Tag: Government Impersonators

Hearing a lot about federal student loan forgiveness in the news? You’re not alone — scammers are, too. You might get a call from someone saying they’re affiliated with Federal Student Aid (FSA) or the Department of Education. (They’re not.) They’ll say they’re following up on your eligibility for a new loan forgiveness program, and might even know things about your loan, like the balance or your account number. They’ll try to rush you into acting by saying the program is available for a limited time. But this is all a scam. What else do you need to know to spot scams like this?

If a call sounds like your boss (asking for bank account numbers) or your family member (begging for help in an emergency), you’re more likely to act. That’s why scammers use voice cloning to make their requests for money or information more believable. And the FTC is fighting back.

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.

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.

Recovering from what is now the largest wildfire in Texas history will be a long process. If you’ve been displaced by the fire, or your home or business was damaged, you’re probably trying to figure out what to do next. Here’s some advice to help you get started.

We expect banks and brokers to keep our money safe. We think they’ll stop or warn us about suspicious transfers out of our accounts. But do they? Scammers are exploiting that trust and getting people to transfer their money and drain their retirement accounts to “protect” or “safeguard” or “legalize” it. The truth? The money gets stolen, and banks and brokers won’t get it back from the scammer.

As record rainfall and heavy winds devastated the West Coast, you can bet that scammers are standing by, ready to get started after the storm. How can you spot the scammers?