Can you hear the alarm? Fraud has become a hot topic. Unfortunately, too many of us are not heeding the warning. Trusting people are being taken advantage of every day. Fraudsters can dupe anyone of any age, but older people are more often targeted.
Falling victim to a scam has nothing to do with intelligence. To protect yourself, you must vigilantly think through every action. Here are a few of the scams we are seeing.
Auction sites – You come across a website or receive an email promoting deeply discounted items being auctioned for unbelievable prices. “You think to yourself – this looks like a legitimate site,” but is it? Fraudsters are waiting for you to bid on items to reel you in. Then they snag you by letting you know you are the winner. Finally, they tell you they will ship the item, request that you wire the money, and provide you with wire instructions. Once you wire them the money, it’s gone for good. You’ll never receive the item you thought you had purchased.
Wire fraud is widely perpetrated. Once the money leaves your bank, it is nearly impossible for the bank or credit union to recover. When someone requests a wire, do some due diligence. Make sure you read the information carefully before sending any money.
Email – Scammers are greedily waiting for you to click on a link or open an attachment. They may even have hacked your email and are watching your email history, learning your habits, and looking for an opportunity to trick you. They are experts at deception and making you believe they are legitimate when they are anything but.
When you click on a malicious link or open a rogue attachment, you allow scammers into your computer, where they can download malware, gather login information, and lock you out. Then they encrypt your files and demand a ransom. Unfortunately, even after paying the demanded price, they are not likely to unlock your computer.
If you receive an email with an attachment you are not expecting, do not open it. If it is from someone you know, reach out to them to verify they sent it to you. If the email references a company that you do business with, such as a utility company, bank, or phone carrier, call them directly or access your account online by going directly to their website and not clicking the link.
Phone calls and Text Messages – Be cautious of unsolicited calls or texts. Use the block number and report within your cell phone if available. Do not give any information over the phone or via text. Do not reply to text messages that appear misdirected or have the wrong number—block them.
Online and Social Media Advertisements – Research any websites or social media advertisements before you purchase to ensure the company or the product is legitimate.
Pop-up Messages – A message appears on your computer indicating there is a problem with the software and requesting that you click a link or call a number. Beware! Clicking that link or calling that number is the first step to engaging with scammers. When calling, the person on the other end will seem trustworthy and will say things to build rapport and bring down your guard. Telling you they can fix the problem remotely; they will gain access to your computer and immediately lock you out. Now they look for banking information, passwords, and other personal information. Once they have your information, they can easily impersonate you and even wire money from your bank account.
If you believe there may be a problem with your computer software, contact the software provider directly. Never call the number as prompted on the screen. You could also contact a local computer repair company that can help you identify any problems.
Falling victim to a scam can be costly. Be vigilant and take the necessary steps to protect your identity and hard-earned money. A great resource to stay up-to-date on the latest scams or file a complaint is the FBI’s Internet Crime Complaint Center website, www.IC3.gov. I have linked here an FBI pamphlet regarding Elder Fraud. Feel free to share it with your family and friends.
