Recovering From Fraud: It’s Not Just About the Money

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

FINRA: Non-Traditional Costs of Financial Fraud
- https://finrafoundation.org/sites/finrafoundation/files/2024-10/non-traditional-costs-financial-fraud_0_0.pdf
  - Related column excerpts:
    - “Nearly two-thirds of 600 self-reported fraud victims said in a survey funded by the FINRA Investor Education Foundation that they experienced, to a serious degree, at least one non-financial issue – for example, severe stress, anxiety, difficulty sleeping and depression.”
FINRA: Investor Insights – Recovering from Investment Fraud: Start with These 6 Steps
- https://www.finra.org/investors/insights/recovering-from-investment-fraud
  - Related column excerpts:
    - While the return of lost funds is a goal of someone who has been taken, ‘your recovery is also about finding ways to recover emotionally from the crime and protecting yourself from future scam attempts,’ quoting the recently released FINRA Investor Insight article ‘Recovering from Investment Fraud: Start with These 6 Steps.’ FINRA regulates member brokerage firms doing business in the U.S.
U.S. Securities and Exchange Commission: Submit a Tip or Complaint
- https://www.sec.gov/submit-tip-or-complaint
  - Related column excerpts:
    - “Report the fraud to regulators: ‘You might benefit from reporting the investment fraud to as many as apply,’ quoting FINRA. Among the agencies are the U.S. Securities and Exchange Commission and the North American Securities Administrators Association.”
NASAA: How to Report a Scam or File a Complaint
- https://www.nasaa.org/investor-education/how-to-report-a-scam-or-file-a-complaint/
  - Related column excerpts:
    - “Report the fraud to regulators: ‘You might benefit from reporting the investment fraud to as many as apply,’ quoting FINRA. Among the agencies are the U.S. Securities and Exchange Commission and the North American Securities Administrators Association.”
NASAA: Investor Bill of Rights
- https://www.nasaa.org/2715/investor-bill-of-rights/?qoid=investor-education
  - Related column excerpts:
    - “Know your rights: The NASAA publishes an Investor Bill of Rights, and the VictimConnect Resource Center, part of the National Center for Victims of Crime, has a referral helpline to assist crime victims. Also, reach out to your local U.S. attorney’s office and state attorney general’s office to find more details about your rights as a crime victim.”
Offices of the United States Attorneys: Find Your United States Attorney
- https://www.justice.gov/usao/find-your-united-states-attorney
  - Related column excerpts:
    - “Know your rights: The NASAA publishes an Investor Bill of Rights, and the VictimConnect Resource Center, part of the National Center for Victims of Crime, has a referral helpline to assist crime victims. Also, reach out to your local U.S. attorney’s office and state attorney general’s office to find more details about your rights as a crime victim.”

National Association of Attorneys General: Find my AG
- https://www.naag.org/find-my-ag/
  - Related column excerpts:
    - “Know your rights: The NASAA publishes an Investor Bill of Rights, and the VictimConnect Resource Center, part of the National Center for Victims of Crime, has a referral helpline to assist crime victims. Also, reach out to your local U.S. attorney’s office and state attorney general’s office to find more details about your rights as a crime victim.”
FINRA: Legitimate Avenues for Recovery of Investment Losses
- https://www.finra.org/investors/need-help/legitimate-avenues-recovery-investment-losses
  - Related column excerpts:
    - “Consider your options: FINRA provides an overview of legitimate avenues for recovery of investment losses. If you choose to pursue legal action, ‘[a]ttorneys with experience working on financial fraud cases might be able to counsel you on which remedies are available.’”
AARP Fraud Victim Support Group
- https://www.aarp.org/money/scams-fraud/fraud-victim-support-group/
  - Related column excerpts:
    - “Seek support: This might be the most important part of your recovery. ‘Consider whether you need professional assistance with your post-fraud financial picture,’ FINRA states. ‘If you’re experiencing guilt, embarrassment, shame or similar painful emotions as a result of the fraud, seek additional support.’ Among the possibilities are AARP’s Fraud Victim Support Group and FightCybercrime.org’s Romance Scam Recovery Group.”
FightCybercrime.org Romance Scam Recovery Group
- https://fightcybercrime.org/programs/romance-scam-recovery-group/
  - Related column excerpts:
    - “Seek support: This might be the most important part of your recovery. ‘Consider whether you need professional assistance with your post-fraud financial picture,’ FINRA states. ‘If you’re experiencing guilt, embarrassment, shame or similar painful emotions as a result of the fraud, seek additional support.’ Among the possibilities are AARP’s Fraud Victim Support Group and FightCybercrime.org’s Romance Scam Recovery Group.”
AARP: “Many Americans Worry About Becoming Scam Victims, New Report Finds”
- https://www.aarp.org/money/scams-fraud/aarp-fraud-awareness-report-2024/
  - Related column excerpts:
    - “Unfortunately, fraud impacts far too many families (estimated at 42% of adults by a 2024 AARP survey) and creates losses. The Federal Trade Commission reported that consumers reported losing more than $12.5 billion to fraud in 2024. And, even more devasting is the emotional impact of fraud: FINRA’s survey found that many victims blamed themselves for being taken, with 61% believing they were ‘too trusting.’”
Federal Trade Commission: “New FTC Data Show a Big Jump in Reported Losses to Fraud to $12.5 Billion in 2024”
- https://www.ftc.gov/news-events/news/press-releases/2025/03/new-ftc-data-show-big-jump-reported-losses-fraud-125-billion-2024
  - Related column excerpts:
    - “Unfortunately, fraud impacts far too many families (estimated at 42% of adults by a 2024 AARP survey) and creates losses. The Federal Trade Commission reported that consumers reported losing more than $12.5 billion to fraud in 2024. And, even more devasting is the emotional impact of fraud: FINRA’s survey found that many victims blamed themselves for being taken, with 61% believing they were ‘too trusting.’”