CT Departments Warn of Scams During Financial Literacy Month

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Why is money called dough? Because everyone kneads it. Even Scammers.

Departments of Consumer Protection, Banking remind the public to utilize financial resources, stay up to date with potential threats to your wallet during financial literacy month

4/14/2026 HARTFORD – During Financial Literacy Month, the Department of Consumer Protection (DCP) and the Department of Banking (DOB) are reminding the public to take advantage of resources that help create informed decisions.

As April marks the end of tax season, consumers are reviewing their past spending habits and setting financial goals for the upcoming year. This Financial Literacy Month, consumers are encouraged to use free resources, such as budgeting tools and debt payoff calculators, to help plan for their future.

“We know you might be losing interest – figuratively and financially,” said DCP Commissioner Bryan T. Cafferelli. “Financial Literacy Month reminds us of the importance of financial education, which can strengthen your own financial security, and help you avoid identity theft and other financial scams. Financial literacy isn’t just about understanding your personal finances, it’s also about protecting yourself from scammers and safeguarding your family’s future.”

"Financial literacy is a lifelong skill, and when we invest in education, we invest in the success of our communities. This month reinforces how essential it is to make financial knowledge accessible to all,” said Banking Commissioner Jorge Perez.

Consumers are encouraged to:

• Create a detailed budget: Consumers should thoroughly review their spending habits in recent months. There are several free budget worksheets that can help consumers establish a budget and outline necessities, desires, and saving goals.
• Educate about threats to wallet: As scams become more sophisticated, there are numerous attempts to steal your money and banking information. Staying up to date with scam trends can help you spot and avoid scams.
• Examine your credit card statements: Read your credit card statements as soon as you receive them. If there are unauthorized charges or something looks off, contact your bank immediately.
• Obtain your free annual credit report: There are three major credit reporting agencies, Equifax, Experian, and TransUnion. Reviewing your credit report can help detect early signs of identity theft. An accurate report impacts several financial outcomes such as mortgage rates and rent applications.
• Build an emergency fund: Establishing an emergency fund can help consumers prepare for a major or minor financial loss. Storing money away each month can help you in case of an emergency.
• Sign up for alerts: Many banks will offer real-time text or email notifications related to your account. This includes large or unusual charges, low balance alerts, and sign-in attempts from a different device. Additional Resources

Consumers of all ages can visit MyMoney.gov for financial tips and resources for retirement planning and budgeting. The Financial Literacy and Education Commission (FLEC) provides advice for five financial principles: earn, save, protect, spend, and borrow.

For specialized advice for life events such as having a child, home ownership, or higher education, consumers may visit the website’s Life Events page.

To test your financial knowledge, the Federal Deposit Insurance Corporation (FDIC) provides 14 interactive games about topics such as spending, saving, and investing.

For information about identity theft and ways to protect yourself, consumers can visit DCP’s website.

Additional tips on money management are available on Banking’s website.

Media Contact: Consumer Protection
Kaitlyn Krasselt
kaitlyn.krasselt@ct.gov (860) 713-6019 (office)
(860) 377-0246 (cell)

Banking
Matt Smith
matthew.smith@ct.gov 203-996-1241 (cell)