More than 30 million Americans who are victims of financial fraud every year, according to a guide for consumer advocates, lawyers, counselors and other victim service providers, released today by the National Center for Victims of Crime and the FINRA Investor Education Foundation.
“Taking Action: An Advocate's Guide to Assisting Victims of Financial Fraud,” provides strategies for addressing the major types of financial crime, including investment fraud, identity theft, mortgage and lending fraud and mass-marketing scams.
Steps include helping victims place fraud alerts with the three major credit reporting agencies, referring victims to mental health counseling, giving advice for civil remedies and encouraging victims to report crimes to law enforcement.
The guide notes that encouraging victims to report crimes will help authorities gain a better sense of the scope of financial fraud, which “goes largely unreported” to law enforcement.
“Reporting one's victimization is complicated by feelings of shame and guilt, as well as other complex factors,” according to the guide.
Read the guide HERE.