Fraud prevention expert and Gerontologist Alexis Abramson, Ph.D. announced the publication of her latest book, “Stop Fraud.” This book will help inform and protect families from an escalating wave of scams and frauds. “Americans lost over $3.3 billion in 2020 due to fraud alone – an increase of $1.5 billion over what was reported in 2019,” says Abramson.
With very few scam-prevention manuals available, “Stop Fraud” addresses a critical need and has quickly become the definitive guide on consumer fraud protection. “Stop Fraud” is compact, easy to read, and available on Amazon.
“If you or anyone you know has been a scam victim, you are well aware how invasive and financially devastating this experience can be. The average adult is targeted more than ten times a year and falls victim to fraud at least twice in their lives,” says Dr. Abramson. The enormity of the recently released 2020 data surrounding fraud speaks to the necessity for all to be aware of the information contained in the book “Stop Fraud.”
- Americans received over 26 billion scam phone calls last year.
- Scam victims 70+ lost, on average, $10,000 per person to scams in 2020.
- Two-thirds of child identity theft victims are under the age of eight.
- Friends and family members commit 60% of elder financial abuse.
- Over $9.5 billion was lost in credit card fraud in the U.S. last year.
“These are staggering numbers, representing an incredibly complex problem. Unfortunately, this problem is here to stay. Everyone is a potential target. Many people are too embarrassed to tell anyone or admit they are a victim of fraud. Most say they are concerned that their friends and family will view them as being vulnerable or incompetent,” said Dr. Alexis. “In fact, only one of four fraud victims ever confess that they have been targeted. We must educate and protect our loved ones from fraud, scams and identity theft.”
Stop Fraud Before It Happens
“Stop Fraud” pays particular attention to scams targeting older adults, one of the most vulnerable targets. The FBI reports that seniors are at particular risk for scams because they tend to be trusting and polite. According to Abramson, older adults are also specifically targeted by scammers because many own a home, have financial savings, and generally have good credit.
Common schemes that target victims, regardless of age, include:
- Financial Scams
- Government Scams
- Home Scams
- Medical Scams
- Product Scams
- Identity Theft Scams
- Digital Scams
- Romance Scams
Romance scams are especially insidious and have become increasingly common, representing a loss of not only time and money but victims’ dignity as well. The Federal Trade Commission reports that victims lost a record $304 million in 2020 to romance scams – up over 50% from the previous year. This is a fourfold increase in just the last FIVE years, even though less than 15% of romance scams are ever reported!
“Stop Fraud” teaches readers how to recognize the most common scams, put precautions in place to protect their family from con artists, prevent their finances and identity from being stolen, take action if they think their being scammed, recover their money after a scam, avoid repeat scam attempts, and much more. The book also contains a comprehensive section full of helpful definitions. Throughout the book, readers will find lots of ‘Dr. Alexis Pro Tips’ alerting them about immediate actions they can take to begin protecting their family member’s money and confidential information.