FTC: Iowans lost more than $17M to fraud in 2020
The Federal Trade Commission received more than 12,000 fraud reports from consumers in Iowa in 2020, according to newly released data. Iowa consumers reported losing a total of $17,145,701 to fraud, with a median loss of $250. The FTC’s Consumer Sentinel Network is a database that receives reports directly from consumers, as well as from federal, state and local law enforcement agencies, the Better Business Bureau, industry members, and nonprofit organizations. Nationally, consumers reported losing more than $3.3 billion to fraud in 2020, up from $1.8 billion in 2019. Nearly $1.2 billion of losses reported last year were due to imposter scams, while online shopping accounted for about $246 million in reported losses from consumers. A full breakdown of reports received in 2020 is now available on the FTC’s data analysis site.