"Armed with the right knowledge, almost anyone can recognize a fraudulent scheme and make the right decision to stay away."

"Train employees on an ongoing basis."

"The FDIC encourages financial institutions, government agencies, consumer organizations, educators, the media, and anyone else to help make the tips and information in FDIC Consumer News widely available."

"FinCEN strongly supports efforts to raise awareness of elder abuse -particularly financial exploitation of the elderly."

"Consumer education is critical...Publish details of localized scams via online banking websites. Scam alerts can be powerful tools in educating your client base."

"Financial institutions should implement an enhanced customer education to increase awareness of the fraud risk and effective techniques customers can use to mitigate the risk."

"Develop an awareness framework that challenges, educates and empowers your customers and employees to be part of the human firewall."

"Customer education is only effective if it is continuous. It's not one and done."

"One easy way to curb fraud is through more education and awareness."

"Employee and customer education is the key...the problem many institutions face, however, relates to lacking resources and dedicated support for truly integrated educational campaigns and programs."

"Repeated exposure to fraud awareness education reduces susceptibility to scams."

The Financial Industry Regulatory Authority (FINRA) recently concluded a study on the effectiveness of fraud prevention education. In the April 2021 study, the FINRA Foundation proved that repeated exposure to fraud awareness education reduces susceptibility to scams.

"Train employees on an ongoing basis."