Americans were catfished out of $547 million in 2021
Americans reported losing $547 million to romance scammers throughout 2021, according to apublished by the Federal Trade Commission on Thursday. That's up from $307 million the year prior.
Reported losses increased with age, the FTC added. While the 18 to 29 age group's median loss was $750, people 70 years old and older reported a median loss of $9,000. Victims can also act as"money mules" by inadvertently laundering dirty money, according to the report. Scammers often claim they need help moving funds or transferring an inheritance.
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