Impersonation fraud losses have surged three-fold over the past three years to exceed $1.1bn in 2023, according to new figures from the Federal Trade Commission (FTC). The consumer protection agency revealed yesterday that it received 330,000 reports of business impersonation scams and nearly 160,000 reports of government impersonation last year – amounting to half the fraud reports lodged with it in the period.

Source: Infosecurity