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Americans Report over $1B Lost to Impersonation Fraud

Impersonation scams in the U.S. reached $1.1 billion in losses in 2023, tripling since 2020. The report from the Federal Trade Commission (FTC) came from 490,000 complaints. The majority were business impersonations, via phone calls. Still, we are seeing email and text message frauds rising. The FTC notes an overlap in business and government impersonation tactics, with scammers often posing as multiple entities.

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