One-Third of Financial Fraud Victims Did Not Contact Law Enforcement, Per CFP Board

The types of fraud most encountered by survey respondents of CFP Board’s Don't Fall for It: Guarding Against Financial Fraud research are phishing or "smishing,” impostor scams and investment fraud. CFP Board Ambassador David Zuckerman, CFP® mentioned that the telltale signs of financial scams involve unnecessary urgency or impersonation of government agencies or banks. CFP Board Managing Director of Research Kevin Roth, Ph.D noted that many fraud victims face uncertainty, making a financial planner a valuable resource for cutting through the confusion.

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