2021 Fraud and Identity Theft: How Does It All Add Up?

February 18, 2022 - by Identity Champion

A popular proverb maintains that “to be forewarned is to be forearmed,” and there are few arenas where this is more applicable than fraud and identity theft. If you can anticipate the tactics of a potential fraudster, you stand a much better chance of avoiding falling victim to a scam or having your identity stolen. To help you do just that, we’ve crunched the numbers for 2021 and put together a list of the ten most common types of fraud you’re likely to encounter.

In 2021, the Federal Trade Commission (FTC) received more than 4.2 million reports of identity theft or fraud. The trends showed a major upswing in total money lost in many categories (imposter scams alone accounted for more than $2.3 billion), and in the sheer number of reports (the number of investment related scams increased 193% between 2020 and 2021). Read on for our breakdown on the trending fraud techniques from 2021 and, more importantly, how to avoid them.

In 2021, there have been data breaches at major companies, plus the leak of a file with potentially billions of passwords from past data breaches. Add in the number of active scammers and fraudsters, and it’s easy to see why protecting your personal information with AAA Identity Champion is a valuable investment. AAA members can activate basic coverage at no additional cost. Check out our serenity-saving services like internet & dark web monitoring and insurance for potential legal fees and stolen funds. 

If you are certain that you’ve been the victim of a scam, report your case to the Federal Trade Commission at their website, where the information provided is shared with more than 3,000 law enforcement partners to help with investigations. 

The content provided in this blog post is for informational purposes only, and is not intended to be an offer to sell any Identity Champion product or service. A3 Labs LLC makes no representations as to the accuracy or completeness of the information contained in this or any blog post on the Identity Champion website.

The Cyber News by Identity Champion blog is for informational purposes only.