Get Started Now! Get Your Credit Repair Do It Yourself!!

Florida Ranks 11th in Fraud Losses – Boca Raton’s Most Reliable News Source

New IdentityTheft Scam

Boca Raton, FL –  QuoteWizard®, a LendingTree company, and one of the nation’s leading online insurance marketplaces, released a new report on the skyrocketing cost of fraud in America.

Our team of insurance analysts found that fraud increased by over 97% in the last year, costing Americans more than $2.3 billion.

“The increase in fraud is directly tied to the ongoing pandemic. Criminals took advantage of relief efforts and we saw job-related scams, credit fraud and identity theft increase by more than 100%,” said Nick VinZant, Sr. Research Analyst and Insurance Expert with QuoteWizard.

The increase in fraud hit some states particularly hard. Nebraska saw a 193% increase in fraud losses, while California lost over $400 million.

A complete state-by-state breakdown of the impact fraud has had on each state is available at the link below.

Key Findings:

  • Fraud cost Americans $2.3 billion in 2020, a 97% increase over 2019.
  • Fraud reports increased by 30.1% in the last year.
  • Nebraska, South Dakota and Illinois had the largest increases in fraud-related losses.
  • Mississippi, Arkansas and Alaska had the largest increases in fraud reports.
  • Identity Theft and Credit Bureau scams are the fastest rising categories of fraud
The cost of fraud in each state
Rank State % increase in dollars lost 2019-2020 Total loss in 2020
1 Nebraska 193.2% $12,900,000
2 South Dakota 180.0% $4,200,000
3 Illinois 159.9% $93,300,000
4 Utah 157.0% $23,900,000
5 Hawaii 151.6% $15,600,000
6 Arizona 138.0% $69,500,000
7 Nevada 137.0% $36,500,000
8 Washington 134.5% $68,700,000
9 Wisconsin 124.2% $34,300,000
10 North Carolina 121.8% $72,100,000
11 Florida 119.8% $199,400,000
12 Georgia 118.9% $71,800,000
13 New Mexico 115.9% $24,400,000
14 New Jersey 115.5% $71,100,000
15 Virginia 114.2% $72,600,000

About QuoteWizard QuoteWizard ( is an insurance comparison marketplace for consumers looking to save on insurance. QuoteWizard provides consumers with direct access to thousands of qualified agents in all 50 states, as well as major carriers, who offer personalized quotes and the opportunity to save up to 40% on auto, home, health, and life insurance. Agents and carriers, in turn, benefit from millions of highly qualified leads, calls, and traffic to their site. Based in Seattle, QuoteWizard was founded in 2006.

Source: on 2021-05-10 18:07:30

Read More At Source Site

Add a Comment

Your email address will not be published. Required fields are marked *

− 2 = 3