Inflation & Fraud — A Worry


We’re all worried about the possibility of the U.S. sliding into a recession. Financially it’s not a good thing but it’s also not a good thing for law enforcement and for businesses.

The FBI’s Internet Crime Complaints Center just released an alarming statistic. In recessionary times, crime goes up. In the recession of 2009, the FBI says there were 336,655 complaints.

That’s a 22% increase over the numbers seen in 2008. The amount of money lost was just under $560 million.

COVID caused a slight recession in 2020. The Internet Crime Complaints Center said there were 791,790 reports of fraud. That’s up 69.4% from the numbers in 2019. 

Most of the crimes seen during COVID were online. It’s done via social media and email hacking.

Source link: —

About PIA Western Alliance

The Professional Insurance Agents Western Alliance is a membership organization promoting and enhancing the success of independent agencies seeking to grow, learn and be heard within the industry.


More Industry News