Financial Literacy Month might be coming to an end soon, but the Federal Trade Commission wants to help Nevadans year-around spot, avoid and report scams to keep their money safe. The state's residents lost almost $80 million to financial scams in 2023, according to LendingTree, a loan-finding marketplace. The Silver State also saw the highest per-capita losses due to scams at just above $25.

Reid Tepfer, attorney for the FTC's southwest region office, said they received fraud reports from 2.6 million people last year. The most commonly reported was the "imposter" scam.

"When I say imposter scams, I mean people who are pretending to be your bank's fraud department, the government, maybe a relative in distress or a well-known business, even a IT support expert," he explained.

Tepfer added investment-related scams were the fourth most-reported fraud category, with people losing more than $4.6 billion nationwide last year, the most of any category. Tepfer said if something sounds too good to be true, it likely is, and added a scammer will often demand payment by a money transfer or gift card, and will pressure you to act now. A list of warning signs is online at 'consumer.ftc.gov.'

As technology becomes more advanced, so do the scams. Tepfer said it is a scam when someone tries to get you to move your money to protect it - such as asking you to transfer or withdraw funds from a bank or investment account, and added you should always take the time to do your research before making any financial decision - which is exactly what scammers try to discourage.

"The reason they want to create this false sense of urgency is, they don't want you to be able to take a step back and ,ook at the situation with a clear head and realize that something isn't right." he continued.

Tepfer said if you're concerned or want to inquire about a financial account, make sure to contact the responsible financial institution using the phone number on your financial statement. He says if you are scammed, it is also important to file a report with the FTC. You can do this online at 'ReportFraud.ftc.gov' - or by calling 877-382-4357.

Concert and sports fans in Ohio are expressing growing frustration over rising ticket prices and hidden fees.

In response, Congress is considering the TICKET Act, a bipartisan bill which aims to increase transparency by requiring ticket sellers to display all fees upfront.

Sally Greenberg, executive director of the National Consumers League, highlighted why she feels the issue is so important for consumers.

"People in Ohio understand the frustration and the anger that you feel when you go buy a ticket, it looks like a reasonable cost and, all of a sudden, the fees add 30%, 40%, 50% of the cost," Greenberg explained.

If the TICKET Act passes, ticket vendors will be required to show the total price, including fees, at the beginning of the purchase process. While supporters such as Greenberg see it as a win for consumers, some in the ticketing industry argued the change could disrupt business models.

The rise of online ticket fraud has become another challenge for buyers.

Nick Drewe, CEO of the consumer website WeThrift.com, emphasized the importance of vigilance when purchasing tickets online.

"Our study revealing the states with the highest online shopping fraud reports is a wake-up call for consumers nationwide," Drewe noted. "Navigating the digital marketplace is kind of like exploring a new city; it's exciting but also requiring caution."

As Ohioans await the outcome of the TICKET Act, many hope increased transparency will lead to fairer ticket pricing. Drewe urged consumers to remain cautious while shopping online to avoid becoming victims of fraud.

Groups are warning technology companies could undermine protections on a number of issues with their push for certain provisions in international trade agreements, known as digital trade rules.

Julie Bouanna, executive director of the Washington Fair Trade Coalition, said the policies could limit regulations on Big Tech passed in Washington state.

"The People's Privacy Act, legislation on artificial intelligence oversight and the right to repair," Bouanna outlined. "This is legislation that we see popping up in Washington but also, really, across the country as we're waking up to Big Tech's outsized influence on our everyday lives."

The People's Privacy Act was proposed legislation in Olympia, which would have allowed residents to correct and delete personal information collected on data servers. The tech industry argued trade agreements include exemption provisions for certain policies. It also said overregulation in areas like artificial intelligence could stifle the technology.

Bouanna countered there are legitimate concerns about the effects of including the policies tech companies are pushing for in trade agreements.

"These are trade rules that would essentially allow corporations to sidestep local privacy laws and shield their technology from government oversight," Bouanna explained. "Making it harder to hold them accountable."

Washington state lawmakers have also introduced legislation to increase transparency for algorithm-based decision-making to prevent discrimination from AI and allow for more affordable fixes to products through "right to repair" legislation, which has been adopted in other states like Oregon.

Bouanna noted all the policies could be affected by digital trade rules.


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During National Hispanic American Heritage Month, financial experts are speaking out to help Latino families build wealth.

Federal data show that more than a quarter of Latino consumers in the U.S. have no recent credit history, making them "credit invisible" and unlikely to qualify for a loan.

Jorge Lopez Colunga, business development officer in commercial lending for Self-Help Federal Credit Union in San Francisco, said some Latinos are unaccustomed to using credit.

"In Mexico, Latin America, it's either you pay cash or you just don't buy it because you cannot afford it," Lopez Colunga explained. "Here you have to learn how to use credit and leverage it, because it's crucial in order for them to afford something bigger in the future."

Lopez Colunga pointed out many Latinos are self-employed and may operate on a cash basis. He advised people to keep meticulous records and hire an accountant because accurate business income and tax records will help them qualify for business, home and car loans down the line.

Maria Ramos Cuaya, racial wealth gap coordinator at Self-Help Federal Credit Union, encouraged people to seek financial counseling.

"We always try to connect our members with the proper resources for them to understand how to create a spending plan, how to manage their finances, how to access credit without having to get into so much debt," Ramos Cuaya outlined.

Ramos Cuaya noted many banks and credit unions offer "credit builder" loans to help people establish or build new credit using their own money.