AARP warns of fraud network

Published 5:13 pm Tuesday, May 14, 2024

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Theft through fraud has risen exponentially over the last five years. A recent report from the Federal Trade Commission (FTC), found that reported fraud losses topped $10 billion in 2023, up from $2.4 billion in 2019. A recent survey from the AARP Fraud Watch Network showed that this growth is not going unnoticed with 58% of people worried about fraud. 

The survey also showed many people have lost money or personal data due to scams and fraud. Overall, 42% of people reported losing money, but among African Americans (56%) and veterans (50%) significantly more people lost money. Unfortunately, less than half (46%) of those who were victims of fraud shared their experience with friends and family. 

Having money or sensitive data stolen from a fraud criminal can be a traumatizing experience and all too often victims want to keep that trauma private. However, it’s often more harmful and isolating because victims end up suffering in silence. It is also a missed opportunity to protect friends and family by sharing an important story that could help keep them safe.

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