This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
09/08/2020
Study: Michigan consumers lose $2.94M to COVID-19 scams
Grand Rapids Business Journal
The year isn’t even over yet, and Michigan consumers lost nearly $3 million to COVID-19 fraud, a new study found.
The study by The Ascent, a Motley Fool service, found that Michigan had the 10th highest number of reported fraud instances among all 50 states, totaling $2.94 million in lost funds directly related to COVID-19 and/or stimulus check scams.
COVID-19 fraud includes any type of scam, fraud or identity theft related to the novel coronavirus.
As of Aug. 31, Americans reported over 184,000 cases of COVID-19 fraud and losses of over $124 million, the study found. Although reports of fraud have tapered off since May, The Ascent said another spike is likely with a new stimulus package on the horizon.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information