US consumers have lost over $4 Billion just in 1 year as a result of online fraud

The number of online scams has been increased a lot especially during the pandemic situation as a result of an increase in online activities, for instance, people started working online and many people now prefer shopping online. A recent report shows that cybercriminals have scammed a record amount from the people of the US. Americans lost about 7.6 Billion Dollars as a result of online fraud from 2017 to 2019. Now people have lost more than half the sum just in the year 2020.

Cybercriminals are using various tactics such as phishing, bluffing, and catfishing. Most scammers try to hide their original identities so that people cannot recognize who actually they are. Some of them try to take the confidential information of users by showing their credible profiles. Some criminals spread links on third-party websites so that they can steal the data from users when they click on such links. A new study has been published by the SocialCatfish, which shows that US consumers have lost more than 4.2 Billion Dollars merely in 2020.

According to the study, these criminals mostly target people on dating platform or some of the gaming sites where most people are young and they can be trapped easily. These bilkers make their script first called playbook of scammers before they start chatting with the sufferer. When these bilkers are successful in getting the trust of innocent people, they give them fake reasons, for instance, they show that they are in trouble and they need some money or and will return it as soon as possible. SocialCatfish has gathered the data from several security institutions which shows that about 621 Million Dollars were stolen through an online swindle from the people of California. Almost 170 Million Dollars were taken from the people in Ohio State.

However, these criminals were not really successful in stealing the money from the public in South Dakota, New Hampshire, and West Virginia. Most people were tricked through social platforms such as Hangouts, and WhatsApp, etc. After these social applications, these dating applications such as Tinder and some others are at the top where people were scammed the most. However, deceivers say that they do not use these dating sites to scam people and many of them use the phishing technique to cheat people. These cybercriminals are mostly from the developing countries including India, Nigeria, and Mexico. Take a look at blow infographics for more insights:
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