The cost of fraud
June 8, 2018
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M Fraud hurts and fraud costs. I have watched trusting widow’s see their life insurance nest egg land in a fraudsters pocket. Widows are not the only target.
V Consumers reported losing $905 million last year. That’s 63 million more than the year before. Adults ages 20–29 reported losing money more often than their elders. But adults age 70 and over lost more money. Yes, most of those are women. The Federal Trade Commission has a bureau to protect consumers. But the greatest protection is one’s own knowledge, research, and accountable people around each person.
M Young or vintage, we need to talk to others, vet, and pause before any financial decision.