The October Fraud Watch Network Update is here

As you review these alerts, keep in mind that if you can spot a scam, you can stop a scam. Be a fraud fighter!
The AARP Fraud Watch Network is a free resource for all. Learn how to proactively spot scams or get guidance if you’ve been targeted. Visit www.aarp.org/fraudwatchnetwork or call our dedicated helpline to speak to a fraud specialist at 1-877-908-3360.

Scam Alert #1 Investment Scams:
October is a great time to remember that the too-good-to- be-true investment opportunity often is exactly that. Investment scams are among the oldest out there. With lots of people looking for a way to make money on investing, there are at least as many looking to take it away. One area where investment scams have thrived as of late is in cryptocurrency, which has taken a quantum leap recently. The Federal Trade Commission received nearly 6,800 complaints of cryptocurrency investment scams from October 2020 through March 2021, up from 570 in the same period a year before. Reported losses during that time grew more than tenfold, to above $80 million.

Three things that are common in crypto scams are:

1. fake websites with bogus testimonials,
2. fake celebrity appeals via direct messages on social media and
3. buy-now campaigns designed to create pressure to invest right away.

If you are thinking about investing in cryptocurrency, remember that most of the consumer protections that exist with traditional investments don't exist for crypto.

Scam Alert #2 – Cybersecurity Scams
October is National Cybersecurity Awareness Month – a great time to remind ourselves just how much of our lives happen online and what threats exist there. Any device that stores information or is connected to the internet can be a way for cybercriminals to gain access to your information systems – or, in some cases, use your devices to attack someone else.
You can own your role in cybersecurity by taking heed to the following:

1. Multi-factor authentication – Set up this extra step anywhere it’s offered on your online accounts; you’ll receive a string of numbers to a device you choose that will prove you are the account owner.
2. Strong passwords – Have a unique and strong password for each online account. 
3. Phishing attempts – ID fraud increased dramatically in 2021. Bogus emails and texts with malicious links are a common way to steal identities; avoid clicking unless you are certain about knowing the sender.
4. Software – Criminals never stop trying to find a new way into your devices, so make sure they are all operating on the latest software.

Scam Alert #3  -- Charity Scams
We Americans are a giving people. In 2020, in the midst of a pandemic that crippled the economy, we still contributed nearly half a trillion dollars, according to the Giving USA Foundation. Unfortunately, some of those funds went to criminal scammers, who capitalize on donors’ goodwill to line their pockets.
Many such frauds involve faux fundraising for veterans and disaster relief. Scammers know how readily we open our hearts and wallets to those who served and those rebuilding their lives after hurricanes, earthquakes or wildfires. Here are two charity scam red flags to be on the lookout for:

1. Anyone putting pressure on you to give right away. A legitimate charity will welcome your donation whenever you choose to make it.
2. Requests for payment by cash, gift card or wire transfer. These are criminal’s favorite ways to get paid. Know that any request to pay a debt or obligation by gift card is a scam.

Scam Alert #4– Student Loan Forgiveness
There has been a lot of news recently about student loans. Some are being forgiven, some payments are being paused and lots of borrowers are trying to figure out where they fall. This is the type of situation that criminal scammers are ready to pounce on.

Crooks are already setting up websites and sending out ads promising to clear up the confusion and get you “to the front of the line” for a fee.

Here are three reminders to keep handy should you be tempted by one of these offers.

1. There is no information that anyone can get for you for a fee that you can’t get for free from the Department of Education or your loan provider.
2. It is illegal for debt relief companies to collect payment from you before they get results, so upfront fees are a surefire sign of a scam.
3. There is no such thing as paying for faster results and anyone who makes such an offer is a crook.

Want to continue to stay informed? You have 30 minutes?! Log on for our Monthly Fraud Talk Tuesdays on the second Tuesday of every month from 12pm-12:30pm. Here are our next two:

• November 8: Shopping Scams- Register here
  Online shopping has been growing for years, and the coronavirus pandemic sent the trend into hyperdrive. Ecommerce sales topped $870 billion in 2021, an increase of more than 50 percent from 2019, according to retail research firm Digital Commerce 360. Cybercriminals are keeping pace. Online purchasing is the most common scam type reported to the Better Business Bureau (BBB), accounting for 37 percent of complaints to the BBB's Scam Tracker in 2021, and the riskiest, with 3 in 4 victims reporting a monetary loss.

• December 13: Social Media Scams- Register here
  Scams that started on social media sites doubled year-over-year in 2021, leading to $770 million in consumer losses, a federal agency warns. Calling social media a “gold mine” for scammers, the Federal Trade Commission (FTC) says these platforms were far more profitable than any other method of reaching consumers for scams, with an 18-fold increase from 2017.