Confidently conned: 1 in 4 Americans still fall for scams
This number blew me away: Nearly 90% of American adults are confident they can detect and prevent a scam. And yet, 27% say they’ve been a victim at some point. The numbers don’t add up.
That’s why I’m here for you. Let’s dive into some of the most common things that trip up even the tech-savviest among us and kick scammers to the curb.
The scam solution
Problem #1: In a Citi survey, 55% say their financial institutions are a trusted fraud and scam prevention authority. But only two-thirds routinely check their bank accounts and credit scores for shady activity. OK, that means one-third of the walking don’t do this basic adulting task.
Fix: Sign up for fraud alerts that come by text or email. You can do this in your bank’s app or through your online account. It’s a no-brainer. If your bank offers free credit monitoring, sign up for that, too. If not, try a free service like Credit Karma.
Problem #2: Americans polled say they’re familiar with standard scams like phishing (54%) and bank impersonation (51%). OK, great. However, 13% couldn’t identify any of the 14 common scams presented to them in the survey. Ouch.
Fix: Spotting a scammer isn’t rocket science (thank goodness). Here are four simple signs to look for from the FTC. Scammers …
- Pretend to be from an organization you know.
- Say there’s a problem or a prize.
- Pressure you to act immediately.
- Tell you to pay in a specific way.
If you get a shady feeling, chances are it’s a shady dealing.
Problem #3: 71% of adults who fell victim to a scam say it did a number on their overall financial health. No kidding. That might include a setback in savings goals, deeper debt and a lowered credit score.
Fix: The key to proper damage control? Act right away. If you paid a scammer, do not give them more money. Gather all the information you can (screenshots rock for this), then block the crook from communicating with you further. File a report with your local police department and at tips.FBI.gov.
But Kim, what if …
Ask a tech expert: What can I do after my computer was hacked?
So awful. Let’s start with the computer: If he wants to keep it, he must do a full factory reset and start from scratch. A new router is also smart in case the person behind this enabled remote access.
He’s got other work to do, too. He needs to change every single one of his passwords, enable two-factor authentication (2FA) on every account and install antivirus software.
The true cost of cash advance apps
Need money to pay bills in a pinch? Many rely on cash advance apps to make it to their next check. While these services offer a helping hand, you could wind up in a jam if you’re not careful.
A recent study took a deep dive into 15 of today’s most popular cash advance apps. The scoop? An advance might cost more than you bargained (or budgeted) for.
3 immediate steps to take if you fell for a scam
You went online and opened up an email that you thought was from your bank, or maybe you received a call from the IRS demanding payment before they filed charges. You panicked, sent them money, and then found out you were the victim of scammers. Maybe you’re anxious, embarrassed and at a loss for what to do next.
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