Fraud & Security Blog

Top 5 Scams of 2024

JANUARY 2025 –

Fraud continues to rise, with one in 10 adults in the U.S. falling victim to scams every year. According to the Federal Trade Commission (FTC), fraud cases increased by 25% in 2023.

Here are the top five scams to watch out for:

1. Online Purchase Scams Websites like Craigslist, eBay, and other online purchase websites that directly connect sellers and buyers. Scammers
   list items, collect payment from buyers, and then never ship the goods. Conversely, scammers will sometimes pay for items with a bogus check in order to ask for a refund for “accidentally” overpaying.
2. Fake Tech Support Scams Ironically, tech support scams typically take the form of an advertisement, email, or pop-up that warns users their computer may be infected with a bug or virus. Once users engage, scammers then pretend to be an IT professional and badger victims to hand over money in exchange for phony tech support.
3. Employment Scams Fraudsters pose as potential employers and fool victims into thinking they’re being offered a job or considered for a position. From there, they trick victims into sending money to be spent on “training” or “equipment,” or carry out a fake check scam using a bogus paycheck.
4. Fake Checks and Money Orders This convoluted scheme relies on scammers sending victims a fake check, getting them to deposit it, and then asking for some of the “money” back via wire transfer due to a supposed overpayment — hoping that banks don’t notice the check is fake until it’s too late.
5. Imposter Scams Scammers often pretended to be calling from the Social Security, IRS or a well-known business, a romantic interest, or a family member with an emergency. When people lost money, they most frequently reported paying scammers with a gift card or by wiring them money.

If you encounter a scam, report it to ftc.gov/complaint. Share this information with friends and family to help protect your community. For more tips, visit ftc.gov/imposters and ftc.gov/giftcards
Source: www..consumer.ftc.gov

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Protect Yourself from Phishing Attacks

OCTOBER 2024 –

One of the biggest personal finance threats—phishing attacks. These scams use fake emails, texts, or websites to trick you into revealing sensitive information like account numbers or passwords.

Falling for phishing can lead to identity theft and serious financial loss. To protect yourself, remember:
Stop, Look, Think. Here’s what to watch out for:

Mysterious Messages: Phishing emails may appear to come from someone you trust, like your bank or a service provider. But often, the sender’s email doesn’t match the real source. Always verify the sender before acting.

Urgent Demands: Many phishing emails are designed to create a sense of urgency. They may claim there’s been suspicious activity on your account or that you need to verify your information immediately. This pressure is meant to get you to react without thinking. Take a moment to pause and ask yourself: does this request make sense?

Sneaky Links: Phishing messages often ask you to click a link or download an attachment, but these can be dangerous. Clicking on them may give criminals access to your private information. Never click on unexpected links or attachments. Instead, go directly to the official website by typing the address into your browser.

Before acting on any suspicious message, take a moment to assess if it seems out of place or strange. If it looks like a phishing attempt, don’t interact. Delete the message immediately!

By staying vigilant and following these tips, you can help protect yourself and your personal finances from phishing threats. For more tips on spotting phishing attacks, visit www.BanksNeverAskThat.com and take the quiz to see how savvy you are!