Chart of the Day: Types of Fraud

Today’s Chart of the Day is from Visual Capitalist detailing and ranking common types of fraud. The report suggests losses are half a trillion dollars annually, which works out to $1,500 per adult in the US.

The category with the most reported incidents is “Imposters,” where a fraudster acts as a trusted person to get a victim to provide personal information or funds.

However, the one that stands out to me is the “Investments” fraud category, which accounts for the greatest financial losses by a wide margin with a median loss of $9,000 per incident.

My advice? Trust your gut, go slow, and reach out to your friendly banker who receives training each year to identify and catch fraud before it's too late.