Most Popular Scams You Should Watch Out For

Federation To Protect
4 min readAug 4, 2016

--

2016 experiences another evolution of information technology. There’s a higher level of cyber innovations used to create consumer scams. Scammers are getting more convincing with the use of improved technology. Consumers are literally buying promises of grandeur and relief, giving personal information and money. Bottom-line the new twists take advantage of individual heartfelt feelings, and desperation with brutal intimidation. The sales pitch has one goal — to separate you from your money as fast as possible.

Retailers have invested billions of dollars to protect consumers and the business. The latest credit card technology uses an embedded protection chip annoying scammers because it’s working. Retailers without the machines to read the chips are responsible for probable frauds. One thing is certain, if past patterns of behaviors hold true to form. It won’t be long before scammers find a way to defy the chip protector.

Technology has offered Americans, many methods of sending and receiving money online. Cyber criminals are tapping into popular online mobile wallets sites. Websites like PayPal, Google Wallet and Apple Pay contain personal information and funds. Our best weapon against the scams and the thieves is awareness. Understanding how cyber criminals use computers, smart phones, tablets and mobile apps is critical. There are steps we can take to protect our personal information. The best tip of the day is to limit the personal information shared online or during a conversation.

Here are 5 social scams making headlines today:

Social Media

It’s true just about every household in America has at least one social media page. Almost every business from small to Fortune 500 also has a page on Facebook or Twitter. The age of technology has captured our personal interests and business information. In spite of all the good aspects, social media is also a tool for cybercrimes. Take the time to check out the sales pitch before giving anyone personal information.

IRS — Stolen Identity

A recent study showed six billion dollars paid in fraudulent tax refunds. Someone got access to your personal information and filed a tax return before you did. Today, one of the oldest scams is still taking place. Consumers are getting calls or email messages from the IRS. They look real and sound authentic. The caller asks for personal information to verify your identification to receive a refund. The IRS doesn’t contact taxpayers or demand immediate payment using a credit card.

If you receive a telephone call or notice, ask for the caller’s information. Get a name and the employee or badge number for your records. During the conversation, limit the disclosure of personal information. Let them know that your advisor or legal representative will be contacting them. If they hesitate for any reason, something might be wrong. You should contact the agency they represented to verify the contact.

Tech Support

Lessons learned from Microsoft’s past. These impersonators are pushing sales based on lies. They found a few facts and personal information about you online. The conversation with these online tech support services hasn’t changed. They are banking on the fact your computer skill is weak. The goal is to convenience you to download software to remotely repair the computer for a fee. All you need to do is give them a credit card number. The truth, once they get into your computer, they are able to take more than just information. They take your way of life.

Student Loans

College enrollment has tripled in the past year with new attendees and graduating students. Students and parents are finding scams disguised as stress relief for educational loans. Scammers are advertising conversion programs of college loans with low interest and long terms. In most cases the loans are connected to federal regulations. Scammers are using a debt settlement or consolidation sales pitches. The offer includes renegotiating or changing the existing terms. All you need to do for a one-time fee is give them your credit card number. It’s illegal in the United States to charge upfront fees for any type of debt relief.

Information Compromised

Business emails using the internet are being compromised. Scammers are intruding and accessing personal consumer information. Internet experts confirm the hackers are interested in getting credit card numbers and names. The plot thickens as cyber theft steps up to a new level. Online criminals are stealing information about your family, retirement investments and your business suppliers. The purpose is to transfer funds moving the money to foreign countries.

Dell Computers experienced the most recent system breach. Like Microsoft in the past. Dell consumers are receiving repair and recovery call services for a fee. According to the article, Dell received several complaints about the calls. This generation of hackers is smarter. Having breached the system, these hackers have names, computer serial numbers and service information.*

*This article provides broad and general guidelines and does not constitute professional financial or legal advice. You should not use this article as a substitute for your own judgment, and you should consult professional advisers before making any tax, legal, financial planning or investment decisions.

--

--

Federation To Protect
Federation To Protect

Written by Federation To Protect

The Federation To Protect is a non-profit organization created with the purpose to provide responsible options to ensure consumers’ trust.

No responses yet