For this edition of the 3 On Your Side Podcast, Gary Harper talks to Jack Caporal, an analyst and writer with The Ascent and The Motley Fool research team who has gathered statistics regarding COVID-19 fraud cases.

Arizona consumers have been swindled out of nearly $10 million with an average loss of $325. Caporal uses a term “Scamdemic” while referring to the COVID-19 scams.

Since the beginning of the pandemic, American’s have filed over a half-million COVID-19 fraud reports totaling over $480 million according the Federal Trade Commission.

Arizona ranks No. 13 in the U.S. when it comes to COVID-19 fraud cases, California tops all states with COVID-19 fraud losses totaling more $65 million.

Resources:

https://www.linkedin.com/in/jack-caporal

https://www.fool.com/the-ascent/research/covid-19-stimulus-check-fraud-statistics/

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