b'As Scammers Leverage Pandemic Fears, FTC and Law EnforcementPartners Crack Down on Deceptive Income Schemes NationwideFederal Trade CommissionPress ReleaseDec. 14, 2020www.ftc.gov/news-events/press-releases/2020/12/scammers-leverage-pandemic-fears-ftc-law-enforcement-partnersThe Federal Trade Commission, along with filed case. In these cases, the FTC is asking the court 19 federal, state, and local law enforcement partnersto stop the deceptive schemes and to get money on December 14, announced a nationwide crackdownback for affected consumers. on scams that target consumers with fake promisesOther agencies reporting actions as part of the of income and financial independence that have nosweep include: the U.S. Securities and Exchange basis in reality.Commission, the U.S. Commodity Futures Trading The impact of these scams has intensified Commission (CFTC), the U.S. Attorneys Office for as scammers take advantage of the COVID-19 the Eastern District of Arkansas, state agencies pandemic and financial crisis. in Arizona, Arkansas, California, Florida, Indiana, Called Operation Income Illusion, the crack- Maryland, New Hampshire, Oregon, and Pennsylvania, down encompasses more than 50 law enforcementand the Maricopa County Attorneys office in Arizona.actions against the operators of work-from-home andSome of the schemes targeted in Operation Income employment scams, pyramid schemes, investmentIllusion had a noted impact on one or more specific scams, bogus coaching courses, and other schemesgroups: students, military families, people on a that can end up costing consumers thousands oflimited fixed income, immigrants, Black Americans, dollars. Latinos, the deaf and hearing loss communities, or Income scams have a massive effect on older adults. A new analysis explores what groups of consumers, according to a new analysis of FTC consumers were most likely to be affected in certain complaint data. Consumers have reported to the FTC income scam actions.FTC that they lost more than $610 million to theseFTC Data Shows Big Jump in Consumer scams since 2016, with reported losses of more thanReports about Scams Originating on$150 million in the first nine months of 2020.Social MediaThe income scams that the FTC has pursuedNewly released data from the Federal Trade through its law enforcement actions in this sweepCommission reveal that there has been a surge in collectively bilked over a billion dollars from reports from people who say they lost money to a consumers. scam that started on social media, including a spike Scammers are preying on the unemploymentof these complaints in the spring at the height of the and anxiety arising from the pandemic by makingCOVID-19 pandemic.false promises of big income working from home,Data released by the FTC shows that the numbersaid Andrew Smith, Director of the FTCs Bureau ofof complaints about scams that started on social Consumer Protection. If someone promises youmedia more than tripled in the last year. People guaranteed income, but then tells you to pay them,reported losing more than $117 million to this typetell the FTC right away so we can work to shut themof scam in just the first six months of 2020 compared down. to $134 million for all of 2019, according to the FTCs In addition to ten previously announced cases,latest Consumer Protection Data Spotlight.the FTC is bringing four new law enforcement casesOnline shopping topped the list of complaints from as part of Operation Income Illusion, as well asconsumers who reported a scam to the FTC that announcing a new settlement in a previouslyoriginated on social media. Of these consumers, 12 Military Appreciation Resource Magazine Thank You For Your Service'