FTC Cracks Down on Impersonation Scams That Cost You Big

Be on the lookout! This month, the Federal Trade Commission (FTC) rolled out a new rule aimed at stopping scammers who pretend to be from well-known businesses and government agencies. This crackdown comes at a crucial time, as the FTC just released alarming data showing a surge in impersonation scams.



According to the FTC, in 2023 alone, people reported losing over $1.1 billion to these deceptive schemes. That's a staggering number, more than triple what consumers reported just three years ago!

These scams can take many forms. You might receive a phone call claiming to be from your bank about suspicious activity on your account. Or, you could get an email that appears to be from Amazon warning you about a large, unauthorized purchase. The goal is always the same: to trick you into giving up your personal information or money.

The good news is that the FTC's new rule gives them more power to fight back. This means they can take stronger legal action against companies engaging in these impersonation tactics.

But staying safe ultimately starts with you. Here's what you can do to protect yourself:

Be wary of unsolicited calls, texts, and emails.

Never give out personal information or click on suspicious links in these messages.


Verify contact directly

If you're unsure about the legitimacy of a message, contact the company or agency the sender claims to be from through a trusted source, like their official website or phone number you know is correct.


Don't be pressured into acting fast

Scammers often try to create a sense of urgency to cloud your judgment. Take your time and don't feel obligated to respond immediately.


By staying informed and vigilant, you can help yourself avoid falling victim to these impersonation scams. Remember, the FTC is on your side in this fight. If you suspect you've been targeted by a scam, you can report it directly to the FTC at https://reportfraud.ftc.gov/.

Personal Loan (5)

Subscribe to our blog