Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

African Americans and Latinos today’s fraud targets

rockrivertimes.com | November 3, 2016

By Dennis Horton

Last week, I attended a day-long, annual Consumer Protection Conference in Madison. It’s called “Common Ground” and is hosted, in part by, the Federal Trade Commission. Attending the meeting, along with representatives from Better Business Bureau offices in Illinois, Wisconsin, Iowa, and Michigan were representatives from Attorneys General offices across the Midwest. This year, there were also representatives from the NAACP, the Hmong American Peace Academy, and the League of United Latin American Citizens.

The entire morning was dedicated to addressing fraud and in particular how it impacts minority communities. In 2015 an FTC Study revealed an estimated 10.8 percent of U.S. adults – roughly 25.6 million people – were victims of fraud. That’s a huge number of people, but what is even more startling is, the study showed that African American and Latino consumers were more than twice as likely to become fraud victims than non-Hispanic whites. That conclusion is at best a guess… and that’s due mostly to the fact that problems/issues with fraud, in those communities are more than likely being under reported.

So – what’s happening? There are numerous scams that deliberately target minority communities. But, in reference to fraud, at the heart of the matter in the African American and Latino communities there is the need to work and generate income. Fraudsters play to that, as an example, there are pyramid schemes, great job opportunities, or the chance to get in on ground floor with a business opportunity. Issues with debt are also open doors for certain scams; credit repair, debt relief schemes, mortgage relief fraud, and advance fee loans.

The study found, in the Latino community specifically, there is often a language barrier; taking advantage of that, and adding a healthy dose of fear the con artist has found this to be an effective way to quickly intimidate people – especially immigrants. They will impersonate a government official – threaten fines, arrest, or deportation and demand immediate payment.

The results also showed with African Americans there is no language issue that show as an indicator of what fraud issues that community faces; but it did indicate economics is a factor. Researchers, identified debt-related frauds as disproportionately affecting the community. Individuals and companies target African Americans; advertising government-endorsed mortgage assistance programs, phony credit repair and debt relief scams.

As I mentioned earlier these crimes are being underreported by minority communities. Part of the reason it appears there is a general reluctance and embarrassment to report the fraud by filing a complaint. Also it is very probable African American and Latino consumers distrust the government, think their complaints will not make a difference, have concerns about their immigration status, or they simply don’t know where to file a complaint.

What’s being done? Step one, the FTC working with partners like those attending the conference, is mounting a campaign to encourage people to talk about and report fraud in their communities. As I see it – talking about fraud helps people avoid being scammed.

The FTC also plans to step up its monitoring of advertising aimed at minority communities. And again working with its partners, the media, and law enforcement, they plan to increase consumer outreach and education in the African American and Latino communities.

Dennis Horton is Director of the Rockford Regional Office of the Better Business Bureau.

 

 

 

 

Order Cutting-Edge Services Now   Quiet Title Packages from Licensed Attorneys
     
CFLA Sponsored Attorney Links   CFLA Training Academy

 

 

Back to November 2016 Archive

 

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer

Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:

 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Sutton Law Firm, P.L.L.C.

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 832-932-3951
Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved