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08/02/2024
Fraud EDU: Lesson one with Regions’ expert Jeff Taylor
Yellow Hammer News
Fraud is consistently becoming more sophisticated and harder to detect. The Federal Trade Commission shows that consumers reported losing more than $10 billion to fraud in 2023, the highest ever reported— a 14 percent increase from the prior year. Alabamians who fell victim to fraud scams lost, on average, $50,670 in 2022; a total of 4,893 victims were reported in Alabama that year for a combined loss of nearly $248 million. While you can’t always prevent fraud from happening, you can take active steps to protect yourself, your family, or your business through awareness and education.
In this new monthly series, “Fraud EDU,” we will consult with and learn from local fraud-prevention experts to understand how fraud occurs, how to have a fraud awareness mindset, and how to prevent becoming a victim. From business email compromise and vendor impersonation, to the use of new AI technology, we will look at some of the most prevalent scams and tackle the biggest questions around the topic of fraud in order to stay vigilant and gain best practices of fraud prevention. Protect yourself, your family, and your business by staying up to date on recent scams and by joining us in this monthly series.
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