Scams to Watch Out For

Scams to Watch Out For: a reader asks…

I seem to be inundated with emails, texts, and phone calls that either sound too good to be true, or to scary to ignore. Can you give me a quick primer on what to watch out for to avoid getting scammed?

I will tell you that unsolicited emails and texts are the cheap and easy way for scammers to cast a wide net for potential victims. The cost is minimal for them, and there’s a good chance that for every 1,000 scam messages they send out, at least a few people will respond. Don’t be one of them.

If you get an unsolicited email or text message, assume it’s a scam or fake – right from the start. Guilty until proven innocent is the best way to avoid getting scammed. With all such, do not respond in any way. Simply report the email as spam or phishing, and report and block the text sender.

With unsolicited phone calls, do not say the word “yes” – that can be recorded and used as part of a scam on you. Do not engage; simply say, “Please take me off your list,” and hang up. Don’t listen to anyone’s attempt to convince you of their validity. These scammers are quite facile in psychology and will use it to trick you into divulging personal information or worse.

Most email systems will show you the “display name” in the From line, and you have to hover your cursor over it (or click it) in order to see the actual email address of the sender. Anytime the sender’s domain (the part after the @ sign) doesn’t match the company associated with the display name or the email text, that’s a dead giveaway that the message is a scam. For example, nobody from Chase Bank is going to send you an email from a Gmail account.

The types of scams are so varied, it’s not worthwhile to try to make a list – it changes constantly as scammers dream up new and creative ways to try to scam you. This is why my advice at the beginning of this article is so germane: do not engage with or respond to any unsolicited communication. Whether it’s advising that you have a bill to pay, your membership has expired, you have packages to be delivered, your computer is infected with viruses, your bank account has been hacked, a too-good-to-be-true investment opportunity, a government or law enforcement representative, a potential romance, a warning about a relative, or hundreds of others, when it’s coming to you without you initiating the communication, it’s most likely a scam.

If you are unsure, independently contact the legitimate company to inquire. Don’t click the ‘helpful’ link in the communication or call the phone number they provided. If you have no prior relationship with the company, contact them directly (you can usually find a phone number or email address on the company website) and let them know you don’t have an account.

If you do get scammed, take immediate action to reduce your exposure. If you gave them remote access to your computer, shut it down immediately and call a trusted tech support company to remove that access. If you transferred money (or cryptocurrency) to them, it’s iffy whether you can get it back, but talk to your bank and the police. And always, file a police report. If you have insurance, you may be able to recover your losses, but not if you didn’t report the theft.