Alicia Nelson-Bell, Finance Intern
Living in the technology age and having so much information so easily accessible can help improve our lives, but it can also make it difficult to know that we are getting information from the most trustable and accurate sources. One great, reputable and trustable resource that we want to highlight is the Consumer Financial Protection Bureau or CFPB. The CFPB is a U.S. government agency that makes sure banks, lenders and other financial companies treat you as the consumer fairly. Along with that, they provide lots of great education and tools to help consumers make informed financial decisions as well as teach others, including kids, how to do so.
The CFPB does a great job staying up to date on helping consumers protect themselves from the many scams that are going on at increasing rates than ever before due to the Coronavirus pandemic. In light of this, we want to highlight some of the different scams that are out there, how to recognize scams and what to do if you have been a victim of a scam.
Current Popular Scams:
Scammers will always use whatever is going on in the world that is creating stress, fear and uncertainty to their advantage, so it is important to stay up to date on what scams are currently happening so that you are best able to look out for them and recognize them. Some COVID-19 related scams include:
Tips to Help you Recognize a Scam:
In order to mitigate your risk of becoming victim of the many scams that are out there, it is important to educate yourself on ways to recognize them. Some tips for recognizing scams include:
We want to encourage you to check out the CFPB’s website to get even more up to date information as we did not include an exhaustive list. We would also like to encourage you to check out some of their other educational tools and resources to help you become even more empowered to make educated financial decisions. The more educated you are about protecting your finances and about finances in general, the less likely you are to experience as high of levels of financial stress. Always make sure that you are getting your information from reputable sources as well as only giving your personal information to reputable sources when necessary. The CFPB is on your side empowering your financial wellness!
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