Needed to read PDF's

Avoiding Scams !!!

Recognizing these common signs of a scam could help you avoid one.

Four Signs That It’s a Scam

1. Scammers PRETEND to be from an organization you know.

Scammers often pretend to be contacting you on behalf of the government. They might use a real name, like the FTC, Social Security Administration, IRS, or Medicare, or make up a name that sounds official. Some pretend to be from a business you know, like a utility company, a tech company, or even a charity asking for donations.

They use technology to change the phone number that appears on your caller ID. So the name and number you see might not be real.

2. Scammers say there’s a PROBLEM or a PRIZE.

They might say you’re in trouble with the government. Or you owe money. Or someone in your family had an emergency. Or that there’s a virus on your computer.

Some scammers say there’s a problem with one of your accounts and that you need to verify some information.

Others will lie and say you won money in a lottery or sweepstakes but have to pay a fee to get it.

3. Scammers PRESSURE you to act immediately.

Scammers want you to act before you have time to think. If you’re on the phone, they might tell you not to hang up so you can’t check out their story.

They might threaten to arrest you, sue you, take away your driver’s or business license, or deport you. They might say your computer is about to be corrupted.

4. Scammers tell you to PAY in a specific way.

They often insist that you can only pay by using cryptocurrency, wiring money through a company like MoneyGram or Western Union, using a payment app, or putting money on a gift card and then giving them the numbers on the back of the card.

Some will send you a check (that will later turn out to be fake), then tell you to deposit it and send them money.

How To Avoid a Scam

Block unwanted calls and text messages. Take steps to block unwanted calls and to filter unwanted text messages.

Don’t give your personal or financial information in response to a request that you didn’t expect. Honest organizations won’t call, email, or text to ask for your personal information, like your Social Security, bank account, or credit card numbers.

If you get an email or text message from a company you do business with and you think it’s real, it’s still best not to click on any links. Instead, contact them using a website you know is trustworthy. Or look up their phone number. Don’t call a number they gave you or the number from your caller ID.

Resist the pressure to act immediately. Honest businesses will give you time to make a decision. Anyone who pressures you to pay or give them your personal information is a scammer.

Know how scammers tell you to pay. Never pay someone who insists that you can only pay with cryptocurrency, a wire transfer service like Western Union or MoneyGram, a payment app, or a gift card. And never deposit a check and send money back to someone.

Stop and talk to someone you trust. Before you do anything else, tell someone — a friend, a family member, a neighbor — what happened. Talking about it could help you realize it’s a scam.

Report Scams to the FTC

If you were scammed or think you saw a scam, tell the FTC at ReportFraud.ftc.gov.

How To Recognize and Avoid Phishing Scams

Scammers use email or text messages to trick you into giving them your personal and financial information.
But there are several ways to protect yourself.

How To Recognize Phishing

Scammers use email or text messages to try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could get access to your email, bank, or other accounts. Or they could sell your information to other scammers. Scammers launch thousands of phishing attacks like these every day — and they’re often successful.

Scammers often update their tactics to keep up with the latest news or trends, but here are some common tactics used in phishing emails or text messages:

Phishing emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. You might get an unexpected email or text message that looks like it’s from a company you know or trust, like a bank or a credit card or utility company. Or maybe it’s from an online payment website or app. The message could be from a scammer, who might

say they’ve noticed some suspicious activity or log-in attempts — they haven’t

claim there’s a problem with your account or your payment information — there isn’t

say you need to confirm some personal or financial information — you don’t

include an invoice you don’t recognize — it’s fake

want you to click on a link to make a payment — but the link has malware

say you’re eligible to register for a government refund — it’s a scam

offer a coupon for free stuff — it’s not real

The email has a generic greeting.

The email says your account is on hold because of a billing problem.

The email invites you to click on a link to update your payment details.

While real companies might communicate with you by email, legitimate companies won’t email or text with a link to update your payment information. Phishing emails can often have real consequences for people who give scammers their information, including identity theft. And they might harm the reputation of the companies they’re spoofing.

