Money scams are becoming more sophisticated, with fraudsters targeting more consumers with cryptocurrency investment scams, fake online relationships and deceptive remote job postings. In 2024, Americans lost over $12.5 billion to fraud, with investment scams accounting for $5.7 billion of those losses.
Category: Financials
Posted inFinancials
Detecting fraud before it’s too late: Clever Girl Finance founder talks red flags and warning signs
Credit card fraud is on the rise, with millions of Americans falling victim to unauthorized charges every year. Bola Sokunbi, founder of Clever Girl Finance, shares expert insights on how to spot and prevent fraud before it spirals out of control, offering practical advice to protect your financial information in an increasingly digital world.
Posted inFinancials
AARP’s Fraud Watch Network: Supporting older adults in the fight against scams
AARP’s Fraud Watch Network works to educate older adults about the risks of fraud, offering resources and emotional support to victims of scams. Kathy Stokes, director of fraud prevention programs for AARP, emphasized the importance of reframing the narrative around fraud, urging society to recognize that scams affect everyone, not just older adults.
Posted inBUSINESS
How Washington, D.C.’s unbanked population compares to the rest of the US
Despite a decline in unbanked Americans since 2019, millions—especially those in marginalized communities—still lack access to traditional banking due to barriers like minimum balance requirements, distrust and limited physical access.
Posted inFinancials
How to spot and avoid digital fraud
Financial solutions investment advisor Zakiyyah Muhammad warns that Cash App scams are becoming more prevalent, particularly targeting elderly retirees and young users. By understanding common fraud tactics and staying vigilant, individuals can better protect their finances and avoid falling victim to digital payment scams.
Posted inFinancials
How to spring clean your finances
Janet Currie is president of Bank of America, Greater Maryland. This week she offers advice on how to spring clean your finances—by reviewing subscriptions, updating your budget, rebuilding your emergency fund, optimizing credit card rewards, using digital coupons, and enjoying free local events to save while having fun.
Posted inFinancials
Breaking down the TikTok trend of ‘loud budgeting’
By Laura Onyeneho Social media is best known as a place where flaunting your latest purchase or sharing your vacation snaps is the norm. A new trend has emerged on TikTok that encourages the opposite: being loud about not spending. “Loud budgeting,” a money-saving technique, is all about putting your financial goals first and being […]