The July 2022 Aite-Novarica report Consumer Scams: Rising in Velocity and Sophistication by Shirley Inscoe examines the rapid growth and evolving tactics of scams targeting consumers. It analyzes common scam types, contact methods, victim demographics, and fund recovery rates. The study highlights gaps in consumer knowledge, the limited availability of educational materials, and the importance of security precautions. It emphasizes the urgency for financial institutions and stakeholders to enhance scam awareness programs, improve prevention strategies, and strengthen customer protection against increasingly sophisticated fraudulent schemes.

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