How Criminals Use Fake IDs to Drain Bank Accounts — And What the Law Says About Getting Your Money Back

Americans lost over $12.5 billion to fraud in 2024, a 25 percent increase from the year before, according to the Federal Trade Commission. More than 1.1 million identity theft reports were filed that year alone. Bank transfers and electronic payments were the highest-loss payment method — accounting for more than $2 billion in reported losses. […]