FTC New Impersonation Scams Rule Effective Today – 2024
FTC New Impersonation Scams Rule Effective Today
Government taking action Against Scams!
Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• Federal Trade Commission
About This Article
The FTC’s new rule targeting government and business impersonation scams takes effect today, April 1st, 2024, aiming to combat the soaring losses reported by consumers, which surpassed $1.1 billion last year alone.
The rule addresses the most common tactics employed by scammers, such as fake account security alerts and phony subscription renewals, and highlights the rise in text and email-based scams alongside declining phone calls. Notably, bank transfers and cryptocurrency payments have become the predominant methods used by victims, prompting the FTC to propose stronger measures, including prohibiting the impersonation of individuals and facilitating scams.
