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Common Scams and Red Flags

  • Posted on April 09, 2025
Fraudsters get more sophisticated every day, and they’re targeting everyone—especially those they believe are likely to fall for a scam because they’re busy, distracted, or too old or young to recognize the signs.

To keep you and your loved ones’ finances safe, stay vigilant and watch for the two primary red flags of a scam:


Unexpected Messages

Fraudsters will impersonate family members, bank employees, charities, or anyone else they think will convince you to provide money or financial information. Be suspicious of any unsolicited call, message, email, or text—especially if it comes with an urgent request.

 

Request for Money or Personal Information

One of the main signs of a scam is an unexpected request for money or personal information. To make sure your money stays protected, never discuss your financial information (bank details, SSN, insurance benefits information, etc.) with someone you don’t know or trust.

When dealing with businesses or charities you don’t know, remember: 
 
  • If a business or person sounds illegitimate, it likely is. You can refer to the Better Business Bureau at BBB.org for a list of businesses and charities you can trust.
  • If someone is trying to sell you an unrealistic product or service and you have a gut feeling that it’s “too good to be true,” it probably is. Do your research before making a financial decision.


You can also watch out for these specific scam scenarios:
 
  • The Grandparent Scam – a “grandchild” who is in danger or in trouble and needs money
  • Government Imposter Scams – any government official calling to collect money or personal information (i.e. IRS, Medicare, Social Security Administration)
  • Online Shopping Scams – purchasing fraudulent pharmaceutical drugs or health and beauty products or using your credit or debit card details on a phishing site that is set up by hackers
  • Sweepstakes/Lottery Scams – winning a contest you did not enter with the request of upfront fees paid
  • Funeral Scams – someone who attends a funeral or calls surviving family members and claims the decedent has outstanding debt; untrustworthy funeral homes adding unnecessary charges
  • Charity Scams – requesting a donation for an unknown charity or one with a similar name to a legitimate one
  • False Investment Schemes – often high pressure and confusing investment opportunities promising little risk and high return
  • Tech Support Scams – someone via phone or pop-up ad claiming to help you avoid computer viruses
  • Robocalls and Phishing Messages – telemarketing and spam emails/texts
  • Elder Financial Abuse – a friend, family member, or caregiver pressuring you for financial help or transacting without your consent
  • Romance Scams – a new love interest who asks for financial help or access to your personal information
  • Reverse Mortgage Scams – someone who suggests a reverse mortgage to pay for something or avoid foreclosure

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