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Common Types of Scams & Fraud

Scammers are ingenious and are constantly trying to find ways to steal your money. To best protect yourself, you need to know what to look for. Learn how to protect yourself, what to watch for and some steps to take by reviewing the common types of fraud and scams below.

“Grandparent” Scams

If you get a call from someone that sounds like a grandchild (or family member), asking you to provide money via wire transfer, gift cards or transfer funds due to being in harm (accident – tow truck, prison, hospital, stranded in another state/country, etc.), it could be a scam. Reminder: There are tools out that there fraudsters can purchase for low to no cost that can alter voices and caller ID can be faked. We always need to stop and think, before we act on the request. Especially if the request is out of the norm for this loved one.

Imposter Scams

Imposters try to convince you to send money by pretending to be someone you know or trust (local or state authorities, federal government agencies {FBI, IRS} or charity organizations. Reminder: Caller ID’s can be faked. Always call the organization that you know is the phone number (not the one you received the call on), inquire if that employee is employed there to determine if the call was legitimate before providing any money.

Romance Scams

Usually is established online through dating sites where fraudsters will take the time to get to know you to establish trust prior to asking you to send funds to them and or gain access to your online banking and or financial information by establishing trust. Remember: Don’t share sensitive personal identifiable information (date of birth, social security number, bank account numbers) with those not in need of the information.

Random Text Scams

If you received a random text from Amazon, USPS, UPS, Costco, Home Depot, etc. informing you that you have an update to your order, unclaimed package, account alert or even to take a survey for a chance for a free gift. Remember: Always go to the source, you know and have, (Amazon, Costco app) to log in and confirm the request. Don’t click on the link in the text.

Social Media

Don’t over share on social media. Don’t play the quizzes and games, this alludes to oversharing of your personal information which then gives fraudsters the ability to hack your passwords and/or security questions that you have set up for security measures.