Dear Readers,

For the fourth year in a row, the DC Department of Insurance, Securities and Banking (DISB) has set aside a week to focus on fighting financial fraud in the District of Columbia. Mayor Adrian M. Fenty showed the city’s ongoing commitment by declaring August 10 to August 17 as the District’s Financial Fraud Awareness Week.

DISB uses this week to focus on scams that seduce consumers with promises of saving their homes, easy money or great prizes, and deceive or trick consumers into giving scammers their personal information or money.

The key messages for DISB’s Financial Fraud Awareness Week 2008 are: 

• Scams target you. Protect yourself.
• Don’t be seduced. Don’t be deceived.
• Fight the scammers! Don’t respond!
• If it looks too good to be true, it probably is.
• DISB is your source for information and protection. Visit our website at disb.dc.gov.

Financial fraud is fast becoming one of the most expensive and inconvenient crimes in society, especially with the downturn in the economy. Fraud causes people to lose time, money and confidence in the financial system. DISB has made several efforts to combat fraud on all fronts—through prevention by education and through enforcement and investigation.

This month’s The Capital Connection highlights fraud prevention. Find out more about the agency’s action against an insurance agent and the work DISB is doing to prevent fraud against District consumers. Further, you will be able to read about how DISB is dealing with the subprime lending mortgage fallout, birth-month producer appointments, as well as about a new captive that comes onshore in the District, and a whole lot more. As always, we hope our newsletters continue to provide you with useful information to help you with your businesses.

Happy Reading!
Office of Communication and Public Affairs