Federal Trade Commission Archives - Viet Bao Louisville KY

In a groundbreaking move, the Federal Trade Commission (FTC) has taken significant steps to enhance its outreach and services to non-English speaking communities, demonstrating a robust commitment to fighting fraud across diverse linguistic landscapes. The national briefing held on November 21, 2023, titled “The FTC Breaks Through Language Barriers to Reach Consumers Targeted by Fraud,” marked a pivotal moment in the Commission’s efforts to inclusively combat consumer fraud.

Expanding Multilingual Services

Recognizing the vital need to connect with consumers in their native languages, the FTC has extended its fraud reporting and advisory services beyond English and Spanish. The inclusion of multiple languages, including Arabic, Vietnamese, Mandarin, Korean, Somali, Tagalog, Russian, Polish, and Portuguese, is a strategic move to empower consumers from various linguistic backgrounds. This expansion not only facilitates easier reporting of fraud but also ensures access to crucial information on fraud prevention in a language that consumers understand.

Influential Participation and Testimonies

The briefing showcased the insights of key figures from the FTC, notably Monica Vaca, Deputy Director of the Bureau of Consumer Protection, and Larissa Bungo, Senior Attorney of the Division of Consumer & Business Education. Their presentations underscored the FTC’s dedication to consumer protection and education. Additionally, the event featured poignant testimonies from individuals like Jongwon Lee, who have directly benefited from the FTC’s multilingual services. These stories highlighted the real-world impact of the FTC’s initiative.

Aiming for Inclusive Consumer Protection

The FTC’s move to break down language barriers is more than just a policy shift; it’s a strategic initiative to gain a comprehensive understanding of the scams targeting different communities. This approach not only enhances the FTC’s ability to fight fraud but also empowers consumers to be proactive in protecting themselves. The initiative underscores the FTC’s commitment to inclusivity, ensuring that all consumers, regardless of their linguistic background, have equal access to protection and resources.

Collaborative Effort for Broader Reach

The event was a collaboration between Ethnic Media Services and the FTC, showcasing a partnership that amplifies the reach of consumer protection messages. The provision of simultaneous interpretation in Spanish, Korean, and Mandarin during the event was a testament to the FTC’s dedication to accessibility and inclusivity.

Conclusion

The FTC’s efforts to reach consumers across language barriers represent a significant stride in consumer protection. By recognizing and addressing the diverse linguistic needs of the American populace, the FTC is not only combating fraud more effectively but also reinforcing its commitment to safeguarding all consumers. This initiative sets a precedent for other government agencies to follow, promoting a more inclusive approach to public service and protection.

Scammers have continued to evolve their tactics, and 2022 saw a rise in the total amount lost by consumers and small businesses. The Federal Trade Commission (FTC) partnered with Ethnic Media Services to reveal the top five scams of 2022 and their economic impact, as well as how to spot and protect against them.

According to the FTC, while there was a decrease in the number of fraud reports received in 2022, the total amount lost by consumers and small businesses rose to $8.8 billion, the most ever reported. The top two frauds were imposter fraud and online shopping scams. Consumers reported losing $660 million to business imposters compared to $450 million the year before.

Investor fraud was the most lucrative for scammers, with consumers reporting a loss of almost $3.8 billion, with the majority in cryptocurrency scams. Scammers often entice consumers to invest in cryptocurrency through social media, presenting fake websites that show the consumer’s money growing. Social media was the contact method that had the highest aggregated dollar loss, with $1.2 billion.

The FTC experts also highlighted that scammers are targeting ethnic communities and speaking their language. For example, the Latino community filed a higher percentage of reports relating to problems with banks and lenders, related to debt collection, auto issues, and also business opportunities. Scammers also targeted Latinos with bogus business opportunities and work-at-home schemes. In contrast, the black community reported the largest number of reports about payday loan applications and student debt relief programs.

To help people spot and avoid scams, the FTC provides information in a dozen languages, including Amharic, Arabic, Chinese (both simplified and traditional), French, Hmong, Korean, Russian, Somali, Tagalog, Vietnamese, and Ukrainian. The FTC’s downloadable publication, Spotting, Avoiding and Reporting Scams: A Fraud Handbook for recent refugees and immigrants, helps people learn to spot some of the scams related to looking for a job, going through the immigration process, or just trying to figure out how things work in the US. There are also graphics in each language at the bottom of each page to share on social media, helping people in various communities know how to spot, avoid, and report fraud.

In conclusion, while the number of fraud reports decreased in 2022, scammers continue to evolve their tactics, with investor fraud and cryptocurrency scams being the most lucrative. The FTC recommends being aware of scams and provides resources in multiple languages to help people spot, avoid, and report fraud.