Fraud can happen to anyone. According to the U.S. Senate Special Committee on Aging's 2019 Fraud Book, it is estimated that older Americans lose at least $2.9 billion per year to financial exploitation schemes and scams. Other groups pose even higher estimates, and many agree that fraud is underreported. The best way to protect yourself from financial fraud and scams is to be aware of the tactics con artists use and learn to recognize red flags so you can avoid being tricked.

To increase consumer knowledge on fraud and fraud prevention, the Boyd County Extension Office hosted a workshop titled “Scam Red Flags and Avoiding Fraud” on May 28th at Safe Harbor Shelter. Evaluations placed educational emphasis on:

1. Understanding the tricks and tactics a con artist might use.
2. Naming “red flag” promises.
3. Knowing how to protect against fraud.
4. Knowing where to report potential fraud.

At least 3 consumers participated in the workshop. Following the class, 100 percent of respondents indicated they were able to understand the tricks and tactics a con artist might use; 100 percent felt confident in their ability to name at least two “red flag” promises; 100 percent now know two ways to protect themselves from fraud; and 100 percent can name at least one organization to which you can report potential fraud. Of those who participated, 100 percent indicated they plan to reduce the number of offers received by joining a list or by hanging up on or avoiding unknown callers, and 100 percent plan to report potential fraud and scams.

Participants shared that they "were surprised at how quickly scammers could adjust to anti-scamming technology" and that they had "seen an increase in scam risk phone calls that were not being flagged by their phones," which they were concerned about.