In today’s digital age, fraud and scams are more common than ever. From phishing emails to fake investment opportunities, fraudsters use clever tactics to exploit victims. At Bill Few Associates, we want to help you protect your wealth. Below are common scams, warning signs and tips to safeguard your finances.
Common Scams
- Phishing: Fake emails or calls pretending to be from legitimate companies to steal personal information. Sometimes fake emails will include a stolen logo of a business you are familiar with or of which you are a customer. Often scammers may represent that they are with the government, your bank, utility company or a familiar retailer.
- Emergency Scams or Grandparent Scams: Communication, often phone calls, from an impersonator who preys on your emotions by citing a crisis situation and asking for money or personal account information in order to gain access to your bank accounts.
- Investment Scams: Promising high returns with little risk, often through Ponzi schemes or unregistered securities.
- Romance Scams: Building fake relationships online and asking for money.
- Tech Support Scams: Fraudsters posing as tech support, asking for access to your devices and payment.
- Membership Renewal Scams: Communication related to being due for renewal or delinquent on a renewal where scammers hope to con you into making a payment or providing credit card information.
- IRS Scams: Callers claiming to be from the IRS, demanding payment or personal information.
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Warning Signs
- Unsolicited contact asking for personal information
- Pressure to act quickly
- Too-good-to-be-true offers
- Requests for wire transfers, gift cards or unusual payment methods
- Strange communication style including poor grammar, misspellings, no address or titles
How to Protect Yourself
- Stay Informed: Learn about the latest scams from trusted sources like the Federal Trade Commission, your local news stations, community government and the Consumer Financial Protection Bureau.
- Verify Contact: Always verify communication with companies or agencies through official channels.
- Monitor Accounts: Regularly check your financial accounts for unauthorized activity.
- Strengthen Your Security: Set up two-factor authentication and create unique, complex passwords for your accounts.
- Consult Your Advisor: Reach out to your experienced financial advisor before making any major financial decisions.
What to Do If You’re Scammed
If you fall victim to a scam, report it to your financial institutions, file a complaint with the FTC, and consider credit monitoring services.
Fraud can happen to anyone, but staying informed and taking precautions can protect your assets. At Bill Few Associates, we’re here to guide you—reach out if you have concerns at 412-630-6000. We’re happy to help.
(412) 630-6000
(800) 245-5939
(412) 630-6001 fax
Additional Resources:
https://consumer.ftc.gov/consumer-alerts/2024/01/did-someone-tell-you-move-or-transfer-your-money-it-could-be-scam
https://www.irs.gov/newsroom/how-to-know-if-its-really-the-irs
https://www.consumerfinance.gov/ask-cfpb/what-are-some-classic-warning-signs-of-possible-fraud-and-scams-en-2094/
