Identity thieves are equal opportunity offenders but a recent study shows Black Americans tend to lose more money when they fall victim to a scam.
Banks said the information and tools to fight back are not getting to Black communities, which is why he believes so many people fall for scams that either take money, personal information or both.Derrick Banks, owner of Freshly Faded Barber Shop, discusses the impact of identity crimes on Black communities.by the Identity Theft Resource Center and the Black Researchers Collective seem to support Banks’ opinion as it examines the impact of identity crimes on Black communities across the nation.
According to the survey within the report, Black victims lose more money than the ITRC’s recent finding of complaints they surveyed.26% said they lose between $1,000 and $4,999 compared to 9% of ITRC’s overall complaints.“That is a huge percentage of their annual income that is going to a thief,” said Eva Velasquez, president and chief executive of the ITRC. She added that the study also showed that only 50% of Black victims report their losses to law enforcement.
Smith agreed as he got ready to go home. “I think they should put more boots on the ground and put a face in the community,” he said. Banks nodded and added, “They’re only going to take advantage of us for so long before we flip the whole game up which is really dope.”
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