May 18, 2024

Local Banks Join Together for Customer Protection. Educational Series: “It’s a Scam!”

Consumers lost nearly $8.8 billion to scams in 2022, representing a 30% increase from the previous year, according to Federal Trade Commission data. Investment scams accounted for more than 40% of losses last year, at $3.8 billion. The second highest reported loss amount came from imposter scams, with losses of $2.6 billion. The FTC received fraud reports from 2.4 million consumers last year with imposter scams being the most commonly reported fraud, followed by online shopping scams.*

With those sobering statistics in mind, Osceola banks are inviting community members to learn more about how to protect themselves and their money. This joint effort is being encouraged by local law enforcement officials. The goal is to educate customers and the general population about different types of fraud, the common themes to watch for and how to react when suspecting fraud. Unfortunately, no person is exempt from being a target.

The ongoing educational series will kick off with a fraud seminar open to the public and conducted by the Iowa Attorney General’s office. This event will be held June 15, 10:00 am at Osceola United Methodist Church. You can also expect to receive educational flyers when making transactions at your bank.Local organizations may contact any bank to provide fraud prevention education at their meeting. Law enforcement is available to help assess your situation. Finally, the Osceola Sentinel-Tribune is also partnering and will publish educational materials in the newspaper.

It’s a Scam –Learn how to protect yourself.

* https://bankingjournal.aba.com/2023/02/ftc-consumers-lost-8-8-billion-to-scams-in-2022/