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Americans have lost nearly $500 million to Covid-related scams since the start of the pandemic, according to Federal Trade Commission data.

And the agency is warning that con artists will likely try to take advantage of families who expect to get monthly payments from the child tax credit, which start Thursday.

Around 327,000 people filed a fraud complaint to the federal agency between Jan. 1, 2020 and July 8 this year, the data shows.

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Victims lost a combined $488 million, according to the Commission. The typical person lost $366.

While fewer seniors have been duped relative to other age groups, their losses are almost three times higher — the typical person over age 80 lost $1,000 to…

Read full article at www.cnbc.com

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