Federal Trade Commission data shows that consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30 percent over the previous year.
Consumers reported losing more money to investment scams—more than $3.8 billion—than any other category in 2022. That amount more than doubles the amount reported lost in 2021. The second highest reported loss amount came from imposter scams, with losses of $2.6 billion reported, up from $2.4 billion in 2021.
In 2022, the most targeted age group by fraudsters was people ages 30 to 39, among cases of fraud that were reported to the Federal Trade Commission (FTC) in the United States. People aged 60 to 69 were the second most targeted group.
Deb Reiter, CEO of CMIT Solutions has presented two programs for the Women’s Initiative on scams and how to avoid falling for them. Here are a few of the tips she shared in her programs.
Three Golden Rules of Spotting a Scam
Stop by either Itasca Bank & Trust Co. location to pick up a key chain to remind you to Stop, Think, and Listen before you react to a scam.
Women's Initiative Coordinator
"My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style." -Maya Angelou
"The greatest glory in living lies not in never falling, but in rising every time we fall." -Nelson Mandela
Also in this edition:
Women's Initiative Coordinator Diane Middlebrooks and John Binneboese, Senior Vice President of Community Relations, talk with Scott LaMorte about the beginning of the Women's Initiative, a program launched in 2000. For 23 years the Women's Initiative has offered programs that make a difference in women's lives. From personal interest to business and financial focus, the Women's Initiative offers the opportunity to connect with other interesting women.