SAVANNAH, Ga. (WSAV) – So many scams have cropped up related to COVID-19 that it’s now being called a “scamdemic.”
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A new study by The Ascent, a Motley Fool service, revealed that nearly 500,000 complaints have been filed with the Federal Trade Commission (FTC) and that up to $480 million has been lost by consumers.
“We’ve seen scammers and fraudsters just take advantage of a lot of the changes that have occurred to our everyday lives as a result of the pandemic, and it’s all to try to take hard-earned money from folks at this desperate time,” said Jack Caporal, a research analyst at The Ascent.
The report said Georgia consumers have lost nearly $12 million due to COVID-19 fraud since the start of the pandemic, and that the average loss is about $400.