Our most recent edition of First Line of Defense, offered by CUES in partnership with TRC Interactive, Inc., brings updates on weather/climate disaster fraud and a reminder that everyone–regardless of age–can fall victim to fraud.
The Federal Trade Commission reports that scam victims are getting younger, and their losses are getting bigger. Adults over 60 were less likely than younger consumers to lose money to scammers, but their losses were bigger when they did. Adults over 60 were also more likely to report losing money to certain types of scams.
Last year was a record-setting year from weather/climate disaster events, according to the National Oceanic and Atmospheric Administration. The United States saw more than 18 weather/climate-related disaster events and losss of more than $1 billion through Oct. 2, 2021. Those 18 disaster events outdid the average of seven per year from 1980 to 2020.
With the rise in disaster events, credit union staff should be on the lookout for disaster-related fraud, including:
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