Empowering consumers with the knowledge to better protect themselves and know where to go if they experience a scam or fraud can help mitigate the impact of potential losses and support their financial security.
Why it matters
Financial scams and fraud targeting consumers have increased significantly in recent years in the United States. Consumers of all ages are susceptible to scams and fraud. According to FTC data, younger Americans are more likely to report losing money to fraud, but when older Americans experience a loss, the amount of the loss is greater.
Scammers target consumers with a variety of tactics intended to steal money or personal information from them, including investment scams, imposter scams, and romance scams. Scammers often use media, websites, apps, text messages, and phone calls to perpetrate scams. Knowing how to recognize scams and fraud and where to seek help allow consumers to protect themselves and recover from scam related incidents.
Resources
-
Consumer Financial Protection Bureau
-
Fraud and Scams resources help consumers prevent, recognize, and report scams and fraud.
-
Who to contact for help offers resources for consumers who have been victims of fraud or scams.
-
Classic warning signs describes red flags that indicate a person might be dealing with fraud or a scammer.
-
Types of fraud and scams describes warning signs of common fraud and scams and steps consumers can take to keep their money safe.
-
Older Americans includes consumer advisories, information for caregivers and service providers on how to prevent fraud, and resources for financial institutions.
- Elder fraud prevention and response networks guide offers guidance to community stakeholders who want to mobilize to prevent, detect, and respond to elder financial abuse.
- Money Smart for Older Americans: Avoid Financial Exploitation is a set of guides with information to help older adults and caregivers prevent, recognize, and report scams and fraud, and financial exploitation.
-
AskCFPB fraud and scams is a collection of frequently asked questions and answers related to scams and fraud.
-
-
Department of Labor
- Online Security Tips provides guidance for reducing cybersecurity risks that may lead to fraud or loss of funds in retirement accounts.
-
Department of Education
- How To Avoid Student Loan Forgiveness Scams helps individuals recognize student loan scam warning signs, identify legitimate assistance, protect their StudentAid.gov account information, and learn what steps to take if they believe they have been scammed.
-
Federal Deposit Insurance Corporation
-
Money Smart for Older Adults provides resources to help older adults and caregivers recognize, prevent, and respond to financial exploitation and common scams.
-
Money Smart for Adults provides resources to help consumers protect their personal information and financial assets and recognize and respond to identity theft and fraud, including Protecting Your Identity and Other Assets.
-
How Money Smart Are You? offers the interactive, self-paced game Protecting Your Identity and Other Assets, which helps consumers learn how to safeguard their personal and financial information and protect themselves from identity theft and fraud.
-
FDIC Consumer News offers practical guidance to help consumers make informed financial decisions. Popular articles include:
-
The Money Smart News issue “Identity Theft Prevention During the Holidays” highlights Money Smart resources that help consumers recognize phishing attempts, protect personal and financial information, avoid scams, and take action if identity theft occurs.
-
-
Federal Trade Commission
-
Consumer.gov has information to help consumers protect themselves and others from scammers.
-
ReportFraud.ftc.gov is a web platform where consumers can report fraud, scams, and bad business practices to the FTC. These reports are shared with law enforcement partners to help with their investigations.
-
-
National Credit Union Administration
-
Fraud and Scams contains information on common types of scams, scams aimed at seniors, information on what to do if a person has been scammed, and frequently asked questions.
-
Consumer Videos on Fraud and Scams cover a range of topics including fraud, scams, cyberthreats, and common scams targeting seniors.
-
Protect Your Credit and Identity with Cybersecurity Awareness discusses the economic consequences of cyber fraud and scams and how consumers and credit unions can help prevent cybercrime.
-
How Credit Unions Can Protect Older Americans Against Exploitation is a webinar that discusses how credit unions can protect their older members.
-
-
Office of the Comptroller of the Currency
- OCC Safe Money – Guarding Against Financial Frauds & Scams is a series of fact sheets about common types of consumer fraud and scams, how they work, how to detect warning signs, and how consumers can protect themselves.
-
Securities and Exchange Commission
- Investor.gov/Common Scams offers information about scams commonly reported to the SEC’s Office of Investor Education and Assistance.
-
Social Security Administration
-
Fraud Prevention and Reporting has information on how to report suspected Social Security fraud, identity theft, or misuse of Social Security programs. It also provides information on how to protect personal information and recognize fraudulent activity.
-
Protect Yourself from Scams covers common Social Security-related scams, warning signs, reporting options, and resources to help consumers recover from scams.
-
Identity Theft and Your Social Security Number explains how individuals can help protect their Social Security number, recognize the warning signs of identity theft, and respond if they believe their personal information has been compromised.
-