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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.

There have been several waves of Vietnamese immigration to the United States, each with its own unique circumstances and characteristics. The location of Vietnamese immigration to the U.S. has varied across each wave.

First Wave (1975-1995): The first wave of Vietnamese refugees settled primarily in large cities on the West Coast and in Texas. Cities such as San Francisco, Los Angeles, and Houston became major centers for Vietnamese immigration and provided many of the resources and support networks necessary for these refugees to begin their new lives in the U.S. This wave was primarily composed of South Vietnamese military personnel, government officials, and their families, who were evacuated from the country during Operation Frequent Wind. Many of these refugees faced discrimination and struggled to assimilate into American society.
Second Wave (1980s-1990s): The second wave of Vietnamese immigration was more dispersed, with many refugees settling in smaller cities and rural areas. This was due to a combination of factors, including the availability of sponsors and job opportunities, as well as the cost of living in larger cities. Many second-wave refugees settled in the Midwestern and Southern regions of the U.S., where they established new Vietnamese American communities. This wave was primarily composed of people who had been living in refugee camps in Southeast Asia and was sponsored by relatives or churches in the United States.
Third Wave (1990s-Present): The third wave of Vietnamese immigration has been more diverse in terms of location, with many immigrants settling in both large cities and suburban areas. This wave of immigration has also been characterized by higher levels of education and financial stability, which has allowed many Vietnamese Americans to settle in more affluent areas. Additionally, the reunification of families has played a significant role in the settlement patterns of third-wave immigrants, with many choosing to live near relatives already established in the U.S. This wave of immigration has been driven by reunification of families and economic opportunities. Many of these immigrants have come to the U.S. through the family-sponsored immigration program.

Overall, the Vietnamese American community has made significant contributions to the U.S. and has established itself as a vibrant and successful community. Despite facing many challenges, the Vietnamese American community has remained strong and continues to grow and thrive in the United States, now found in many regions from California to New York and from Texas to Washington state.