‘Fraud is at a crisis level,’ says expert: 5 financial scams to watch out for in 2024

Advanced technology and artificial intelligence are heightening the challenge for consumers to detect scams. Fraud costs in the U.S. exceeded $7 billion in the first three quarters of 2023, up 5% from the same period in 2022, as reported by the Federal Trade Commission. Described as a crisis by AARP’s Kathy Stokes, perpetrators, often organized criminal enterprises, employ scripts to exploit victims emotionally. The evolving threat emphasizes the need for increased vigilance among consumers.

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Source Article: https://www.cnbc.com/2024/01/18/5-financial-scams-to-watch-out-for-in-2024.html

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