(Washington, DC) — In keeping with its 2008 objective of reducing insurance, securities and banking fraud, the DC Department of Insurance, Securities and Banking (DISB) dedicated August 10 to August 17, 2008, as its fourth annual Financial Fraud Awareness Week to assist in its ongoing fight against financial-services fraud.
“We have seen an increase in reports of financial fraud in the District of Columbia,” said DISB Commissioner Thomas E. Hampton. “This is the case especially in the area of mortgage-related fraud where we have seen a significant increase due to the problems being experienced by consumers who are having difficulties meeting their mortgage payments. Desperate homeowners, looking for some type of financial relief, are victimized by foreclosure-rescue schemes and mortgage-related bankruptcy schemes and we will be providing information to assuage this trend. The downturn in the economy may have been responsible for this increase.”
DISB has partnered with organizations such as the National Insurance Crime Bureau, the Coalition against Insurance Fraud, the Federal Bureau of Investigation and the Financial Crimes and Fraud Unit at the Metropolitan Police Department to assist the agency in identifying criminal patterns and providing its investigators with information and investigative techniques that may be used to develop enforcement cases.
For this year’s Financial Fraud Awareness Week, DISB will provide daily information to District residents on fighting fraud, especially mortgage and foreclosure scams. The agency will also be taking part in various seminars and fraud events hosted by other District agencies. Please visit DISB’s agency calendar on the website at disb.dc.gov.
Financial Fraud Awareness Week 2008 is aimed at raising District residents’ awareness about how they could spot scams, protect themselves from scams, and where to report scams to help protect others.
WHEN: During the week from August 10 to August 17, 2008.
WHAT: DISB is launching its information-driven campaign with a proclamation from Mayor Adrian M. Fenty to declare the fight against financial fraud by increasing consumer awareness and reducing risk.* DISB will send out daily tips on different types of fraud, how to recognize financial fraud, and how to fight against it. DISB is offering media appearances to talk about fraud, and DISB staff will be giving away information on fraud in select areas in the District of Columbia.
District residents needing more information on Financial Fraud Awareness Week or to report suspected fraud, should contact DISB at (202) 727-8000. For more information on fighting fraud, visit DISB’s website at disb.dc.gov.
Each weekday of Financial Fraud Awareness Week, DISB will be publishing consumer tips on financial fraud awareness issues: