How to Protect Yourself from Scams and Fraud
Scammers are becoming increasingly sophisticated, targeting individuals through phone calls, emails, social media, and fake websites. Knowing how to recognize these schemes and take preventive steps can protect your finances and personal information.
Common Scams to Watch For
- Compromised Card Scam – A scammer impersonates your bank, claiming your card is compromised. They may offer to send someone to your home to "secure" your account by destroying your card. Once they have it, they use it to steal from your account. Banks will never send someone to collect your card—always call your bank directly using the number on the back of your card.
- Rental Property Scam – Scammers create fake rental listings on legitimate platforms, often advertising properties that don’t exist or are already occupied. They demand upfront payments for deposits or rent before disappearing. Always verify listings, research the landlord, and never send money without seeing the property in person.
- Online Shopping Scam – Fraudsters create fake e-commerce websites or social media ads promoting great deals on popular items. Some sites mimic legitimate businesses, while others steal credit card details or personal information. Look for secure payment methods, read reviews, and avoid deals that seem too good to be true.
How to Stay Safe from Scammers
- Verify Phone Calls & Emails – If you receive an unexpected call or email asking for personal information, hang up and contact the company directly through an official number or website. Never click on links in unsolicited emails.
- Beware of Urgency & High-Pressure Tactics – Scammers often claim you owe money, your account is compromised, or legal action is imminent. Take a pause, verify the request with a trusted source, and never rush into a financial decision.
- Be Wary of Upfront Fees & Guaranteed Returns – No legitimate business guarantees huge returns on investments or asks for money before providing services. Do your research, check online reviews, and confirm legitimacy before sending any funds.
- Never Pay with Gift Cards – No legitimate company, utility provider, or government agency will request payment through gift cards. If someone asks for payment in this form, it’s a scam. Hang up, report the request, and never share gift card numbers.
- Use Strong Passwords & Enable Two-Factor Authentication (2FA) – Protect your online banking and shopping accounts with unique, strong passwords and enable 2FA whenever possible. This adds an extra layer of security against fraudsters.
Final Thoughts
Scammers are always evolving their tactics, but by staying informed and cautious, you can protect yourself and your finances. If something feels off, trust your instincts—verify before acting. For more personal finance tips, follow our blog and stay ahead of potential fraud threats.