Investment and work-from-home scams have surged during pandemic, feds say By Irina Ivanova Black Friday attracts online scammers
Scammers are targeting thousands of Americans who have lost their jobs or seen their pay decline during the coronavirus pandemic with fake investment schemes or work-from-home arrangements, federal regulators said Monday.
Between April and June of this year, the Federal Trade Commission received a record number of complaints about scams, according to the agency. More than 11,000 such incidents were reported a 70% jump from the year-ago period.
In the first nine months of 2020, victims lost $150 million to phoney offers of job training, work-from-home schemes or investment opportunities, according to the FTC. Since 2016, losses from these schemes have topped $600 million.