How To Protect Yourself From Phishing Attacks

Your email spam filters might keep many phishing emails out of your inbox. But scammers are always trying to outsmart spam filters, so extra layers of protection can help. Here are four ways to protect yourself from phishing attacks.

Four Ways To Protect Yourself From Phishing

1. Protect your computer by using security software. Set the software to update automatically so it will deal with any new security threats.

2. Protect your cell phone by setting software to update automatically. These updates could give you critical protection against security threats.

3. Protect your accounts by using multi-factor authentication. Some accounts offer extra security by requiring two or more credentials to log in to your account. This is called multi-factor authentication. The extra credentials you need to log in to your account fall into three categories:

something you know — like a passcode, a PIN, or the answer to a security question.

something you have — like a one-time verification passcode you get by text, email, or from an authenticator app; or a security key

something you are — like a scan of your fingerprint, your retina, or your face

Multi-factor authentication makes it harder for scammers to log in to your accounts if they do get your username and password.

4. Protect your data by backing it up. Back up the data on your computer to an external hard drive or in the cloud. Back up the data on your phone, too.

What To Do if You Suspect a Phishing Attack

If you get an email or a text message that asks you to click on a link or open an attachment, answer this question:

Do I have an account with the company or know the person who contacted me?

If the answer is “No,” it could be a phishing scam. Go back and review the advice in How to recognize phishing and look for signs of a phishing scam. If you see them, report the message and then delete it.

If the answer is “Yes,” contact the company using a phone number or website you know is real — not the information in the email. Attachments and links might install harmful malware.

What To Do if You Responded to a Phishing Email

If you think a scammer has your information, like your Social Security, credit card, or bank account number, go to IdentityTheft.gov. There you’ll see the specific steps to take based on the information that you lost.

If you think you clicked on a link or opened an attachment that downloaded harmful software, update your computer’s security software. Then run a scan and remove anything it identifies as a problem.

How To Report Phishing

If you got a phishing email or text message, report it. The information you give helps fight scammers.

If you got a phishing email, forward it to the Anti-Phishing Working Group at reportphishing@apwg.org.

If you got a phishing text message, forward it to SPAM (7726).

Report the phishing attempt to the FTC at ReportFraud.ftc.gov.

Cybersecurity is key

When cybersecurity is inadequate, it can lead to stolen identity and financial loss. Most scams and scammers have two main goals--to steal your money and your identity. You should know what to look for, how they work, and what to do, so you can protect yourself and your finances.

Maintaining cybersecurity is very important, even for consumers. It is not simply something that concerns large corporations and other businesses. Here are some steps you can take:

Do not open email from people you don’t know. If you are unsure whether an email you received is legitimate, try contacting the sender directly via other means. Do not click on any links in an email unless you are sure it is safe.

Be careful with links and new website addresses. Malicious website addresses may appear almost identical to legitimate sites. Scammers often use a slight variation in spelling or logo to lure you. Malicious links can also come from friends whose email has unknowingly been compromised, so be careful.

Secure your personal information. Before providing any personal information, such as your date of birth, Social Security number, account numbers, and passwords, be sure the website is secure.

Stay informed on the latest cyber threats. Keep yourself up to date on current scams. The Cybersecurity and Infrastructure Security Agency (CISA) can provide you with Alerts.

Use Strong Passwords. Strong passwords are critical to online security.

Keep your software up to date and maintain preventative software programs. Keep all of your software applications up to date on your computers and mobile devices. Install software that provides antivirus, firewall, and email filter services.

Update the operating systems on your electronic devices. Make sure your operating systems (OSs) and applications are up to date on all of your electronic devices. Older and unpatched versions of OSs and software are the target of many hacks.

Here are some trending scams to look out for:

Money Mules

Scammers use people as “money mules” to receive or move money obtained from victims of fraudulent activities. Scammers proactively recruit people to be part of fraudulent activity without their knowing it. If a stranger asks you to open a bank account, or asks for access to your bank account or debit card, be extremely guarded. A scammer may ask you to move money and direct you to deposit funds into your bank account, or ask you to purchase virtual currency or gift cards for someone else’s benefit. In these scenarios, you may be unknowingly hiding someone else’s money for them. Be very cautious if a stranger asks you to receive or forward packages containing money or goods, which may also be part of a similar fraudulent scheme.

