1. FWN Goes to The Capitol
Fraud is an escalating crisis, with losses far exceeding what is reported. While $9 billion in fraud losses were reported in 2022, The Federal Trade Commission (FTC) estimates the true financial impact at $137 billion due to underreporting. The AARP Fraud Watch Network testified before Capitol Hill lawmakers in September to this effect, urging stronger consumer protections and support for victims of these crimes.
Kathy Stokes, director of Fraud Prevention for AARP, emphasized the rapid rise in fraud, calling it “meteoric”, and urged a coordinated effort from government, industry, and advocates to tackle the growing threat. Amy Nofziger, director of Victim Support for AARP, warned lawmakers that technology is making it easier for criminals to prey on older adults. “[Scams] operate 24/7 in our homes and through these devices that we carry in our pockets,” she explained.
The AARP Fraud Watch Network is dedicated to protecting consumers through support, education, and advocacy, and will continue to fight for stronger laws and protections at the local, state, and federal levels.
2. The Latest on Veteran Scams
Fraud cost veterans, service members, and their families $477 million in 2023, according to the latest Federal Trade Commission (FTC) data, and this only includes fraud that was reported. With over 85% of veterans having encountered service-related scams in the last 12 months, now is a great time to review some of the most prevalent scams targeting current and former service members.
Scammers employ vet-focused twists on impersonation scams, investment fraud, and more. Criminals frequently impersonate the VA, often threatening to cut off benefits if you don’t provide sensitive personal information or pay bogus fees. They may also contact you about investment opportunities, with low fees or special offers just for veterans. They may also claim to be a veteran themselves.
The White House along with the VA unveiled new fraud prevention resources for veterans. Visit
Vsafe.gov online or reach out to the new call center at
833-38V-SAFE (
833-388-7233).
3. Solar Sale Scams
The sun might be shining on solar energy, but buyers beware – costly solar panel scams could leave you in the dark with massive loans and higher bills. Here’s what you need to know to stay in the light against this scam.
The sales pitch often starts with a solar salesperson knocking on the front door, calling on the phone, or connecting on social media, offering promises of lower energy bills, reduced emissions, and increased resale value. They’ll likely push a special deal – but only if you sign right away.
Be suspicious and don’t share sensitive personal information with anyone who calls, emails, or visits you out of the blue promoting a solar panel deal, and always read the fine print before signing any document. Know that the government does not have any program that installs solar panels on the houses of Americans for free. If you are interested in solar, research providers, get multiple estimates, and check for complaints and issues with installation companies by visiting the Better Business Bureau national business directory at
bbb.org/search.
4.Black Friday/Cyber Monday Scams
The holiday deals have already begun, but not all those great deals you see online are legit. The start of the online holiday shopping season means that online scams intensify with it.Here are the two simple steps you can take to stay a step ahead of the online Grinch this holiday shopping season.
Type – don’t click. The safest place to shop online is with retailers you trust by using their app or typing their web address into your browser rather than clicking on a link from a text, email, or online ad. Also, know that any unbelievable deal a social media friend messages you about is truly not to be believed. Fraud criminals are experts at hacking social media accounts and one of the first things they do is send out fake offers to a victim’s friends and family.
