2023 SCAMs To Add To Your Watch List

Scammers are tricky. Just when one scam is exposed, another one pops up, and now with access to so many of us via digital measures, it is hard to know if what we are receiving is the real deal or a scam in disguise. 

According to the Better Business Bureau (BBB), most con artists have now taken a digital-first approach to scamming, noting that the vast majority of today’s scams originate through digital means, such as social media or email. Reported by the AARP, here are three of the top scams anti-fraud experts are tracking in 2023 and what you can do to protect yourself.

  1. Crypto Currency-Romance Scams. Fraudsters develop fake online profiles on dating apps and other social media sites like Facebook and Instagram. They then reach out to people on the apps and attempt to develop a relationship. The scammer may claim to live in another country, but they are interested in meeting and taking the relationship to another level. They may also suggest you move your “relationship” to a private channel like email or a chat app. When the time is right, the fraudster poses an urgent request for money, and requests you send money via gift cards, prepaid debit cards, or crypto assets.

What You Can Do: 

  • Only download reputable apps 
  • Be wary of anyone asking you to send money via gift cards, wire transfers, or crypto assets.
  • Avoid anyone who tries to move the relationship too fast. 

2. Payday Loan Scams. Criminals are taking advantage of the tight economy by preying on those who might be looking for a way to ease their burden by offering fake payday loans. A legitimate payday loan is a short-term loan of usually less than $500 that costs a fee to acquire. The borrower gets the money to pay bills. In this scam however, the scammer takes the money, and the borrower gets nothing. 

What You Can Do: 

  • Don’t give your money to anyone asking for it in the form of gift cards or any non traceable form of payment. 

3. One-Time Password Scam. It seems every institution or platform requires two-factor authentication. For legitimate sites, this is good as it protects you from being hacked. But scammers have found a way to use this to their advantage. They are using bots that will send an email or text to you from a site that looks like a bank or well-known online shopping site, alerting you to activity on your account and asking you to enter the code sent if you do not recognize the activity. Don’t take the bait. The code is actually a way the scammer tries to get personal information and hack into your accounts.

What You Can Do: 

  • Never share a code or other personal information that comes to you unsolicited via phone, email, or text. 

These are just a few of the many scams that are currently floating around for 2023. Be cautious and aware, and do some research. If it seems too good to be true, it most likely is.  

 Contact us to see how your insurance can protect you from fraudulent activity.

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