If you believe you have engaged in, or contributed to, money mule activities, stop transferring money or merchandise, and stop communicating with the person giving you direction. Then, immediately report your concern to your bank. Your banker can assist you with the appropriate steps toward protecting your bank account and money. You should also report the suspected activity to law enforcement.

Online Dating

Romance scammers, as they are often called, create fake profiles and try to develop relationships with their targeted victims through online dating apps or social networking websites. Once the relationship develops and they have earned your trust, the scammer makes up a story and asks for your money. Be aware that scammers are lurking in these areas, so you can keep yourself and your money safe.

Impostors

Impostor scams are when a scammer pretends to be someone you know or trust to convince you to send them money. They may even claim they are with the FDIC or another government agency. These scams are communicated through emails, phone calls, letters, text messages, faxes, and social media. The messages might ask you to “confirm” or “update” confidential personal financial information, such as bank account numbers. In other cases, the communication might be an offer to help victims of current or previous frauds with an investigation or to recover losses. Some scams request that you file official looking forms, such as insurance claims, or pay taxes on prize winnings. They might claim that you have an unpaid debt and threaten you with a lawsuit or arrest if you don’t pay. Other recent examples include check endorsements, bankruptcy claimant verification forms, stock confirmations, and investment purchases.

The FDIC or other government agencies do not send unsolicited correspondence asking for money or sensitive personal information, and we will never threaten you, or demand that you pay by gift card, wiring money, or digital currency.

Mortgage and Foreclosure Scams

Watch out for scammers who falsely claim to be lenders, loan servicers, financial counselors, or representatives of government agencies who can help with your mortgage. These criminals prey on vulnerable, desperate homeowners.

Foreclosure scams usually come from multiple advertisements stating that a company wants to save you from foreclosure. This scam allows fraudsters to take the equity out of your home. They may even try to evict you from your home and sell it.

Ransomware

One cyber threat often discussed in the news is ransomware. Typically, this scam targets businesses, not individuals. Ransomware is a type of malware created to lock or encrypt files on an electronic device like a smart phone or computer. The sender of the ransomware then demands a ransom in exchange for unlocking or decrypting the information on your electronic device. The scammer typically threatens to publically disclose or sell the compromised information, if the ransom is not paid.

If you believe your business is a victim of a ransomware attack, contact law enforcement immediately. You can also contact a local field office of the Federal Bureau of Investigation (FBI) or U.S. Secret Service (PDF) to report a ransomware attack and ask for assistance.

Maintaining your cybersecurity will help prevent you from being a victim of identity theft and potential financial loss. Staying current on the latest types of scams can help you to identify the risks and learn how avoid them, so you can protect yourself and your finances.

10 steps to avoid scams.

There are thousands of new scams every year, and sometimes, it’s challenging to keep up with all of them!

However, if you can just remember these ten tips, more than likely, you will be able to avoid most scams while protecting yourself and your family.

1. Never send money via gift card or wire transfer to someone you have never met face-to-face. If they ask you to use a wire transfer, a prepaid debit card, or a gift card; those cannot be traced and are as good as cash. Chances are, you won’t see your money again.

2. Avoid clicking on links or opening attachments in unsolicited emails. Links, if clicked, will download malware onto your computer, smartphone, tablet, or whatever electronic device you’re using at the time allowing cyber thieves to steal your identity. Be cautious even with an email that looks familiar; it could be fake. Instead, delete it if looks unfamiliar and block the sender.

3. Don’t believe everything you see. Scammers are great at mimicking official seals, fonts, and other details. Just because a website or email looks official does not mean that it is. Caller ID is commonly faked.

4. Double check your online purchase is secure before checking out. Look for the “HTTPS” in the URL (the extra s is for “secure”) and a small lock icon on the address bar. Better yet, before shopping on the website, make certain you are on the site you intended to visit.

