In the old TV show Dragnet, Sergeant Joe Friday was famous for saying “Just the facts, ma’am.” But like “Play it again, Sam” in Casablanca, that quotable quote was never actually said by the lead character. But when we tell you that the FTC’s just-released 2021 Consumer Sentinel Data Book gives you “just the facts,” be assured that’s what you’ll get. And one of those facts – the most commonly reported forms of fraud in 2021 – should be of particular interest to businesses.
What’s the source of the Data Book’s data? It’s the Consumer Sentinel Network – a database that receives reports directly from consumers, as well as from federal, state, and local law enforcement agencies, Better Business Bureaus, industry members, and non-profit groups. The FTC shares those reports with approximately 2800 federal, state, local, and international law enforcers, who in turn use that information to identify trends, craft policy, and build cases.
The 2021 Data Book is jam-packed with stats, but here are a few of the most noteworthy:
- Millions of Americans filed fraud reports last year. In 2021, people filed a total of 5.7 million reports. In addition to identity theft reports and complaints about businesses, 2.8 million of those reports were about fraud.
- Reported dollar losses took a sharp uptick. Consumers reported losing more than $5.8 billion to fraud in 2021, an increase in reported losses of more than 70% over 2020.
- Imposter scams still…
