Steve Lear

Fraud doesn’t start with criminals.

It starts with people who were never taught how money actually works.

Minnesota’s recent fraud scandals have sparked understandable outrage and finger-pointing. But if we stop at blame, we will miss the larger lesson. Fraud on this scale is not just a law-enforcement problem or a partisan failure. It is a systems problem—one rooted in decades of underinvestment in personal financial education.

This issue should unite Minnesotans across the political spectrum. Whether you prioritize consumer protection, efficient government, workforce readiness, or personal responsibility, the conclusion is the same: people who do not understand basic personal finance are more vulnerable to bad decisions, manipulation, and fraud.

The cost is real and growing. According to the Minnesota Attorney General’s Office, Minnesotans lose hundreds of millions of dollars each year to scams and financial fraud, impacting families, nonprofits, and public programs alike. These losses erode trust, drain public resources, and damage the social fabric of our state.

While elected officials—regardless of party—are accountable for oversight, no administration alone created this problem. Our education system has long treated personal finance as optional, uneven, or secondary. As a result, too many young people enter adulthood without understanding income, budgeting, contracts, credit, or how to spot financial red flags.

That is why the most effective response to fraud is not only stronger enforcement after harm occurs, but stronger education before harm begins.

We should begin by fully committing to improving personal financial literacy for Minnesotans attending school.

Young people need practical, real-world instruction on:

• How to earn income ethically
• How to manage and track money
• How to spend less than they make
• How to recognize scams, pressure tactics, and financial abuse

This is not about ideology. It is about competence. It is about preparing young adults to function responsibly in a complex economy—and to protect both themselves and the public from preventable harm.

Minnesota has taken important steps by requiring personal finance education for high school graduation. That progress deserves bipartisan credit. But mandates without adequate funding, teacher training, and curriculum support will fall short of their promise.

The next step is clear:

I’m asking the Minnesota Legislature to increase investment in high-quality personal financial education—starting with residents attending an educational institution—and ensure ongoing access for adults across the state.

This is a pro-taxpayer investment. Fraud prevention is far less expensive than fraud cleanup. Every dollar spent helping citizens understand personal finance reduces future losses, enforcement costs, and social damage.

Fraud prevention does not begin in courtrooms or headlines.It begins years earlier—in classrooms, community programs, and practical education.

If we want fewer scandals tomorrow, we must build a more financially capable Minnesota today.