With stimulus checks coming to many Americans in the coming weeks, there will be scammers anxiously waiting to relieve you of your money. Fake information has become a very real problem for just about everyone these days. Businesses of all sizes, even large industries have become prey to scammers from all over the world. Even city government offices are not immune. Puerto Rico just reported being scammed out of over $2.6M in an email phishing scam. According to a senior official, the Puerto Rican government is still seeking the return of that money. Of course, if it can happen to governments, it can happen to anybody, maybe even you. Keep reading to learn how to recognize the scammers who are blowing up your phone multiple times every single day.
DON’T BELIEVE EVERYTHING YOU SEE ON CALLER ID
Your phone rings and you see IRS on Caller ID. The man on the other end of the line speaks to you in a harsh, threatening tone, warning to have you immediately arrested if you do not pay $2,500 right away.
Fraudulent IRS calls have been the most prevalent phone scam for the past five years. There was a time that you could trust what you read on your Caller ID. Sadly, we now find ourselves in a time that bad guys disguise themselves as legitimate businesses in order to gain direct entry to your home through your phone.
LEARN TO QUICKLY SPOT THE IMPOSTERS THEN SIMPLY HANG UP
Senior citizens are often targeted because they are more likely to answer the phone and to trust who they believe is the ‘authority’ figure speaking to them.
The typical scam involves a robocall from someone impersonating the Social Security Administration (SSA) and asking for the recipient’s personal information. These calls resulted in scammers bilking Americans, mostly seniors, for over $38 million last year alone, according to the Federal Trade Commission.
• Robocalls are automated calls from companies you haven’t authorized to contact you. They’re illegal and usually a scam.
• Unsolicited calls from government agencies, public utility companies or major tech firms never call requesting your personal information.
• Being told you’ve been selected as a prize winner and asking for money to receive the prize is always a scam.
• If you are being bullied or pressured into making an immediate payment on the phone or by money wire they are scammers.
• Being bullied or pressured into making payments with gift cards is definitely a scam.
• Technical support for your computer that you did not request.
• The IRS sends plenty of correspondence before sending you to collections. They will NEVER threaten arrest on the phone.
• The Social Security office will NEVER call to ask you to give them your information by phone.
• A call requesting that you send money to a relative who is stranded in a foreign country is almost always a scam.
• Each of these instances is best handled by simply hanging up.
DON’T SUFFER SILENTLY, FILE A COMPLAINT
People lose massive amounts of money through phone scams, some even lose their life savings. Under no circumstances should you provide any personal information over the phone. Do not argue, plead or attempt to negotiate with a scammer. Request that any information or breakdown of your debt be substantiated with a follow up letter then immediately disconnect the call.
So what do you do when you actually get your money? Experts say, you should try these things:
– If you have a steady income stream but could still be on more solid financial footing: Build up your emergency fund
– If you have a steady income stream but have high-interest debt: Pay it down
– If you’re financially secure and want to help the economy: Spend it at local businesses you don’t want to see close
– If you’re financially secure and want to help others: Donate it
If the calls continue, do not answer. If possible, block the number or add it as a contact number on your phone so you know not to pick up next time. Do not respond to their voicemails. File a complaint! Complaints help the FTC and other law enforcement agencies bring scam artists to justice and put an end to misleading and unfair business practices. If you are being harassed and have a complaint call 1-877-FTC-HELP or, file it online at https://www.ftccomplaintassistant.gov/#crnt&panel1-1
by Deborah Easton
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