Commerce and Insurance and Human Services Help Promote Fiscal Safety Through Fraud and Financial Abuse Awareness Month
Tuesday, October 14, 2008 | 05:34am
NASHVILLE – With the nation facing an economic downturn, Tennesseans more than ever need to be aware of the threats of fraud and financial abuse. That’s why Governor Phil Bredesen has proclaimed October Fraud and Financial Abuse Awareness Month.
Nationally and in Tennessee, fraud, identity theft and financial abuse are greatly underreported, yet they are some of the costliest crimes. In 2007, there were more than 800,000 fraud and identity theft complaints reported in the United States. In Tennessee, nearly 14,000 victims lost more than $13.7 million to these crimes. During state fiscal year 2007, the Tennessee Division of Consumer Affairs within the Department of Commerce and Insurance addressed more than 1,400 written complaints of fraud, recovered or refunded more than $2.3 million for consumers and referred nearly 1,400 complaints to other local, state or federal agencies.
“Increasing Tennesseans’ awareness of fraudulent practices is the primary way to help prevent further exploitation,” says Tennessee Department of Commerce and Insurance (TDCI) Commissioner Leslie Newman.
Vulnerable adults and seniors are especially susceptible to fraud and financial abuse.
“Reports to our Adult Protective Services division have increased dramatically—up 35 percent—over the last five years,” said Tennessee Department of Human Services Commissioner Gina Lodge. “Financial exploitation ranks only behind self neglect and neglect by others in the types of complaints we investigate. From sweepstakes schemes to a caretaker misusing government funds of an elderly or disabled adult, financial exploitation is a problem that keeps growing and one that must be stopped.”
TDCI and DHS are partnering with grassroots organizations, such as the Tennessee Vulnerable Adult Coalition and the Adult Abuse Coalitions of South Central, East, Upper Cumberland, Middle and West Tennessee, to stem the growing problem of fraud and financial abuse. The State also is working to educate the general public – but especially vulnerable adults – about strategies to prevent becoming fraud victims by readily detecting suspicious activities and encouraging Tennesseans to report such crimes wherever they find them.
For more information on reporting and preventing financial abuse and fraud, visit http://tn.gov/consumer/
For more information on Adult Protective Services, visit:http://state.tn.us/humanserv/adfam/afs_aps.htm
Or contact D. Christopher Garrett with Commerce and Insurance at 615-741-6007 or Michelle Mowery Johnson with DHS at 615-313-4707.