Allstate and FTC monitor rise in impersonation scams and coverage gaps
What happened
Impersonation scams have become the defining fraud threat of 2026. According to Allstate Identity Protection, impersonation scams accounted for nearly 60% of all cases processed from January through September 2026. The Federal Trade Commission reported that Americans lost $3.5 billion to imposter scams in 2025 alone.
Why it matters
These 'fake-and-take' schemes, where fraudsters pose as banks or government agencies, often use payment methods like cryptocurrency or wire transfers. These channels frequently trigger exclusions or sublimit caps in most cyber and personal lines policies, creating a compounding loss risk for victims.
Who's involved
- AllstateTracking trends related to impersonation scams.
- Federal Trade CommissionMonitoring impersonation scam trends and reporting consumer losses.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- GEICOSpeculative
Might face increased costs related to systemic fraud risk in its core P&C operations.
- CNA FinancialSpeculative
Could face increased costs due to shared exposure to rising fraud costs and potential regulatory changes in the P&C sector.
- Sun Life FinancialSpeculative
May face increased costs due to shared exposure to rising fraud costs and potential regulatory changes in the P&C sector.
Keep exploring
The entities involved
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Allstate
American insurance company
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Federal Trade Commission
United States federal government agency
Related events
- Valley serves as a clearinghouse for scam information, involving the Federal Trade Commission.
- The Federal Trade Commission issued an action to protect consumers from scams in Fairfax County.
- The Federal Trade Commission issued a consumer alert regarding scams targeting Medicare beneficiaries.
- A report tracks the Federal Trade Commission's failure to enforce antitrust laws.