Peer-to-peer (P2P) payment platforms like Venmo, PayPal, Cash App, Apple Pay and Zelle allow consumers to transfer funds online or through an app quickly from their bank account to other people or businesses. In a recent ElderWatch survey 43 percent of Coloradans 50+ indicated that they use these apps for the recommended purpose, transferring funds to friends and family. But beware, scammers are requesting payment via P2P apps more and more. Here are some tips to help stay safe:
Because of the Coronavirus global pandemic, scammers are using different ways to approach their victims. Often times they will use the guise of a government agency or reputable business to try and obtain personal or financial information. The following are a few of the imposter scams to watch out for during this time:
With more Coloradans staying home than ever during the global Coronavirus pandemic, it is important that we review some the ways that scammers might try and take advantage of isolated, financially strapped or bored people:
Online dating sites and social media platforms have become one of the most popular ways for people of all ages to meet friends, significant others and spouses. While most people have good intentions when meeting others online, scammers have also been known to use dating sites, social media sites and apps (ex. Facebook, Instagram, Words with Friends, etc.) to obtain money, gifts or personal information.
Scammers and criminals don’t take a break during the holidays, in fact they might ramp up their efforts. A 2018 ElderWatch survey of Coloradans 50+ found a lack of knowledge about some holiday-related scams. Be vigilant this holiday season and take extra precautions to ensure your hard-earned money does not end up in the hands of scammers:
Learn How to Recognize, Refuse and Report Investment Scams at the Second Annual Rocky Mountain Investor Fraud Summit
Investment fraud affects thousands of Americans and accounts for billions in lost savings every year. The profile of a typical fraud victim is not who you might think—they are financially knowledgeable, have above average income, are college educated, and self-reliant when it comes to making decisions. Moreover, a majority of investors ages 55 to 65 do not perceive themselves as vulnerable to investment fraud; yet many of their reported investment behaviors put them at risk.
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