter scams sitting at number one in top reports fraud at 20% with $40.6 million in fraud losses. 14,424 Idahoans reported fraud and other reports in 2023.