Posted by - May 01, 2020

As scams related to COVID-19 begin to rise, more and more businesses are finding themselves amidst a phishing scam. The United States Federal Trade Commission has reported that more than 17,000 complaints from US consumers have disclosed a total loss of US$13 million from COVID-19 scams, this is not to mention the many other scams that did not get reported. According to an article written by Welivesecurity, Scams related to online shopping and cancellation of travel has estimated to roughly over $5 million dollars in losses.

The COVID-19 pandemic has evolved into a massive scam epidemic with cybercriminals exploiting the mass public fear of the coronavirus. Scams have included selling non-existing facemasks, and false impersonation of health authorities. The FTC has compiled the data into an infographic which is updated regularly.  The total fraud loss is currently at $13.13 million, with a reported median loss of US$568. They have also presented a webpage with tips for consumers to avoid coronavirus-related scams.

If you are worried that you or your company are not prepared to handle these types of scams and would like to verify if your company is at risk, OptfinITy can help. Feel free to contact us at (703)790-0400 or contact us at for a FREE quotation.

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