Is that unexpected text a scam?

Did you know that people almost always open text messages? In a new Data Spotlight about the big jump in reported fraud losses involving text scams, the FTC notes a study finding open rates can be as high as 98%. Those are really good odds for a scammer. And when scammers get you to respond to their messages, they’re cashing in. Here’s how you can increase your chances of keeping your money safe.

Some text scams start as fake fraud alerts. You get a message from someone claiming to be from the fraud department with Amazon or your bank, offering to help with a suspicious charge. But that’s the hook they use to get you to respond by messaging back or calling a number. Instead of help, they’ll spin elaborate lies and drain your bank account.

Or maybe you get a text about a problem with a delivery or a message about unpaid tolls. In both cases, they tell you to click a link to fix the issue. When you land on what seems to be the USPS or highway toll program website (they’re not), they tell you to pay “re-delivery fees” or “unpaid tolls.” That’s when you might end up giving your credit card or even your Social Security number to a scammer.

Scammers also use phony job opportunities and “wrong number” texts to convince you to respond. No matter what story you get, here are ways to avoid text scams:

• Don’t reply to unexpected text messages. It could lead to a scam.
• Never click links in unexpected messages. Scammers want you to react quickly, but it’s best to stop and check it out.
• Don’t assume a text from a known company or organization is legit. Check it out. Reach out to the company, state tolling agency, or bank using a phone number or website you know is real — not the info from the text.

Delete and report scam texts using your phone’s “report junk” option or forward unwanted texts to 7726 (SPAM). Learn more at ftc.gov/textscams.