Scams & Fraud

Federal data suggest that losses from elder financial abuse perpetrated by a known person are greater than when fraud is perpetrated by anonymous scammers. Far too many families find out about financial abuse too late and regret not seeing the signs or asking more questions.

Who doesn’t want to give their loved ones that perfect holiday postcard moment? You know, the big box with a bow that has a furry new member of the family inside. Unfortunately, that desire to create a cherished memory of a holiday pet leads many to a scam they won’t soon forget.

Most US consumers will purchase a gift card for someone this holiday season. While these gifts are easy to give and popular to get, they are also open to fraud. A 2022 AARP survey found that one in four people have either given or received a gift card with no funds on it.

Holiday shopping, like most shopping these days, has moved online, and that poses unique risks, according to a new AARP survey. More than 75% of U.S. consumers reported that they have experienced some kind of fraud and a similar share of consumers failed a 9-question safe shopping quiz.

Scams aren’t always high tech – some of the most common are about as old fashioned as they come. In 2021 there were 33,000 reports of incidents involving mail carrier robberies and mail theft, up from 24,000 in 2019, according to the US Postal Inspectors (USPIS). What were the thieves looking for? Personal checks that can be washed and re-written to anyone for any amount.

The holiday deals have already begun, but buyer beware – not all of those great deals you see online are legit. Because if the online shopping season has started it means that online scam season has officially begun too.

Computer viruses are scary. Tech support scammers exploit that fear, claiming your computer or mobile device is dangerously ill and needs an immediate, costly cure. These scams start with an unsolicited phone call or a pop-up warning on your device, claiming to be from Microsoft, Norton, or other related company, warning of grave problems. The goal is to persuade you to allow them to remotely connect with your device and then convince you they find something terrible. What they are really doing could involve installing malware to harvest personal information and logins or convincing you to pay for expensive repair and protection (fake and fake).

Veterans, active duty and military families are nearly 40% more likely than the general population to lose money to scams and fraud. According, to the Federal Trade Commission, reported fraud attacks against our nation’s heroes and their families jumped 69 percent from 2020 to 2021.

It’s open enrollment season, which also means it’s Medicare fraud season. Eligible beneficiaries have until December 7 to shop for the best deal for their health care dollar. Unfortunately, some of the deals offered won’t be deals at all.

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.