A recent study performed by QRFY showed that Colorado ranks seventh as the most defrauded state in the U.S. The reports shows that nearly $2.8 million was lost per 100,000 Colorado residents in 2023.
Colorado residents lost a total of $161,231,218 to scammers in 2023. There were 40,625 reports of scams made to the Federal Trade Commission across the state.
The top scam plaguing the state were imposter scams which accounted for 19% of the scams committed in Colorado. Imposter scams are situations where a person is tricked into sending money to a scammer who is claiming to be someone they are not.
"It is important to be mindful of whether the person you are speaking to is who they claim to be, and to thoroughly authenticate all official channels before disclosing any personal or financial details,” said a QRFY spokesperson.
Typically, this type of scam is carried out via phone, email or text. The scammer often poses as a legitimate authority such as your bank, a utility company and even a police officer. The scammer says you owe them money and asks you to wire money or to purchase a gift card.
The best way to avoid an imposter scam is to not give out personal information or money to someone you don’t know, even if they seem legitimate.
There were over 12,000 reports of identity theft in 2023 which made up 17% of the scams conducted in Colorado. This scam is when someone uses your personal or financial information without your permission.
Identity theft can damage your credit and cost you time and money as you unravel the trail left behind.
To know if you are a victim of identity theft you should look out for bills for items you did not purchase, notice mail stolen from your mailbox or if you stop receiving mail and for foreign information on your credit report.
Some ads on social media sites can lead customers to fake stores. These false ads are often disguised to be from well-recognized brands but are actually scams. “Remember, if a deal seems too good to be true, it probably is,” the report states.
Some scams offer loans from banks and lenders under false pretenses. These scams target people by making promises they can’t deliver or by hiding the actual loan cost.
"As scammers continue to employ ever more inventive tactics to get hold of your finances, it's possible for people of any age to fall victim to fraud,” QRFY said.
Some tips to avoid scams include:
- Be suspicious
- Don’t trust unexpected contact
- Do your research
- Resist demands to act quickly
- Keep your computer virus protection updated
- Never open attachments, emails or images you feel unsure about
- Use different passwords for online services
- Reserve the right to be impolite
.jpg;w=120;h=80;mode=crop)
