Fraud is Fraud. Why at GeeGoals, we take Financial Integrity very seriously.
- Yosmel Gutierrez
- May 29
- 3 min read
Three weeks ago, something happened in my neighborhood that made this issue hit home in a whole new way.
All the community mailboxes were broken into, and not long after, someone stole my wife’s information and used it to open a pre-approved credit card.
This is what it looks like to be notified by the USPS that your info was stolen:
Over $3,000 were charged before we even knew what hit us. Mostly food items and essentials. It was fast, messy, and frustrating.
I get it, these are tough times for a lot of people, and everyone deals with financial stress in all kinds of ways. Some folks dig in and work harder. Others? They resort to fraud: mail theft, identity theft, and even creating fake financial documents to manipulate the system Some are more clever and use their influence to scam their followers through Pump and Dumb schemes.
But here’s the truth: Fraud is fraud. Period.
The Cost of Fraud: It's Bigger than you Think.
Financial fraud isn’t just a personal issue. It’s a systemic threat to small businesses, financial institutions, and our economy at large.
According to the Association of Certified Fraud Examiners (ACFE), Organizations lose an estimated 5% of revenue to fraud annually.
In 2024, the FTC reported over 12 billion lost to fraud, a 25% increase from the previous year.
For small businesses, the median loss from fraud is $150,000, and they are disproportionately targeted because they often lack strong internal controls.
Which Industries are more victim to financial fraud? Mining, Wholesale Trade, Manufacturing, Construction reaching median losses as high as $550,000.
Identity theft from mail and credit card fraud continues to rise, with 43% of reported identity thefts in 2022 tied to credit card fraud.
And since we are dealing with a lot of economic uncertainty. We predict that unemployment will continue to go up in the coming years. We will see higher fraudulent activity coming from:
Investment scams( like the ones in the crypto community)
Imposter Scams (people impersonating government employees, your banker or any other institution)
and one that is Showing Major growth in recent years, mainly due to job instability among other issues is:
Job and Employment Agency scams where the number of reports tripled from 2020 to 2024, and the amount of consumers reported losing to these scams jumped from $90M to over 500 M.
Here is a breakdown of the most common financial fraud activities.
An example of a Job and Employment Agency Scam:
When fraud happens, trust erodes. Processes slow down. Costs go up for EVERYONE.
Why This Matters to GeeGoals and You? Because we deeply care about Financial Integrity and Trust.
At GeeGoals, we exist to support honest, hardworking business owners by helping them access capital, build strong relationships with banks, and grow through financial integrity.
When someone commits fraud, it’s not just the target who suffers:
It delays the process for honest business owners who are trying to get loans, open accounts, or get their questions answered.
It hurts our vendors, lenders, bankers, underwriters, and compliance teams, who now have to waste time on fake paperwork and false leads.
And the most important of them all to our company: It damages the TRUST that we work so hard to earned from small business owners and our financial vendors have placed in us and in our ecosystem.
That’s why we stand firmly behind our values:
👉 Transparency
👉 Integrity
👉 Ethics
👉 Zero tolerance for fraud
A Message to Those Considering Financial Fraud:
If you think you can impersonate someone, manipulate statements, or game the system, you need to hear this:
There’s a day coming when that won’t work anymore.
You’ll get flagged at one institution, and that alert will follow you to the next.
Eventually, you won’t just be blocked here in the U.S. Your actions will be known globally. Financial institutions that support small businesses are getting smarter, more connected, and more protective of their communities, and so are We.
A Promise to the Honest Business Owners
To every business owner trying to do things the right way, GeeGoals sees you. We built GeeGoals for you.
Our platform connects you to trusted, industry-specific bankers, helps you access capital responsibly, and keeps your data protected from bad actors.
We are committed to giving you a space where your efforts aren’t overshadowed by fraud.
Final Word:
To the fraudsters: Consider this your warning.
To the hard working Small Businesses: The builders, the honest strivers, we’ve got your back.
Visit www.GeeGoals.com and Connect Now with bankers who care about your business, not just your numbers.
Comments