Be Vigilant: Scams Are on the Rise

If it feels like every other headline involves some new scheme to part people from their money, you’re not imagining things. American consumers lost more than $10 billion to fraud in 2023, and that’s just what was reported. Impostor scams are the leading type —when someone pretends to be your bank, a government agency, or another trusted organization. That category alone accounted for nearly $2.7 billion in losses last year.

It’s not just “other people” getting caught. A Pew Research Center study found that 73% of all U.S. adults have faced something like credit card fraud, ransomware, or online shopping scams. And while it’s tempting to believe older adults are the main targets, people of all ages get taken in.

Your phone is the golden ticket for scammers

Here’s a sobering thought: your cell phone isn’t just your life line; it is a scammer’s entry point into your most private information. If you get a text or call asking for a “security code” you didn’t request, stop. Don’t read it back. Don’t type it anywhere. That code is usually the key to resetting a password and opening the door to your accounts.

Another variable to factor in: fraudsters love to create urgency. Tight deadlines or “act now or else” scenarios – they’re all designed to make you act before you think. Add unusual payment requests like cryptocurrency, gift cards, or bank wires, and you’ve got classic red flags waving right in your face.

Here are the five of the most common scams and how you can sidestep them.

1.      Impostor Scams: The Familiar Voice That Isn’t

It starts innocently enough. Your phone rings. Caller ID shows your bank. The voice on the line sounds professional. They tell you there’s suspicious activity on your account. Then they offer to “help” by sending you a verification code.

The catch? That code isn’t verifying you—it’s giving them the keys to your account.

How to guard yourself:

• Hang up and contact your bank using the number on their official website.

• Never give out a code unless you initiate the call.

• Never type a code into a site or text unless you’re logging into a verified app or website.

• Remember: even if they can’t see your screen, scammers can sometimes detect keypad tones.

2.      Social Media & Investment Scams: Too Good to Be True

Your feed is full of tempting offers—discounts on luxury goods, investment tips from celebrities, and cryptocurrency deals that promise to double your money overnight.

Sometimes the products never arrive. Sometimes the “celebrity” account is hacked. Either way, you’re left with nothing but regret.

What to do:

• Treat unsolicited investment offers with skepticism.

• Look up companies directly instead of clicking on ads.

• Search for [Company Name] + scam” before you buy or invest.

• Avoid anyone who moves the conversation to another platform too quickly.

  
  

3.      Confidence & Romance Scams: Matters of the Heart (and Wallet)

Not all scams start with fear as some start with flattery. You meet someone online. They’re charming. They’re attentive. They seem to “get” you.

Then comes the request: money for an emergency, travel, or a once-in-a-lifetime investment.

Protect yourself by:

• Refusing to send money or gifts to someone you’ve never met in person.

• Watching for warning signs: professing love too quickly, isolating you from friends/family, asking for funds.

• Running new “love interests” by people you trust.

4.      Tax Refund Fraud: The Early Bird Scam

Imagine filing your taxes only to learn someone else beat you to it, knowing they used your Social Security number. They collect the refund, and you’re left in a bureaucratic mess.

Reduce the risk by:

• Filing early.

• Ignoring calls, texts, or emails claiming to be from the IRS (they use USPS).

• File IRS Form 14039 if you have been targeted.

5.      Remote Access Scams: The Fake Tech Support

You get a pop-up claiming your computer is infected. Or maybe a “tech support” agent calls you unexpectedly. They offer to fix the problem if you give them remote access.

That’s like handing over your house keys to a stranger who says they’ll “water your plants.”

Your playbook:

• Only allow remote access if you contacted a known, trusted tech support line.

• Ignore pop-up ads and avoid clicking links from unknown senders.

• Real security alerts won’t ask you to call a phone number.

• Hang up if someone pressures you to keep the conversation secret.

Good Habits Are Your Best Defense

Here’s the bottom line: you can’t control the fact that scams exist, but you can control how prepared you are. Pausing before reacting, looking for red flags, and confirming requests through official channels will stop many schemes cold.

Scammers thrive on catching people in hurried, distracted moments. Give yourself permission to slow down and verify before you act. Sometimes the smartest move is simply, doing nothing until you’re sure.