MN Consumers Lose About $1.5B To Scams Annually, Report Says
By Dylan Siwicki
Published on March 16, 2026.
The Consumer Federation of America has reported that Minnesotans are losing an estimated $1.5 billion annually to online scams, far more than official losses suggest. The biggest culprits are Meta's Facebook and Instagram. The report found that only about 14 percent of scams are reported due to embarrassment and confusion. An estimated 83 percent of all online cybercrime losses are scams, with the rest attributed to other digital offenses like ransomware or malware. The losses are higher in the 10 targeted states that account for half of all reported fraud, California, Texas, Florida, New York, Illinois, New Jersey, Georgia, Pennsylvania, Arizona and Washington. The findings underscore the need for better reporting systems, stronger protections on digital platforms, and increased consumer awareness.
Read Original Article