Recently, a new Federal Trade Commission (FTC) rule went into effect to better protect individuals from fraud, particularly impersonation scams. For example, the rule makes it easier for the FTC to file federal court cases to recover funds for victims and impose penalties on perpetrators. According to the FTC, consumer losses to fraudsters falsely claiming to be businesses or government agencies (such as the IRS) topped $1.1 billion in 2023, three times the losses reported in 2020. Other changes since 2020 include methods of contact: Thieves are now more likely to use emails or texts rather than phone calls. Bank transfers and cryptocurrency also are playing a bigger role in these schemes. Contact the Cg Team with questions. © 2024