The Indicator from Planet Money Southwest surprises, tariff guac shock, and fraud flourishes
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Mar 14, 2025 This week's numbers reveal some surprising turns in the airline industry as Southwest Airlines shifts its baggage policy, moving away from free checked bags. Fraud is on the rise, with escalating losses from imposter scams leaving many consumers vulnerable. Meanwhile, Americans have developed an overwhelming love for avocados, with consumption skyrocketing from 500 million to three billion pounds annually. The discussion also touches on potential tariff implications and the financial literacy needed to navigate these changes.
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Rising Fraud Losses
- Fraud losses increased 25% in 2024, reaching $12.5 billion, according to the FTC.
- Imposter scams are the most common, often involving fake bank alerts.
Scam Tactics
- Scammers use various tactics, from stolen credit cards to convincing people to hand over cash.
- One common tactic involves impersonating authorities and requesting money transfers.
Avoid Phone Scams
- Avoid phone scams by not answering calls from unknown numbers.
- Phone scams result in higher median losses ($1,500) than text or email scams.