Stop, Prevent & Report Financial Scams

From Chairman Dan Meuser — House Financial Services Subcommittee on Oversight & Investigations

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Fraudsters target families, seniors, small businesses, and even local governments. Below is a plain-English guide to common scams, what to do right now if you’ve been targeted, and exactly where to report it. This page highlights resources from the Office of the Comptroller of the Currency (OCC) and other federal partners.

If you’ve been scammed or suspect fraud — Do this first:

1. Contact your bank/credit union/card issuer immediately to freeze accounts, dispute charges, and initiate recalls (for wires/ACH). For business-email compromise (BEC), ask your bank to contact the destination bank and move fast on a recall. Then file with the FBI IC3.
2. Report it so law enforcement can act (see the reporting directory below). FTC’s ReportFraud.ftc.gov routes cases to the right agencies.
3. Protect your identity (place a fraud alert/credit freeze, create an IdentityTheft.gov recovery plan).
4. For older victims or caregivers, call DOJ’s National Elder Fraud Hotline: 833-FRAUD-11 (833-372-8311) for one-on-one help.

Quick links — Report fraud by type:

• Any scam, imposter, or unfair practice (consumer):ReportFraud.ftc.gov
• Internet/cyber-enabled crime (including crypto & BEC):FBI Internet Crime Complaint Center (IC3)Rapid reporting can aid fund recovery
• Bank, mortgage, credit card, debt collection, money transfers, credit reporting issues: CFPB – Submit a Complaint Phone: 1-855-411-CFPB
• National bank problems (OCC-regulated):HelpWithMyBank.gov – File a Complaint
• FDIC-supervised bank problems:FDIC Consumer Response/Complaint Process
• Federal Reserve-supervised institutions:Federal Reserve Consumer Help – File a Complaint
• Securities & investment fraud:
  • SEC Tips/Complaints (TCR) webform
  • FINRA (broker/advisor issues), and Securities Helpline for Seniors®: 844-574-3577
• Commodities, futures, digital asset derivatives fraud:CFTC – Submit a Tip (Form TCR)
• Mail fraud or stolen mail/checks:U.S. Postal Inspection Service – Report Mail Fraud
• Tax scams, IRS impersonation, or tax-related identity theft:IRS – Report Phishingand Identity Theft Central
• Social Security scams or benefit fraud:SSA Office of Inspector General – Report Fraud; SSA Fraud Prevention Hub
• Elder financial exploitation (report & get help):National Elder Fraud Hotline: 833-FRAUD-11

Common scams — What they look like & how to avoid them:

Imposter & government-agency scams
Scammers pose as the IRS, Social Security, a bank, tech support, or even a relative (“grandparent scam”) to demand money or personal info urgently. Hang up; verify using official numbers/websites; never pay by gift card or crypto.

Phishing / smishing / vishing
Fake emails, texts, or calls try to make you click links, download malware, or reveal credentials or MFA codes. Don’t click; type the site yourself; enable MFA; use a password manager. Report tax-themed phishing to the IRS. 

Card, ACH & check fraud
Lost/stolen card numbers, counterfeit checks, “washed” checks from mailboxes, or unauthorized ACH. Use secure mail (or the post office), lock your mailbox, monitor accounts, set alerts, and report immediately. 

Investment & crypto scams
“Guaranteed” high returns, fake trading platforms, celebrity impersonations, or romance-turned-investment schemes. Check licensing (BrokerCheck/SEC), be skeptical of pressure to move funds to new “safe” accounts or wallets. Report to SEC/FINRA/IC3. 

Business Email Compromise (BEC)
Fraudsters hijack or spoof business/vendor email to redirect payments. Verify payment changes with a known phone number; set dual-control for wires; act within hours to recall funds and file with IC3. 

Debt collection scams
Threats of arrest or legal action for debts you don’t recognize, demands for immediate payment, or refusal to provide a written validation notice. Ask for validation; don’t pay on the spot; report to CFPB/FTC. 

Mortgage/loan relief & credit repair schemes
Upfront fees for “guaranteed” modifications, special programs, or removing accurate negatives from credit files. Work directly with your servicer; avoid upfront-fee offers; check CFPB resources. 

Elder financial exploitation
Unauthorized withdrawals, pressure to buy gift cards, “tech support” refunds, romance/inheritance scams. Talk to a trusted family member or banker; call the Elder Fraud Hotline. 

OCC “Safe Money” consumer guides:

The OCC publishes short explainers on common frauds—great for families and community groups:

• Imposter Scams • Identity Theft • Check Fraud • Credit/Debit Card Fraud • Debt Collection Fraud • Mortgage Fraud • Financial & Investment Fraud (and more)

Explore all OCC fraud resources here. 

Where to get help with your bank or lender:

• Start with the company (use the number on your card/bank statement).
• If unresolved, file with the right regulator:
  • CFPB (most consumer financial products & services)
  • OCC(national banks)
  • FDICor Federal Reserve (for institutions they supervise)