Major scams targeting older Americans
Scammers target older Americans to the tune of $500 million in 2020. The pandemic fueled spikes in almost all top categories of fraud, according to FTC officials quoted in this AARP article. Of particular concern, online shopping scams soared 129% over 2019. The highest dollar scams occur in “romance” scams.
Whether it is Zoom phishing emails, Covid-19 vax card scams, phony online websites, or romance scams, please be leery when you venture online or on social media sites. Recently, the AARP highlighted some of the avenues fraudsters use to take your money.
For example, “You receive an email, text or social media message with the Zoom logo, telling you to click on a link because your account is suspended or you missed a meeting,” says Katherine Hutt, national spokesperson for the Better Business Bureau. “Clicking can allow criminals to download malicious software onto your computer.”
Other scams will exploit what might be called the flavor of the month or topic of the day. An example could be, “Recently, the government said it will offer free Covid test kits. You can obtain yours at covidtests.gov/.” When you click on the link, it takes you to special.usps.com/testkits to order.
Criminals attempt to impersonate legitimate sites by adding a few letters or a word like “special” or “free” within the link. The link appears legit, but it’s not. The fraudulent site will encourage you to divulge personal information.
Regarding the romance scams, according to AARP, the scam works like this… You place your profile on an online dating site, and a potential partner entices you with his or her charm, intelligence, and good looks. But you don’t live in the same city or state. Though you become attached, you never seem to be able to meet this person. Eventually, an emergency, business crisis, or some type of problem “unexpectedly” surfaces, and you are asked to send money. Give them cash and they will continue to prey on you until you figure it out. It may seem obvious, but never underestimate how easily you can be tricked when love and your emotions are in play.
Be Aware of the Scammer Tactics
I don’t know about you, but I get a high number of emails that look ‘phishy’. Scammers target older Americans a number of ways. Generally, they seem to have some common characteristics. Here are some great tips from a FTC article How to Avoid a Scam…
- Scammers PRETEND to be from an organization you know
- Scammers say there’s a PROBLEM or a PRIZE
- Scammers PRESSURE you to act immediately
- Scammers tell you to PAY in a specific way
They may claim to be from the Social Security Administration, the IRS, a bank, a well-known company such as PayPal, Netflix, or Amazon, or your local utility. They want to solve a problem that requires KEY INFORMATION. Never give someone your password, bank information, PIN number, Social Security number, or personal identifying information. Never settle a debt or problem over the phone from an unexpected call that came your way. Many solicitors are scammers looking for money. If you pay these criminals, they will come back in a short period of time, claiming another discrepancy was found and another payment is needed.
You’ve won a big prize, just make a good faith down payment to receive your winnings. If you do, you’ll never see that money again.
Whether a scammer or salesperson, pressure to act immediately is a red flag. Hang up the phone. You are in control. Don’t cede that control to someone else.
They may insist you send money through a money transfer company or put money on a gift card. Then, they will ask you to give them the number on the back of the gift card. Or, someone will send you a check, request you to deposit it, and ask you to send them some of the money. That check will bounce after you’ve delivered the cash to the scammer.
Tips to Avoid a Scam
- Block unwanted calls and text messages
- Don’t give your personal or financial information in response to a request that you didn’t expect. Legitimate organizations won’t call, email or text to ask for your personal information
- If you get an email or text message from a company you do business with and you think it’s real, it’s still best not to click on any links. Instead, contact them using a website you know is trustworthy. Don’t call a number they provided or the number from your caller ID
- Resist the pressure to act immediately. Legitimate businesses will give you time to make a decision
- Know how scammers tell you to pay. Never pay someone who insists you pay with a gift card, by using a money transfer service or by setting up a PayPal account. Additionally, never deposit a check and send money back to someone
- Stop and talk to someone you trust
Finally, avoid the temptation of telling a scammer what you think of him or her. Even if the scammer may be an ocean away from you, that won’t prevent a vindictive fraudster from placing your phone number on numerous fake ads or overwhelming you with robocalls.
Remember, scammers that target older Americans are very sophisticated criminals that have access to the latest technology.
If, unfortunately you find you have become a victim of fraud, you can report the incident to the FTC at Report Fraud
Just remember: Delete suspicious emails, ignore suspicious texts, hang up, and don’t argue with scammers.
For other cybersecurity tips to protect your financial data from hackers, read our article, Protecting Your Financial Data