Top Scams to beware of in 2023

As a community bank committed to the financial wellbeing of our clients, Summit Bank is always vigilant against the threat of scams and frauds. Unfortunately, as we enter 2023, there are several scams that continue to plague Americans across the country. Here are some of the top scams that we've seen, and what you can do to protect yourself.

1.???The cryptocurrency-romance scam, where crooks combine crypto scams with romance scams, posing as internet love interests to encourage their targets into investing in fake crypto accounts.

How to stay safe:?Carefully scrutinize any investment opportunity, even if you think you’re a sophisticated investor.

2.???The payday loan scam, where criminals exploit inflation and offer fake payday loans, requiring applicants to prepay a fee that only goes into the scammers' pockets.

How to stay safe:?Be wary of anyone who asks you to pay any sort of loan fee with a gift card or some other nontraceable form of payment.

3.???The one-time password (OTP) bot scam, where scammers use automated programs to deceive people into sharing the two-factor authentication codes sent to them via text or email from financial institutions.

How to stay safe:?Never share authentication codes, or provide other information, in response to an unsolicited phone call or text.

4.???The student loan forgiveness scam, where scammers build phony application sites aimed at stealing applicants' Social Security numbers and bank information, pressuring them into applying and charging a fee for their help.

How to stay safe:?Go to the?Department of Education’s student aid website ?to keep track of the proposed forgiveness program’s status.

5.???The puppy purchase scam, where scammers offer puppies for sale online, requesting payment for insurance or special crates, but never delivering the dog.

How to stay safe:?Go to an animal shelter and check out the dogs available there, before you search online. If you spot a puppy you like on a website, do a reverse image search to make sure it’s not a photo stolen from some other site. Insist on seeing the pet in person before paying any money.

6.???The check washing scam, where crooks steal checks from mailboxes and bathe them in household chemicals to erase the original name and dollar amount, leaving blank spaces they can fill in.

How to stay safe:?The U.S. Postal Inspection Service recommends depositing your outgoing mail in blue collection boxes before the day’s last pickup, so it doesn’t sit for as long. At home, avoid leaving mail in your own mailbox overnight, and have your mail held by the post office or picked up by a friend or neighbor if you’re going to be away.

7.???The free-gift QR code scam, where scammers exploit the convenience of the barcodes people scan into their phones to see restaurant menus or make payments.

How to stay safe: If you receive a QR code out of the blue, contact the person or company that supposedly sent it, to make sure it is for real. Use a phone number you know is authentic.

8.???The 'Oops, wrong number!' texts scam, where scammers send seemingly misdirected messages, urging the receiver to pay for something or offer personal information.

How to stay safe:?Don’t respond to texts from numbers you don’t recognize. Don’t click on links in them or respond with “STOP” if the messages say you can do this to avoid future messages. Block the phone numbers they come from.

9.?Fake Barcodes on Gift Cards: Criminals are known to attach counterfeit barcode stickers over the legitimate ones on the back of gift cards in stores, enabling them to divert funds into their gift card accounts when you purchase the card.

How to stay safe:?With some gift cards, you can make sure the number of the barcode matches the number on the packaging. Or feel or gently scratch the barcode on a gift card before buying. Don’t purchase if the barcode is on a sticker, or if the package is ripped, wrinkled, bent or looks tampered with.

10.??Crypto Refund Scams: Be wary of fraudulent "get your crypto cash back" websites, including fake ones resembling the U.S. Department of State, that target individuals who have lost money in cryptocurrency scams. Scammers request personal identification information such as account numbers and passwords, as well as an advance fee for their services, payable via gift card, cryptocurrency, or wire transfer.

How to stay safe:?Crypto investments aren’t insured by the government the way bank accounts are. For the most part, funds lost to crypto scammers are gone.

11.???Bank Impersonation Scams: Criminals who have access to your bank or credit card login information call you, claiming to be from your bank and warning you of a problem with your account. They then ask you to read back a "one-time passcode" that they claim to have sent to you via email or text for verification purposes. In reality, the scammer's login attempt triggers your bank to send you the passcode, and providing it gives them full access to your account.

How to stay safe:?Never give your onetime passcode to anyone who calls you. Hang up, find your institution’s phone number on a bank statement or on your credit card, and call.

12.???LinkedIn Relationship Scams: Fraudsters may send you a message on LinkedIn, claiming to be an aspiring professional in the same industry as you, seeking advice from a more experienced colleague. They eventually ask to move your conversation to a personal device and then lure you into a scam.

How to stay safe:?A request to continue your chat on a more private channel is a warning. So is talking up crypto. LinkedIn may flag requests to go off-platform as it tries to remove fake accounts. But you should end the conversation and block the scammer.

13.???Package Delivery Scams: Package delivery scams include texts and phone calls from a seemingly professional delivery driver who can't find your house or an email about rescheduling a drop-off. The scammer may also leave a fake "package delivery attempt" sticker on your front door, all in an attempt to get you to provide personal information or click on a link that will download malware onto your computer.

How to stay safe:?Contact the seller or delivery service using a verified phone number, the FCC recommends. Don’t use numbers or links provided by potential scammers.

14.???Out-of-Stock Item Scams: Scammers often place fake ads on social media sites for products at too-good-to-be-true prices, take your order and payment information, and then inform you that the item is unavailable. They promise to refund your money, but you never receive it, and the company is unresponsive.

How to stay safe:?Research businesses online before you buy, and only shop on secure websites with a lock symbol in the browser bar and an internet address that begins with “https.” And pay by credit card, the FTC recommends. That way, you can withhold payment pending an investigation.