Americans lost $77 million to Covid-19 fraud — and that's just the 'tip of the iceberg'

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Americans lost $77 million to Covid-19 fraud — and that's just the 'tip of the iceberg'
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Americans have lost about $77 million to fraud during the coronavirus crisis, according to the Federal Trade Commission. That's likely a vast undercount.

by international organized crime rings to file fraudulent unemployment claims in hopes of collecting the weekly payout from states.the federal government is paying jobless Americans through July.new program for self-employed workers and independent contractors, among others, allows workers to self-certify their need for jobless aid, making that program more susceptible to fraud, according to the Labor Department's inspector general.

"Scammers are seeing this as an unprecedented opportunity to take advantage of consumers, who are not only in dire financial straits but are being inundated with information about Covid cures or protections that are dubious at best and fraudulent at worst," he said. The most common reports lodged by consumers were around online shopping and vacations, according to the FTC.

Price gouging for in-demand products like hand sanitizer, bleach, disinfectant wipes and other cleaning products is likely fueling complaints about online shopping, while an ability to get refunds for airline tickets and hotels is likely a lead contributor to vacation complaints, Breyault said.

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