Posted on 08/20/23
Baltimore, MD – Aug. 20, 2023 - Maryland residents should be aware of a rise in fraudulent activities. According to a Forbes Advisor study, Maryland ranks seventh among the "10 Most Scammed States In America". In the first quarter of 2023, scams cost Maryland residents an estimated $34.7 million. The state had 9,239 fraud reports with a median loss of $580 per victim and received a fraud index ranking of 87.31 out of 100 by Forbes.
The scams vary from online schemes to text-message phishing and more. New scams frequently emerge, with methods including impersonation of banks, law enforcement, and in other areas as well. Imposter scams are currently the most prevalent, and individuals aged 60 to 69 are found to be the most susceptible. Forbes also noted that while credit cards are a common method used in scams, bank transfers and payments account for the highest monetary loss.