In a recent Chase survey of 2,000 consumers, 84% of survey respondents agreed that scams and scammers have become more sophisticated in recent years. To spot fraud, it’s important to learn more about the most widespread scams, how to prevent them.
Model D: How common are fraud and scams?
Fraud cases are unfortunately becoming more prevalent, and more sophisticated. In fact, the FTC revealed that 3.5 million people reported being a victim of fraud or identity theft in 2020, an increase of more than 1.5 million from the previous year. For Black communities, the problem is even worse with nearly half (40%) of Black adults being targeted by online scams and fraud, according to AARP.
Model D: What kind of scams exist that we should be aware?
While new scams are always popping up, there are several common approaches that keep resurfacing year after year. Some of the more common scams we’ve encountered and helped our customers fight against may not always seem so obvious at first if you’ve been targeted.
What shocks many of our customers is how far scam artists are willing to impersonate familiar faces, whether that be close relatives or community officials, and also be able to trick you so easily by using your own…
