How Much Money Did Consumers Lose to Fraud in 2021?

We’re on the topic of financial scams this month – a far too common occurrence, especially for the elderly. But exactly how common are financial scams? Let’s put your knowledge to the test. 

According to the Federal Trade Commission, how much money did consumers lose to fraud in 2021?

a. $500 million

b. $1 billion

c. $3.3 billion

d. $5.8 billion

e. $10 billion


Keep scrolling to find the answer!









And the answer is… d. $5.8 billion!

That’s right – the Federal Trade Commission announced that Americans lost a collective $5.8 billion to fraud in 2021, a nearly 70% jump from 2020. Follow the Clarity blog to learn more ways you can protect yourself against scams and keep more cash in your pocket.