Department of Insurance, Securities and Banking: Press Release

Washington, DC - The District of Columbia Department of Insurance and Securities Regulation (DISR), announced its support of National Fraud Awareness Week (NFAW), August 4-10, 2002. NFAW, organized by The Association of Certified Fraud Examiners, is a time set aside to raise awareness about the impact of fraud and white-collar crime upon our society. DISR’s Insurance and Securities Fraud Bureau along with other public and private sector supporters, will utilize National Fraud Awareness Week as a way to educate consumers and business about how to detect, report and deter fraud.

Fraud and abuse cost US organizations over $600 billion annually, and identity theft has become on of the fastest growing crimes in America. “Fraud and white-collar crime are often not perceived as ‘true’ criminal acts because of the typical absence of violence”, said DISR Commissioner Lawrence H. Mirel. “However, individuals and businesses suffer in terms of financial loss. In addition, because insurance and securities are complex products, consumers are particularly susceptible to fraud from bad actors in the community. DISR is proud to support this year’s National Fraud Awareness Week”.

DISR’s Insurance & Securities Fraud Bureau is your resource for preventing and reporting fraud. Contact them at 202.727.8000 for more information or to file an anonymous report. You may also file a fraud report via DISR’s website.

For more information about National Fraud Awareness Week, visit the NFAW website. The site provides both businesses and consumers with a list of helpful resources on topics ranging from identity theft and credit card fraud to insurance fraud and telemarketing scams. Visitors to the site can take an interactive Fraud IQ Test to determine how much, or how little, they may already know about fraud.

The DC Department of Insurance and Securities Regulation (DISR) has two missions, (1) to provide fair, efficient and fast regulatory supervision of the insurance and securities businesses for the protection of the people of the District of Columbia, and (2) to create conditions that will retain and attract national and international insurance and other financial businesses to the District.