Visoot Uthairam | Moment | Getty Images

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.

More from Personal Finance:
Child tax credit payments will help offset loss of benefits
IRS sending 4 million unemployment refunds this week
Why some applaud new leadership at the Social Security Administration

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


Comments are closed.