• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
FinanceCoronavirus

Coronavirus scammers have stolen over $100 million. These are the schemes Americans were most likely to fall for

Rey Mashayekhi
By
Rey Mashayekhi
Rey Mashayekhi
Down Arrow Button Icon
Rey Mashayekhi
By
Rey Mashayekhi
Rey Mashayekhi
Down Arrow Button Icon
August 14, 2020, 3:00 PM ET

They say that crisis breeds opportunity. Well, fraudsters certainly got the memo.

Americans have lost more than $100 million to fraud connected to COVID-19, the Federal Trade Commission revealed this week, with more than 160,000 fraud reports filed with authorities over everything from stolen stimulus checks to phony job offers and mortgage scams.

Personal finance website The Ascent parsed through the FTC’s numbers to document the various forms of fraud that have plagued Americans during the coronavirus pandemic. It found that phone calls were the most commonly reported method deployed by fraudsters, with nearly 9,700 cases that resulted in nearly $15 million in losses as of August 10. However, email-related fraud resulted in the largest losses, with more than 8,400 reported cases that cost Americans roughly $18 million.

Online shopping offers have been the most common source of fraud reports—with more than 24,400 instances reported, often involving phony products and services, that have cost consumers more than $14 million. Yet travel-related schemes have caused significantly more damage, with more than $35 million lost through nearly 18,700 reported instances of fraud, often involving trip-related refunds and cancellations.

Common examples of coronavirus-related fraud reported to the FTC include fake offers for at-home COVID-19 tests or vaccinations, as well as personal protective equipment (PPE). Others have fallen victim to identity theft related to fraudulent stimulus check offers, as well as scams involving mortgages, health insurance, and job opportunities.

The statistics also offer a geographic breakdown of where fraud has been particularly prevalent. While California, the nation’s most populous state, has seen the largest fraud-related losses with more than $15.6 million lost to scammers, other parts of the country have reported significantly higher instances of fraud per capita. 

Maine leads the way with an average of 6.84 fraud reports for every 10,000 people, while the District of Columbia (6.7), Massachusetts (5.52), and Nevada (5.46) have all exceeded the national average of 4.9 fraud reports per 10,000 people. Meanwhile, the likes of Hawaii, Massachusetts, Montana, and Rhode Island have reported higher rates of identity theft, in particular. 

As The Ascent notes, it’s hard to tell why certain states have reported higher rates of fraud than others. While certain scammers may be targeting specific geographic areas and populations, it could also be that residents in some states are more diligent about reporting fraud than others. Those in Maine, for instance, appear to be particularly savvy about avoiding scams; only 32% of Mainers who filed fraud reports indicated that they lost money through such schemes—the lowest percentage of any state, and well below the national average of 50%.

But with few signs that COVID-19 will be going away any time soon—and the possibility, however diminishing, of more stimulus help on the horizon—it appears unlikely that fraudsters looking to capitalize on the pandemic will stop targeting Americans, either.

About the Author
Rey Mashayekhi
By Rey Mashayekhi
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current price of Ethereum for May 21, 2026
Personal FinanceEthereum
Current price of Ethereum for May 21, 2026
By Joseph HostetlerMay 21, 2026
1 hour ago
Current price of Bitcoin for May 21, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for May 21, 2026
By Joseph HostetlerMay 21, 2026
1 hour ago
Current price of gold as of May 21, 2026
Personal Financegold prices
Current price of gold as of May 21, 2026
By Danny BakstMay 21, 2026
1 hour ago
Top CD rates from major banks May 21, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on May 21, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerMay 21, 2026
1 hour ago
Current price of oil as of May 21, 2026
Personal FinanceOil
Current price of oil as of May 21, 2026
By Joseph HostetlerMay 21, 2026
1 hour ago
Current price of silver as of Thursday, May 21, 2026
Personal Financesilver
Current price of silver as of Thursday, May 21, 2026
By Joseph HostetlerMay 21, 2026
2 hours ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
2 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
23 hours ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
4 days ago
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
Workplace Culture
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
By Preston ForeMay 19, 2026
2 days ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
19 hours ago
Current price of oil as of May 20, 2026
Personal Finance
Current price of oil as of May 20, 2026
By Joseph HostetlerMay 20, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.