FTC took more than 35K fraud reports in Tennessee in 2020

Business

MEMPHIS, Tenn. (AP) — The Federal Trade Commission says it received more than 35,000 reports of fraud in Tennessee in 2020, resulting in more than $40.6 million in losses.

The commission said Thursday that the state’s fraud numbers increased from 2019, when there were 28,000 reports and $20.7 million in losses.

The FTC builds a database that receives reports from consumers, the Better Business Bureau, federal, state, and local law enforcement agencies, and other organizations.

The FTC says consumers in Tennessee reported identity theft most frequently. Other types of reports included imposter scams and fraud from credit bureaus, online shopping, and banks and lenders.

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