Tag: Scams Against Older Adults

Social media can be a great way to connect with new friends, but it’s a different story when someone approaches you to be friends and then asks for money. That’s no friend — that’s a scammer.

Older adults may come from different backgrounds, but one thing they have in common is wisdom gained from life experience. This Older Americans Month, whatever your age, the FTC encourages you to share your wisdom about avoiding scams and fraud with the older adults in your life.

With scammers targeting our entire life savings with their schemes, we all need to be alert and know how to detect their latest tricks. Something as simple as talking about scams you know about is a great way to help you and your community stay protected. And being part of this solution doesn’t require training or a lot of time!

People are losing big money to scammers running complicated scams. Here’s how the scam works.

Did a salesperson knock on your door and promise free rooftop solar panels at no cost to you? Or say you’ll never have to pay another electricity bill because government programs, grants, or rebates cover your solar installation? It’s likely a scam. While there are some government-funded solar programs for households that qualify, “going solar” isn’t free. Honest businesses will tell you exactly how much it’ll cost to get and install solar panels. Here’s how to steer clear of the scams.

When you log into your bank or credit card account, you might get a text message or email with a verification code. You then enter it at the login screen to confirm it’s really you. That’s a form of two-factor authentication that adds a layer of security to your account — and keeps would-be scammers and hackers out.

People are losing big money to scammers running complicated scams. The scams usually involve someone supposedly spotting fraud or criminal activity on one of your accounts, offering to help “protect” your money, sometimes asking you to share verification codes, and always telling you to move money from your bank, investment, or retirement account. And every bit of it is a scam.

Is there a legit reason for someone to send you to a Bitcoin ATM? The short answer is NO. Will someone from the government send you to a Bitcoin ATM? NEVER. If you’ve followed this Anatomy of a Scam series, you know there’s more to it than that.

As we continue our deep dive into imposter scams, we’re taking a look at a new twist on tech support scams. Ever deal with a tech support scam? A warning pops up on your computer. It says your computer has a virus and gives you a number to call for help. You often end up paying hundreds of dollars to a scammer who pretends to deal with the fake virus. Now scammers are upping the stakes — instead of hundreds of dollars, people are unknowingly handing over tens or even hundreds of thousands of dollars to tech support scammers. Here’s how.

One way to spot a scam is to understand its mechanics. A new and complicated scam starts with a call or text message about a suspicious charge on your Amazon account. But it’s not really Amazon. It’s a scammer with an elaborate story about fraud using your identity that ends with you draining your bank or retirement accounts.