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<p class="wp-block-paragraph">Picture what makes a typical fraud victim. Do you associate a certain age, occupation, socioeconomic status, or other common demographic marker with fraud? If so, you’re not alone. And you would also be mistaken.</p>



<p class="wp-block-paragraph">Fraud, and in particular identity theft and cybercrime, is on the rise. And it’s affecting everyone.</p>



<ul class="wp-block-list">
<li>About 4.8 million people filed identity theft and fraud reports in 2020. That represents a <a href="https://www.iii.org/graph-archive/96074" target="_blank" rel="noreferrer noopener">45-percent jump</a> in just one year.</li>



<li>Young people (ages 20 to 29) <a href="https://www.ftc.gov/reports/consumer-sentinel-network-data-book-2020" target="_blank" rel="noreferrer noopener">filed 44%</a> of these reports.</li>



<li>Millions of people have lost money to scams – at least $3.3 billion in 2020. That’s more than twice the amount lost in 2019.</li>



<li>The median amount lost was greatest for those age 80 and above, <a href="https://www.ftc.gov/reports/consumer-sentinel-network-data-book-2020" target="_blank" rel="noreferrer noopener">at $1,300</a>.</li>



<li>On a list of states with the most reports of identity thefts per capita, Colorado ranks <a href="https://www.iii.org/table-archive/21319" target="_blank" rel="noreferrer noopener">20<sup>th</sup></a>.</li>
</ul>



<h2 class="wp-block-heading">How PERA Helps Prevent Fraud</h2>



<p class="wp-block-paragraph">A <a href="https://www.iii.org/fact-statistic/facts-statistics-identity-theft-and-cybercrime#:~:text=Identity%20theft%20and%20fraud%20complaints,-The%20Consumer%20Sentinel&amp;text=In%202020%2C%201.4%20million%20complaints,up%20from%20651%2C000%20in%202019.&amp;text=Of%20the%202.2%20million%20fraud,of%20%241.5%20billion%20from%202019." target="_blank" rel="noreferrer noopener">report</a> by the Insurance Information Institute states that criminals are “beginning to focus their attention on different financial accounts, such as loyalty and rewards programs and retirement accounts.”</p>



<p class="wp-block-paragraph">From time to time, criminals target PERA members and their retirement accounts. PERA employs a number of tools to help thwart these attempts. While much of this work is conducted confidentially at PERA, some of the anti-fraud measures PERA takes are visible to members.</p>



<ul class="wp-block-list">
<li>Those who have called PERA customer service know that customer service representatives ask questions to verify the identity of the person on the other line. </li>



<li>PERA has deployed two-factor authentication for members logging in to their online account. Alongside a strong password, this creates a barrier to anyone trying to access member accounts illegally.</li>



<li>Scammers can target PERA employers, too. PERA communicates regularly with employer contacts to share information that protects members.</li>
</ul>



<h2 class="wp-block-heading">Take Control of Your Information</h2>



<p class="wp-block-paragraph">In addition to the security defenses PERA employs, individuals can take the following steps to increase their protection:</p>



<ul class="wp-block-list">
<li>Use strong passwords. This might seem common sense, but millions of people <a href="https://www.cnn.com/2020/11/19/tech/common-passwords-2020-trnd/index.html" target="_blank" rel="noreferrer noopener">aren’t still following it</a>. Try using a <a href="https://www.copera.org/fighting-frauds-and-scams" target="_blank" rel="noreferrer noopener">password generator</a> from a trusted source.</li>



<li>Periodically <a href="https://haveibeenpwned.com/" target="_blank" rel="noreferrer noopener">check</a> to see whether your information has been stolen on other websites. Scammers often use information they find in one scam to commit other, potentially more serious scams elsewhere.</li>



<li>If you want a trusted friend or family member to have access to your PERA account in the event you are incapacitated, you can. Complete and submit <a href="https://content.copera.org/fighting-frauds-and-scams/" target="_blank" rel="noreferrer noopener">this form</a> at any time. If this document is not on file, PERA representatives are unable to make changes or even share information with anyone, including spouses, other than the member.</li>
</ul>


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Fighting Frauds and Scams