SCAM loss reports total $5.8 billion dollars last year
Overwhelmed by all the scam calls, emails and pop-up offers? Welcome to the club. Fraud is a thriving industry—the Federal Trade Commission received loss reports totaling $5.8 billion dollars last year. With help from Consumer Reports, here are some of the most common types of scams, and how to avoid them.
- You owe us money! “This is the [fill in the blank: IRS, Social Security, ABC Bank, XYZ Police department] and we’ve been trying to reach you about a [fill in the blank: warrant for your arrest, cancellation of your Social Security, freezing of your bank account.] Call us immediately!” If you talk to them, they’ll pressure you to pay immediately to prevent terrible things from happening. They’ll ask you to pay by unconventional means, like buying gift cards and reading the card numbers to them over the phone.
NOPE: Government agencies never call consumers about money owed or threaten arrest. No legitimate business asks for payment in gift cards—ever. Just hang up.
- What a great deal! You’re scrolling through Facebook or Insta and you see an ad for something you want. You’ve never heard of the company, and you can’t find their address, phone number or refund policy, but the price is amazing, so why not? You pay with your credit card or Venmo…and the merchandise never arrives, or when it does it’s poor quality or some cheap thing you didn’t order.
NOPE: Don’t click…
