HARRISBURG — The Pennsylvania Department of Banking and Securities recently released their December quarterly newsletter full of financial advice moving into the new year — including tips on making money and protecting the money already earned.

When the New Year rolls around it often comes with a redoubling of efforts to make better choices concerning finances, health and/or habits.

For individuals who have made the choice, or are simply thinking about focusing on their financial efforts this new year, the Department of Banking and Securities encourages them to consider the following four resolutions this new year:

Financial scams have become a lucrative way for criminals to make money: In 2021 alone, the Federal Trade Commission reported $5.9 billion in losses as a result of fraud — which is a $2.4 billion increase over 2020. In the United States alone, one in ten adults will fall victim to a scam or fraud each year — not to mention the 1.3 million children who will have their identities stolen yearly. Although these facts and statistics can be intimidating there are ways to protect against becoming a victim in 2023.

The PA Department of Banking and Securities released seven recommendations within their December newsletter of popular tricks that schemers and scammers are likely to try to use to pull off a financial scam.

The department warns that individuals stay vigilant against:

According to the PA Department of Banking and Securities, by following the above tips an individual can help protect themselves and their money from scammers all year long. Always be cautious and most importantly, trust your instincts — if something seems too good to be true, it probably is.

For more information, visit dobs.pa.gov or call (800) 722-2657.