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Banks, credit unions and consumer advocates warn of rising scams; FTC data cited at legislative hearing
Summary
At a Nov. 18 committee hearing, banking and consumer-protection witnesses described detection and education efforts, urged better coordination and cited FTC estimates that Oregonians lost roughly $125 million to scams in 2024, with older adults disproportionately affected.
Banking and consumer-protection representatives told the House Interim Committee on Commerce to Consumer Protection on Nov. 18 that scams are growing in scale and sophistication, and that coordinated prevention and rapid-response systems are essential to limit financial losses.
Nick Dolman, fraud manager at OnPoint Community Credit Union, said OnPoint uses real-time systems, staff training and transaction monitoring to detect and interrupt suspicious activity; he gave an example where investigators delayed a transfer and prevented a…
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