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Americans Lost $4.2 Billion to Online Scams in 2020: Study » Scammer News

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Image source: “State of Internet Scams 2021,” Social Catfish


Americans lost a record $4.2 billion in 2020 after falling victim to online scams, almost half the total loss of $7.6 billion over the previous three years, a newly-published report shows.


Released Thursday, identity verification service Social Catfish’s first-ever “State of Internet Scams 2021” study said the dramatic spike could be attributed to increased online activity as more people shopped, worked and learned from home during the COVID-19 pandemic. 


“Scammers create a variety of tricks to scam people out of their hard-earned money. They create fake profiles and go onto social media platforms, dating sites and online gaming apps to start conversations with their victims,” the study said.


Attackers also use data breaches to steal personal identifiers, as well as phishing emails to trick victims out of passwords and financial information, the study…

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