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FTC delves into scam payments

June 4, 2024

Payment apps or services led other methods, including credit and debit cards, in terms of losses cited in the consumer fraud reports last year. Median individual losses for that category were $380, ahead of credit cards at $136 and debit cards at $110, the post said.

Credit cards were more commonly used to pay scammers, with the FTC receiving about 114,000 complaints for that method in 2023, followed by debit cards at about 83,000 and payment apps or services at about 65,000, according to public data from the Commission.

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