Americans Lost $1.19 Billion to Imposter Scams in 2020

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Atlas VPN analysis reveals that Americans lost $1.19 billion to imposter fraud in 2020, which is $613.8 million more than the previous year, representing a 106.56% increase.

The report shows that:

  • Americans lost $1.19 billion to imposter fraud in 2020.
  • Citizens submitted 498,278 imposter scam complaints, out of which 22% reported a financial loss.
  • In 2019, consumers lost $576 million to impersonators from 645,874 individual complaints.
  • Looking back at 2018, US consumers submitted 549,922 pretender scam complaints. Over 18% of victims indicated a financial loss, which amounted to $491.6 million in damages.
  • Throughout the last five years, US residents suffered a staggering $2.34 billion in damages from imposter scams.

To see the full report, please click here.

The first part of the report analyzes damages caused by imposter scams from 2016 Q1 to 2020 Q4.

The second part of the article provides steps on how consumers can protect themselves against these schemes.