The Federal Trade Commission (FTC) received over 2.8 million fraud complaints in 2021, accounting for $5.8 billion in financial losses, a $2.4 billion increase from 2020. The most common types of fraud were imposter scams; online shopping scams; and fake sweepstakes, prizes, and lotteries. The FTC cited that 25% of all reported losses originated from social media platforms, and investment-related fraud totaled $1.6 billion. The class will cover some of the most common financial scams, discuss tactics fraudsters use, and outline how to avoid falling prey to them.
