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Imposter scams are on the rise, with criminals posing as representatives of businesses, government agencies, and nonprofits to steal personal information and money. According to the Federal
Trade Commission (FTC), business and government imposter scams were the most reported form of imposter scams in 2023, resulting in over $1.1 billion in losses. This research report reveals
the following: * Over the past three years, approximately one in eight adults (around 40 million individuals) have attempted to report an imposter scam they experienced to the impersonated
company via its website. * Banks and credit unions were the most contacted (44 percent), followed by online retail stores (29 percent). * More than half (55 percent) of adults found it easy
to navigate to the fraud reporting section on the company website to report their experience of imposter fraud. However, about a third faced difficulties, and 10 percent were unable to find
the reporting location at all. * A majority (58 percent) successfully reported their fraud experience on the website, with most (56 percent) not needing to log in. As a result, 80 percent
felt very or moderately satisfied with their website experience. The report highlights several important considerations for businesses to improve their fraud reporting mechanisms: *
USER-FRIENDLY DESIGN: Websites should be easy to navigate with clear instructions on how to report fraud. * ACCESSIBLE REPORTING TOOLS: Businesses should provide dedicated forms, hotlines,
and prominently displayed email addresses for fraud reporting. * REGULATORY COMPLIANCE: Adherence to regulations like the Bank Secrecy Act (BSA) and the Gramm-Leach-Bliley Act (GLBA) is
crucial for safeguarding sensitive data and detecting suspicious activities. * CUSTOMER EDUCATION: Informing customers about common fraud schemes and how to protect themselves through FAQs,
tutorials, and alerts about recent fraud trends is beneficial. METHODOLOGY This national omnibus survey was conducted from July 25, 2024, through July 29, 2024, among a sample of n=1,102
adults age 18-plus, using NORC’s AmeriSpeak probability-based sample of pre-recruited panel participants. The data are weighted to the latest Current Population Survey (CPS) benchmarks
developed by the U.S. Census Bureau and are balanced by gender, age, education, race/ethnicity, and region. For more information, please contact Alicia R. Williams at [email protected].
For media inquiries, contact External Relations at [email protected].