Holiday Scams That You Should Be Aware Of!

Tis the season to be on your guard!

The Holidays are a special time to share, unwind, and reflect on what is important to us. Sadly, we live in a world where opportunists have made answering unknown phone calls and emails a terrifying experience. Scammers are ever vigilant and constantly shifting strategies that are getting more intricate every year. Keep yourselves protected by becoming aware of what has been reported so far.

CNBC reported that Americans lost close to $29.8 Billion to phone scams in 2021! (Link Below) This should give you a little insight into how incentivized these immoral actors are. Although the article provides information on what the costs and repercussions are, it did little to provide how the common person can identify these scams. How does one protect themselves from the overwhelming flow of attacks that seem legitimate at face value? I believe that unmasking these "Boogiemen" at every turn and exposing their tricks will help prevent some of you from falling victims to their ploys.

Scams to be aware of:

• Tech Support Scams: These are just annoying, but they are slipping past unsuspected. If you get an I.T. call from a "reputable company", be on alert. Save yourself the headache and don't click pop-ups or open emails that offer "anti-virus" or "I.T. support" if you have not contacted them yourselves. Set up pop blockers and spam those emails out of your inbox. Try also reporting phishing emails as often as you see them.

DO NOT let them "SCAN" your computer! Please do not give these people access to anything; especially your computer access.

• Emergency Scams: My wife was actually called by someone using this very tactic. They claimed that I was in the hospital and needed emergency surgery or I would soon die. They gave her little time to react and made it hard to ask questions. Luckily, I was sitting right next to her during the interaction, so you can imagine the fun I had when I found out I was on death's door.

Normally these calls urgently reach out to close relatives or friends and make extreme claims of a dire situation that has befallen someone close to you. These predators prey on your emotions and will want you to respond immediately with, you guessed it, your wallet.

These scammers also try to be clever and use familiar phone numbers to appear that appear on your caller ID. This practice is called "spoofing". This practice can be used on emails, phone calls, IP addresses, and websites. Carefully review all phone numbers and addresses to verify legitimacy.

• Fack Debt/ Outstanding Balances: Another one that is common but can be very manipulative if you have ever owed money. Some scammers are able to find information on your past debts and will call to fraudulently collect. If a legitimate creditor were to call, they will always be able to produce information about the existence of the debt. Also, creditors have specific guidelines that they are required by law to uphold or risk litigation. In short, they are not allowed to threaten you by using deceptive or abusive tactics, this can be sued. (Food for thought)
• IRS or ANY Government Imposters: These are popular so it would be remiss of me not to mention it. These scammers will try to use a few tactics like mentioning local law enforcement for an outstanding warrant, missed or unpaid taxes, and even stimulus backpay (this last one is newer pitch).

Remember a few things about this, if you really owe money, Trust Me, YOU WILL KNOW! Government agencies LOVE sending letters life they are handing out free samples. You can also call the IRS or local government to verify any confusion. Never reveal anything over the phone.

• Cryptocurrency Scams: For some of you, this may not be relative if you are not in this market, but the more you know the better you can protect yourself and others. If you do own cryptocurrency, then you have most likely have heard of someone that has a new coin or the perfect theory about the next big coin that will "go-to-the-moon". Although much is left to speculation, there are scams that involve "investments" into these new "Companies" that will promise earnings in a very short time frame. (Many scammers disguised as collectors will also ask to be paid in a cryptocurrency. Huge red flag.)

If you are promised a guarantee on your return, big payouts, and even free money, stay clear. Before you invest a dime, please research and check multiple sources for this information.

Reminders to follow that can/will help:

- For many, these scammers use outdated information and have little to go by until you provide more information. Let them do most of the talking and ask for clarification. If something is not adding up, keep an eye out.

- Verify ANY company or institution, follow up and identify the caller. A quick Google search can help save you heartaches. Type in phone numbers and the caller's name. Narrow as much information as you possibly can.

- Ask for a callback number. Remember, the scam falls apart once you have time to think things through. Scammers will make it hard to leave the call. They know that once you hang up the phone, the chances of success drop significantly.

- Follow that Gut feeling. This is not always perfect, but when something does not seem right, seek clarification!

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I wish you all nothing but happiness this year and the next. It's hard enough navigating in this pandemic, but if I can help just ONE person avoid this stress, that will make this effort worth it. If you enjoyed this content, let me know. I love sharing this sort of information and there is no shortage of content that I can write about.

Stay safe everyone and until next time, Happy Holidays!

References:

https://www.cnbc.com/2021/06/29/americans-lost-billions-of-dollars-to-phone-scams-over-the-past-year.html