According to the Federal Trade Commission, consumers and businesses in Wisconsin have lost more than $107 million to fraud year-to-date, including $32.8 million in losses during the third quarter alone.
The Wisconsin Bankers Association is warning consumers and businesses about the increase in imposter scams. Lately, many scams involve scammers posing as government organizations, a bank or even a family member to pressure victims into sending money or sharing personal details.
Bankers across the state report that many victims realize they have been scammed within 24 hours and often return to their bank devastated and hoping the transaction can be reversed, the WBA said.
The association said it encourages all Wisconsinites to remain vigilant and stop if they feel rushed into making a financial decision. Urgency is one of the strongest indicators of a scam. Read more.