5. Use extreme caution when dealing with anyone you’ve met online. Scammers use dating websites, Craigslist, social media, and many other sites to reach potential targets. They can quickly feel like a friend or even a romantic partner, but that is part of the con for you to trust them.

6. Never share personally identifiable information. with someone who has contacted you unsolicited, whether it’s over the phone, by email, on social media, or even at your front door. This includes banking and credit card information, your birthdate, and Social Security/Social Insurance numbers

7. Resist the pressure to act immediately. Shady actors typically try to make you think something is scarce or a limited-time offer. They want to push victims to make a decision right now before even thinking through it, asking family members, friends, or financial advisors. Sometimes, they’ll advise against contacting anyone and just trusting them. While high-pressure sales tactics are also used by some legitimate businesses, it typically isn’t a good idea to make an important decision quickly.

8. Use secure and traceable transactions. Do not pay by wire transfer, prepaid money card, gift card, or another non-traditional payment method (see number one above). Say no to cash-only deals, high-pressure sales tactics, high upfront payments, overpayments, and handshake deals without a contract. Read all of the small print on the contract and make sure to understand what the terms are.

9. Whenever possible, work with local businesses. Ask that they have proper identification, licensing, and insurance, especially contractors who will be coming into your home or anyone dealing with your money or sensitive information.

10. Be cautious about what you share on social media. Consider only connecting with people you already know. Check the privacy settings on all social media and online accounts. Imposters often get information about their targets from their online interactions and can make themselves sound like a friend or a family member because they know so much about you. Then, update and change passwords to passphrases on a regular basis on all online accounts

How to Protect Yourself from Financial Scams

Are you up on all the latest financial scams? You might be surprised at how sophisticated and convincing scams have become and how many people fall prey to scammers.

Scenario 1: The phone rings at 7 p.m. The caller says he is from a collections agency, and you need to pay your outstanding debt now or you will be arrested. What should you do?

Scenario 2: You receive a call saying your granddaughter was arrested for using her iPhone while driving. The caller pressures you to pay to keep her out of jail, and then you hear her voice on the line telling you to wire money. Should you do it?

Scenario 3: You receive a text message from your credit union saying there has been a suspicious Zelle transfer to someone you don’t know. It says to click the link to secure your account. Should you click it?

Scams are common, costly and convincing

All three of these scenarios are scams. New technologies and scamming methods make it more difficult to recognize a financial scam, as recent statistics show.

Americans lost more than $10 billion to financial scams last year, more money than ever before. According to the Federal Trade Commission (FTC), one in four people reported losing money to scams in 2023. The median loss was $500 per person.

Email was the most common form of scam, followed by phone calls and then text messages. Scammers target people of all ages, income levels, education levels, gender and race.

While people often think older adults are more susceptible to scams, that isn’t always the case. Generation Z'ers born between 1995 and 2012 are falling for online scams three times more often than Baby Boomers.

Younger adults who grew up with technology use it and trust it more than tech-suspicious Boomers. Gen Z'ers also have more of their finances online. This makes it easy for con artists to access accounts and swindle money.

Older generations have not dodged scamming, though. Despite Gen X’s and Boomers’ careful use of technology, new AI technology is luring them into scams.

So, who is “scam vulnerable”?

For most scams to work, victims must participate in their own victimization, either directly (e.g., disclosing personal information, sending money) or indirectly (failing to report the scam). This means that in many cases, potential victims have the power to prevent being victimized.

Financial scammers weave an intricate, panic-inducing story, build urgency and isolate victims from trusted friends and family. If you engage, the scammers’ coercion is costly.

The latest financial scams

Stay up-to-date on the latest financial scams to avoid falling victim to one.

Imposter scams

The most commonly reported scams costing a reported $2.7 billion in 2023 are imposter scams. These scams impersonate a person (family member in distress), trusted institution (bank’s fraud department, business or tech support), government agency or sweepstakes to defraud a victim.

