Fraud can happen to anyone. According to the U.S. Senate Special Committee on Aging 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 estimates that are even higher, 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 Jefferson County Extension FCS agent hosted a workshop titled “Scam Red Flags and Avoiding Fraud” for the Louisville Area Extension Homemakers. Evaluations placed educational emphasis on:

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

At least 15 consumers participated in the workshop. Following the class, 90 percent of respondents indicated they were able to understand the tricks and tactics a con artist might use; 90 percent felt confident in their ability to name at least two “red flag” promises; 95 percent now know two ways to protect themselves from fraud; and 90 percent can name at least one organization to which you can report potential fraud. Of those who participated, 95 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 85 percent plan to report potential fraud and scams.