Each year, millions of Americans fall victim to scams perpetrated from all over the globe. Although it is difficult to determine exact figures, the Federal Trade Commission (FTC) estimates that, last year alone, more than $1.7 billion was lost due to fraudulent activity. While exact figures are not available, it is also estimated fraud losses total in the hundreds of millions of dollars in Colorado alone.
Consumer education is the best weapon in the fight against fraud; therefore, being knowledgeable of the tactics used by scammers will greatly reduce your chances of becoming a victim.