FTC Reports $81.5 Billion Losses to Financial Fraud Among Older Americans
The U.S. Federal Trade Commission (consumer protection regulator) estimates that Americans over 60 faced up to $81.5 billion in financial scam losses last year.
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Terms & Concepts
Federal Trade Commission (FTC): A U.S. government agency responsible for enforcing consumer protection laws and preventing fraudulent, deceptive, and unfair business practices.
Financial Fraud: Illegal activities involving deception for financial gain, such as scams, Ponzi schemes, or identity theft.