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Americans have lost over $124 million as a result of the more than 184,000 novel coronavirus-related fraud cases reported nationwide through the end of August, a recent study shows.
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A report published by The Motley Fool’s the Ascent shows Californians experienced the highest amount of money lost, with a collective $17.18 million, while Alaska saw the lowest total with only $49,000 in losses related to COVID-19, which is defined for the purpose of the study as being “any type of scam, fraud, or identity theft related to the novel coronavirus.”
New York reported the second-highest amount of total fraud loss, with $7.77 million, according to the Ascent, which compiled data obtained from the Federal Trade Commission. Texas and Florida followed, with $6.06 million and $5.96 million, respectively. Twenty other states reportedly experienced COVID-19 fraud losses of more than $1 million.
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Alaska aside, only two other states – Wyoming and Vermont – reported losses under $100,000, with $65,000 and $93,000, respectively.
But the median fraud loss – “the median amount that was reported lost among all reports in a particular state,” according to the report – paints a much different picture.
Median fraud loss was highest in Vermont, at $693, following by North Dakota, with $420, and Idaho, which reported $407, according to the study.