These are all lies and ways to take your money and personal information. Others try to make you panic, thinking someone’s in your accounts. Some messages promise a good thing – a gift, a package, or even a job. īut why do they work? Scammers use the speed of text communication to their advantage: they hope you won’t slow down and think over what’s in the message. In fact, reports about text scams spiked in the first six months of the COVID-19 pandemic and have never returned to pre-pandemic levels. That’s more than double the 2021 reported losses and nearly five times what people reported in 2019. In 2022, they were right to the tune of $330 million in losses to text scams, as reported to the FTC’s Consumer Sentinel Network, with a median reported loss of $1,000. Texting is cheap and easy, and scammers are counting on the ding of an incoming text being hard to ignore. About the FTC Show/hide About the FTC menu items.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.Competition and Consumer Protection Guidance Documents.Enforcement Show/hide Enforcement menu items.
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