Artificial intelligence has made imposter scams more convincing through voice cloning and deep fakes, like the second scenario in the introduction of this article. Scammers can use deep fakes to create fake celebrity endorsements leading to false websites, fake romances offering investment “tips” or sextortion schemes.

Investment scams

Investment scams ring in as the most costly scam, with consumers losing more than $4.6 billion in 2023. This is up nearly a quarter more than in 2022.

Many investment scams are shared through social media platforms. They look quick and easy, claim to have low risk and offer high returns. Testimonials from paid actors say they have benefited significantly, on spotting investment scams.

As with other financial scams, investment scammers urge you to “act now, so you don’t miss out.” They may ask you to send investment money in advance and continue contributing as your portfolio grows until the day it disappears.

Debt collection scams

Like in the first scenario presented in this article, debt collection calls can strike fear in the heart of even the most stalwart financial person. Debt collection scammers falsely claim that you owe money and need to pay it immediately or they will tell others about your debt or arrest you.

While it can be difficult to tell the difference between a legitimate debt collector and a scammer, there are a few things that give them away.

According to the Consumer Financial Protection Bureau (CFPB), legitimate debt collectors must send a formal, written notice within five days of the first collections call.

As part of the Fair Debt Collection Practices Act (FDCPA), real debt collectors cannot threaten to tell others about your debts. Threatening arrest is illegal, so real collection agencies will never make that threat. Nor will they threaten to have you fired or take your driver’s license.

Student loan scams

As more and more student loan forgiveness programs come out, scammers have taken notice. The changes have made people open to listening to scammers or curious to click email phishing links that go to fake websites. Both seek to steal personal information like social security numbers or bank account information.

Scammers may also try to charge large application fees for student loan forgiveness relief. There is no cost to apply for these programs. Check the Department of Education website for the most current information.

Zelle scams

Scams involving peer-to-peer payment, like Zelle and Venmo, often steal money by impersonation. They may ask for advance payment or fees or phishing for your bank credentials. Peer-to-peer payment apps are an easy way to transfer money, but they do not offer the same protection as credit cards.

These financial scams are very convincing, They tell you to press numbers, and then large sums withdraw from your account.

The third scenario at the beginning of the article is an example of a Zelle phishing scam. The scammer texted a link to install malware or a virus on the user’s phone, enabling them to gain the user’s Zelle credentials, bank account information and other personal information.

Romance scams

Scams from presumed romantic interests accounted for $1.3 billion in losses in 2022. Scammers pretend to be interested in pursuing a romantic relationship, working to build your trust. Then they ask you to purchase something for them or send money, which they pocket or fraudulently have removed from your account. They may also begin offering investment tips on fake cryptocurrency accounts or recommending fake charities.

Phishing emails and text messages

These scams seek to install malware to obtain your personal information or trick you into transferring your money to “protect” it.

Fake online shopping websites – Fake websites offer low prices to trick you into sharing your credit card information. If it sounds too good to be true, always double-check.

Sweepstakes, giveaways or prize scams – These financial scams may ask for your bank account information or for you to pay a deposit to get the prize.

Employment scams – Fake employers may conduct multiple interviews, collect your personal information, and then ask you to purchase equipment or training materials. Others may ask you to receive and forward money or packages. These are often illegal operations and open you to legal liability.

Warning signs of a scam

Identifying a financial scam can be as simple as finding a few clues. If you receive a phone call or email that seems odd, be suspicious. Even if you know the person, their email address or phone number could have been spoofed. Verify the following to help identify scams:

Are they who they say they are? Verify the person or organization is who they say they are by hanging up the phone. Call a mutual friend or colleague to verify details. Call or email the organization directly via the information on their website.

Why are they calling? Is it a problem, like suspicious activity on your account or unpaid taxes? A prize? These should raise immediate red flags. Stop the conversation and contact the organization or a trusted contact before proceeding.

What is their tone and timeframe? If they are using high-pressure sales tactics, pushing an urgent timeframe or threatening you, it is probably a scam.

What do they want you to do? If they want you to give out personal information, send a wire transfer or provide verification codes, it’s probably a scam.

