On May 2, 2022, the CFPB released an article on how to prevent and report scams targeting older adults. In partnership with the Federal Trade Commission, the CFPB aims to help older adults and their families and friends know what to do if someone demands payment by these methods, and where to report fraud.

The CFPB provided tips to protect against scams and fraud including:

Don’t wire money;
Don’t pay with a gift card;
Don’t pay with cryptocurrency; and
Report fraud to the FTC.

Read the CFPB’s article here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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