How Money Works Financial Fraud Is At An All Time High - Here is Why That's A Good Thing - How Money Works | How Money Works
Financial Fraud Is At An All Time High - Here is Why That's A Good Thing - How Money Works
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Financial fraud is at an all-time high!
American consumers lost a staggering $5.8 billion dollars to a range of schemes in 2021. This represented a 70% increase over losses in 2020.
This is part of a bigger trend which is seeing more people losing money to scams, schemes and hacks at a time where all of us should probably know better.
Consumers were just one group hit hard by scams. Corporations and even the government have seen a serious increase in losses caused by fraudulent behaviour.
There are a few reasons behind this trend which are worth exploring and understanding because they can give some clues about how these scams work, how they can be avoided and why record high fraud figures might actually be a good thing.
#HowMoneyWorks #Scams
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