This August, BBB Institute hosted 19 BBB communications and outreach professionals from throughout the United States to learn about the Fighting Financial Fraud program and how they can implement this program in their communities. BBB Institute was joined by our partners, the FINRA Investor Education Foundation (FINRA Foundation), as well as staff from FINRA and SEC. This training was organized and supported thanks to a grant from the FINRA Foundation.

“This seminar blew my expectations away. [It was] highly informational, well focused… and amazing execution. Thank you, all!” noted one training attendee in the evaluations.  Attendees said they left the training feeling confident that they now know where to find financial fraud resources and information when needed, and that they can facilitate the program in the upcoming months.

Each year, new program resources are released to ensure the workshops are relevant to recent fraud trends to maximize their impact in communities. This year, a new workshop covering the basics of cryptocurrency, Bitcoin, and ICO scams was released in pilot format—to be rolled out to the entire BBB system in late October for use in consumer and small business communities. This follows on the heels of new articles being joint-authored by BBB and FINRA, and a new scam category being added to BBB Scam Tracker to track scams related to virtual currencies.

“[This is] a very clear and digestible overview of a topic that can be so, so confusing,” said one training participant. “BBB is up to speed with current marketplace trends, some of which aren’t even fully regulated.”

These training attendees, serving communities from Massachusetts to Hawaii and seventeen states in-between, will spend the next few months adapting the Fighting Financial Fraud program to their communities’ specific needs and implementing it in a variety of consumer and business settings. While the formal training has concluded, the cohort will continue conversations throughout the coming weeks and months—solidifying what they learned and putting their new knowledge into action.

As one attendee noted, “together, we really have a great ability to make a difference.”

 

About the Fighting Financial Fraud Program

The Fighting Financial Fraud program is designed to empower consumers to spot the signs of a financial scam, recognize scammer behaviors, and know where to go to verify legitimate investment professionals. We know prevention is key—by sharing stories and information with friends and loved ones, consumers are less likely to fall victim to a fraudster. Investment scams in particular can have long-lasting consequences and can result in the loss of one’s life savings for retirement. The Fighting Financial Fraud program is a partnered effort between the BBB Institute and the FINRA Investor Education Foundation. Find out more at https://www.bbbmarketplacetrust.org/fighting-financial-fraud.