Consumer Financial Frauds

Senior Fraud Toolkit

Online scam artists, often operating from overseas, use a variety of fraudulent schemes to trick people into sending money, often through gift cards, wire transfers, and now increasingly via cryptocurrency machines, or providing sensitive personal information that ends up being used to commit identity theft. Here are some tips to help you stay safe online and avoid internet scams:

Internet Scams 

• Protect your online accounts.  
  • Create strong passwords and change them regularly.  
  • Do not provide personal Identifiable information over the phone 
• Monitor accounts and credit for fraud.  
• If you don’t know who the email, call or text message is from, Just delete it.  
• Don’t click or respond to suspicious looking messages, texts, or emails.  
• Use social media wisely.  
  • Limit the personal information you share and make settings private.  
  • Only accept friend requests from people you know 
• Use two-factor authentication on all accounts.  
• Never send cash, pay with gift cards, or cryptocurrency  
• Don’t send personal information while using public wi-fi.  
• Close your computer if you get any pop alerts and take it to a trusted computer tech 
• Never allow anyone remote access to your computer 

Fraud Prevention Strategies 

• Safely store sensitive documents in a locked file.  
• Use direct deposit to your checking or savings account for benefit checks to prevent checks from being stolen from your mailbox.  
• Do not wire money.  
• Shred all receipts with personal information.  
• Check the status of an individual’s ability to offer investments.  
• Don’t let strangers manipulate you!  
• If something sounds too good to be true, it is 
• Never assume the first information that pops up on a search engine is legitimate. 
•  Be cautious if a stranger to your conversation to an encrypted messaging application  
• If you are coached on what to say to your bank, it is fraud. 
• Keep computer and phone security software updated.  
• Ask questions about cybersecurity.  
• Confirm internet sellers are legit.  
• Don’t let embarrassment or fear keep you from asking about or reporting fraud.  
• Your report will help future victims!  
• Beware of “asset recovery” scams.  

Phone Scams 

• Don’t answer calls from numbers you don’t recognize.  
• Answering the phone is how scams start. Scammers hope you answer. Answering the phone opens the door to criminals.  
• Sign up for the “Do Not Call” list.  
• Gift cards are for gifts, not making payments.  If you do, it is probably a scam. 
• Never give personal information over the phone.  Your bank will never call you to verify personal information over the phone. 
• Don’t be courteous - say no and hang up!  
• Common examples of phone fraud: 
• “You’ve won a Publisher’s Clearing House Prize and you just need to pay taxes and fees to claim your winnings…”  
• “This investment is low risk and high return.”  
• “This is your grandson and I’m in jail and need bail money.”  
• “You owe money and are facing serious consequences.”  
• “We want to refund your computer repair charges.”  
• “An arrest warrant has been issued and you can pay with gift cards to stay out of jail.”  
• “Your amazon refund is being processed and we need your account number”