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.