First Presidency warns against ‘affinity fraud’

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The First Presidency has released a statement warning of financial scams:

In the letter being read in churches, the First Presidency says “reports of fraud schemes and unwise investments prompt us to again counsel members with respect to prudence in managing one’s financial affairs.” . . .

Here in Utah, authorities said a majority of the fraud cases they encounter involve some level of “affinity fraud,” which is an investment scam that preys upon members of a specific group — such as a religious or ethnic community.