FDIC-Insured - Backed by the full faith and credit of the U.S. Government2023 marked the first-time fraud losses amounted to $10 billion nationwide, a 14% increase over 2022. The top avenues of loss were investment scams, imposter scams, cryptocurrency, and bank transfers. It was reported that email was the top method to reach potential victims.
In an environment that’s constantly changing, it’s important to employ empathy to those who fall victim. For the person experiencing a scam, it can be scary and confusing as often times victims are being threatened with a form of fake blackmail, police, or impersonating a loved one in a stressful situation. Here are tips on how to comfort someone you care about after a scam.
Listen
Talking through stressful situations is important. If someone you care for falls for and pays a scammer, listen with empathy as the victim shares their story. Remember to reply with open communication, and with kindness and concern in your responses as they are not at fault, the scammer is. While sharing their story, actively listen to what happened as it’ll help educate you on red flags to look out for in the future.
Next Steps
If the victim shares that personal information was provided to the scammer, identity theft could be of concern. Talk to the victim about changing usernames and passwords on all websites and apps they use, to let their financial institution know so their accounts can be flagged and closely monitored, and to keep an eye on their credit score. Encourage the victim to share their story and report the scam to the FTC and credit bureaus in order to help protect families, friends, and community members while supporting the FTC in their fight against scams. Visit the FTC for a deeper dive on steps to take if you were scammed and how to report the scam.
For a full breakdown on the FTC’s 2023 report, visit Explore Data | Federal Trade Commission (ftc.gov)
If you are or suspect you are a victim of fraud, visit ReportFraud.ftc.gov to report.
