Scammers stole at least $4.2 billion from individuals in 2020, more than half of the amount stolen over the previous three years, according to a new report analyzing federal data.
Identity verification website Social Catfish noted in its report that the $4.2 billion reported lost due to online scams in 2020 compares to $7.6 billion collectively lost between 2017 and 2019.
Last year’s figure was included in a 2020 internet crime report released by the FBI in March.
Social Catfish noted in its report released Monday that some individuals may also be too ashamed to file a report about being scammed online.
Citing a survey sent to 722 users and members of a Facebook group who reported being scammed, the site said nearly three-quarters of respondents were “too ashamed to file a report.”
“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,…