Tag: Scams Against Older Adults

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.

Scammers say and do things that can tell us they’re lying — and they’re not who they pretend to be. Of course, to hear or see those clues, we have to get past the panic scammers make us feel, thanks to the so-called emergencies they try to create. And since scammers are convincing, that can be hard to do. But recent scams are costing people their life savings, so here are some sure ways to spot the scammer.

That call or text might not seem like a scam. It might look like it’s Apple or Microsoft, saying there’s a problem with your computer. (It’s not.) It might seem like it’s Amazon, saying there’s a problem with an order. (Also no.) It might even sound like your grandchild, calling with (supposedly) an emergency. (Still no.) All of these are scammers. This is National Consumer Protection Week (NCPW) and we’re inviting you to join us in talking about scams just like these.