Is their message causing you to feel big emotions like fear, anxiety, worry, panic or excitement? This should raise a red flag. If the caller or contact says you cannot get off the line without losing the opportunity or without causing harm, then it is likely a scam.

Are they trying to get you to move your money to protect it? It is a scam.

Are they trying to keep you on the line and listening to their story by transferring you to people in other departments or agencies? This is a red flag. Hang up and contact the organization directly. It is most likely a scam.

Did they tell you not to tell anyone else or keep it a secret? It is a scam.

If you ask who they are, do they share their identity? Just because they share their identity does not mean they are to be trusted. They could be impersonating someone else. Verify their identity and the situation when you get off the phone or out of the chat to ensure it is not a scam.

Do they threaten to reveal your debt to others or have you arrested for your debt? It is a scam.

How to avoid financial scams

Avoiding a financial scam requires diligence to protect yourself and your loved ones. Below are some tips to help.

Keep an eye on your credit score. If your credit score changes for no reason you can think of, it could be due to a hard pull instigated by someone trying to open an account in your name. Monitoring your credit score enables you to pick up fraudulent activity before it gets out of hand. Check your credit score for free.

If you get a call from someone you do not know, don’t answer it, If you answer a call from an unknown number, be aware of the language the phone caller uses. Do they call you the wrong name? Are they using badge numbers and case numbers? Hang up the phone and call someone who can verify the call, like a family member, your financial institution or accountant.

Do not share your personal information, especially with anyone who emails or calls you asking for it.

Never click links in texts, emails or pop-up ads. If you are concerned, go to the organization’s website and contact them through their contact page. If you have a virus on your computer, real technical support help will not appear in a pop-up ad.

Monitor your bank account, online accounts and credit score regularly. Watch your credit card bills carefully.

Set up a family password or challenge question that you can ask to thwart AI scams.

Lock down your social media accounts to “Only Friends” and be careful who you accept as a friend. Scammers only need 15 seconds of your voice or photos from social media accounts to create deep fakes and attempt to extort you and/or your loved ones.

Use strong, 12+ digit passwords with letters, numbers and symbols and set up multi-factor authentication (MFA).

Do not share your passwords, and never give out your PIN or verification codes to someone who calls to ask for it.

Research websites to ensure they are credible and have good reviews before inputting personal or credit card information.

Watch out for unusual texts about suspicious activity on your account from Zelle, Venmo or other peer-to-peer payment apps.

Never refund or forward an overpayment.

Keep your computer updated and use antivirus software.

How to report a financial scam

Have you fallen for a financial scam? There may be a way to get your money back and prevent the scammers from hurting others.

The first step in reporting a financial scam is to try to get your money back. Contact your bank or the company you used to send the payment to try to stop or reverse the transaction.

Second, secure your accounts. Reset your passwords to new, strong passwords.

Next, report scams or suspected fraud to the Federal Trade Commission. Follow the steps outlined here by the FTC for consumers who believe they have been scammed.

Once the information was entered, the FTC also provided helpful links for other related financial scams, spam and identity theft-related information.

You can also file a complaint with the Consumer Financial Protection Bureau and submit a complaint to your State Attorney General’s office.

If someone tried to steal your identity, report the identity theft to the FTC here. They will create a personalized recovery plan for you.

Furthermore, protect your credit by adding fraud alerts to your credit reports. This lets companies know you have been the victim of fraud and/or identity theft.

Finally, consider other ways to protect yourself, such as signing up for identity protection services like Aura, IdentityForce, Identity Guard or LifeLock.

File a Complaint

When you get slammed or crammed, contact:

Missouri Attorney General’s Office
File a complaint or call the Consumer Protection Hotline: 1-800-392-8222

Contact the Federal Communications Commission
The FCC tracks slamming and cramming complaints for possible future regulatory action.

Contact the Federal Trade Commission
The Federal Trade Commission, the nation’s consumer protection agency, collects complaints about companies, business practices, identity theft, and episodes of violence in the media.

Find me on Social Media

Don't forget to bookmark me to see updates..