The Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center (IC3) is a central intake point for victims to report fraud. IC3 shares the complaints it receives with FBI field offices and other law enforcement and regulatory agencies for further investigation or action, as appropriate. Every day, the IC3 receives thousands of complaints reporting a wide variety of schemes, many of them targeting seniors. These complaints are analyzed to identify trends and help develop strategies to combat these schemes and protect potential victims from loss.
Last year, total losses reported to the IC3 by seniors increased 84% from 2021. Tech and Customer Support schemes continued to be the most common type of fraud reported, with 17,800 complaints filed by victims over 60. Monetary losses due to Investment Fraud reported by victims over 60 increased over 300%, more than any other kind of fraud, largely due to the rising trend of crypto-investment scams. In almost every crime type tracked by the IC3, losses involving cryptocurrency increased. Overall, cryptocurrency-related losses reported by the elderly increased by 350%.
To learn more and become aware of such frauds and scams the FBI report is available HERE!
As mentioned above, education is of great interest to every team member of First Financial Northwest Bank, especially in the area of financial literacy. We strive to make a difference by bringing these important life skills directly to the classroom, and occasionally bringing the classroom to the Bank. We endeavor to be a part of a students’ personal growth to becoming financially literate and thus, helping provide them with the skills that they will draw upon for a lifetime. We continue to work with the leadership of local school districts and the schools that educate our children.
In addition to our hands-on involvement with students, we continue to provide financial services in all our communities by supporting the great work done by non-profits and schools providing education and life skills to people of all ages.
To request financial literacy for your school or organization, please email us at: Compliance at ffnwb dot com