Why Reporting Fraud Matters, Even If You Didn’t Fall for the Scam

You see the warning signs every day.

A text message claiming there’s a problem with your account. An offer that seems too good to be true. A caller demanding immediate payment. A request for personal information that doesn’t feel right.

And you ignore it.

That’s a good thing.

At Regions, Doing More Today helps fight fraud by educating customers, associates and the public about the latest scam tactics and warning signs. But even if you avoid becoming a victim, fraud-fighting professionals say your work isn’t done.

Reporting a scam can help protect others.

“The best tool for law enforcement is knowledge,” said Jeff Taylor, Senior vice president, Regions Corporate Banking Group. “Reporting a scam may help the next person avoid becoming a victim. It may also help the FTC and other enforcement agencies identify patterns and stop criminals.”

Reporting a scam may help the next person avoid becoming a victim. It may also help the FTC and other enforcement agencies identify patterns and stop criminals.
Jeff Taylor, Senior vice president, Regions Corporate Banking Group

Why Should You Report a Scam?

Many people assume there’s no reason to report a scam if they didn’t lose money. However, consumer reports help law enforcement agencies track emerging fraud trends, identify bad actors and warn the public about new threats.

The Federal Trade Commission (FTC) recently released a video explaining why scam reporting matters and how those reports support investigations nationwide.

“When you share your scam story with people you know, you’re helping them (and yourself) better recognize and avoid that scam in the future,” the FTC noted. “When you file a report with the FTC, it goes into Consumer Sentinel Network, a secure national database available to local, state and federal law enforcement.”

Help Protect Friends and Family

Reporting scams to authorities is important, but sharing your experience with others can be just as valuable.

“If you see a scam, tell your friends and family to help keep them safe,” said Kimberly Reece, customer advocacy manager for Enterprise Fraud Management at Regions. “Awareness is the first step toward stopping fraud. That’s why we invest time and resources into education.”

Fraudsters often rely on secrecy, urgency and fear. The more people understand how scams work, the harder it becomes for criminals to succeed.

What to Do If You’ve Been Scammed

Even the most vigilant consumers can become victims. Scammers are increasingly sophisticated and often impersonate trusted organizations, businesses and government agencies.

If you believe you’ve been targeted or have already sent money to a scammer, act quickly.

“Taking immediate action may help limit financial losses and improve the chances of recovering compromised accounts or personal information,” Reece said.

Helpful Reporting Information

The information presented is general in nature and should not be considered, legal, accounting or tax advice. Regions reminds its customers that they should be vigilant about fraud and security and that they are responsible for taking action to protect their computer systems. Fraud prevention requires a continuous review of your policies and practices, as the threat evolves daily. There is no guarantee that all fraudulent transactions will be prevented or that related financial losses will not occur. Visit regions.com/STOPFRAUD or speak with your Banker for further information on how you can help prevent fraud.