June 13th, 2025 Local News
Jefferson City, Mo. (KFMO) - As residents across Missouri continue to recover from multiple rounds of severe spring weather, the Missouri Department of Commerce and Insurance (DCI) is urging consumers to take steps to safeguard their financial health and remain alert for disaster-related fraud.
Following a storm, maintaining contact with your mortgage and auto lenders is critical, even if your property has been damaged or destroyed. Missouri Division of Finance Commissioner Mick Campbell stresses the importance of continuing loan payments during the insurance claims process.
“Even when collateral securing a loan has been damaged or destroyed, make every effort possible to continue regular loan payments during the claims process,” said Campbell. “This will help you avoid late charges, delinquent loan status and damage to your credit score prior to claim proceeds being issued.”
Residents should inform lenders of any changes in contact information and notify them of damages as soon as possible. Open and proactive communication may help lenders offer temporary options or guidance based on your situation.
Disaster recovery often brings a wave of fraudulent activity. DCI officials say scammers target individuals during times of crisis, using pressure tactics and false promises. Emmett Bryson, Acting Director of Missouri’s Division of Credit Unions, emphasized the need to remain aware.
“Unfortunately, having supplies and financial resources to withstand disasters is just not enough,” Bryson said. “Being knowledgeable or aware of the signs of potential fraudsters may protect you from the risk of experiencing financial damages that could exceed the damage created by the natural disaster itself.”
Common scams after disasters include:
- Contractor Fraud – Misleading contractors who may claim to be government-affiliated but deliver poor or no repairs.
- Price Gouging – Inflated pricing for essential goods or services.
- Forgery and Identity Theft – Scammers using disaster conditions to steal personal information.
- Charity Fraud – Impostors posing as representatives of well-known aid organizations to solicit fake donations.
Anyone who suspects they’ve been a victim of fraud should act quickly to secure their accounts and document the incident. Fraud can be reported to the National Center for Disaster Fraud Hotline at 866-720-5721, which is available 24/7, or online at justice.gov/disaster-fraud.
Consumers with questions related to banking, mortgage lending or financial services can reach out to:
Division of Finance: 573-751-3242 | finance@dof.mo.gov
Division of Credit Unions: 573-751-3419 | cu@cu.mo.gov
The Missouri DCI oversees over 80 state-chartered credit unions and 192 state-chartered banks, and plays a key role in protecting consumers across the state’s financial and insurance sectors. For more information, visit dci.mo.gov.
