TOPEKA, Kan. (WIBW) – AARP Kansas hosted a free Shred Event on April 4 in light of Fraud Prevention Month.
According to the Federal Trade Commission, consumers in Kansas reported $57.6 million in fraud losses in 2024. Those scams commonly involved impostors and identity theft.
AARP is taking steps to prevent scams and identity theft. Recently, Gov. Laura Kelly issued a proclamation recognizing April as Fraud Prevention Month and the importance of protecting the information of Kansans.
Saturday’s Shred Event allowed the community to drop off documents for shredding, ensuring their personal information does not end up in the wrong hands.
AARP Kansas invites the public to stay up to date on the latest scams with their free biweekly text alerts. Text “FWN” to 50757 for scam updates.
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Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.