Consumer Safety: ‘Investment Scams Are Widespread’ | News

Residents of D.C. and those in the Pacific Northwest are being warned about an increase in attempted investment scams.

An investment scam consists of false promises and elaborate success stories to lure people into investing their money in a bogus scheme.

In the first quarter of this year, consumers reportedly lost more than $672 million to investment scams, according to the Better Business Bureau (BBB).

The Federal Trade Commission (FTC) reports that in 2021, consumers reported $1,679 million in losses.

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