The Tennessee Department of Commerce warns buyers that if a deal looks too good to be true, it probably is.
Tennessee’s high ranking for fraud and financial abuse complaints to the Federal Trade Commission has motivated local groups to come together to help prevent scams. Kevin Walters, communications director at the Tennessee Department of Commerce and Insurance, said it’s a real challenge.
He said this year, cases of fraud and financial abuse are up more than 33 percent statewide.
In 2017, the FTC said Tennesseans filed more than 43,000 fraud reports, totaling losses of almost $14 million.
Walters said seniors and adults with disabilities are among the most vulnerable targets for scams. TDHS Adult Protective Services received more than 4,000 complaints of financial exploitation in the past year.
He said it’s important to report scams to local law enforcement, and get information from the AARP Fraud Watch Network at aarp.org/fraudwatchnetwork.