Chances are you know someone who has been a victim of fraud or scams. As a result of the pandemic, fraudsters are finding new ways to find new victims. The good news is that there are simple ways for consumers to stay safe and fight back.
Scammers are always coming up with new ways to get you to part with your money. In a recent Chase survey of 2,000 consumers, 84% of survey respondents agreed that scams and scammers have become more sophisticated in recent years.
To spot fraud, it’s important to learn more about the most widespread scams, how to prevent them and what to do if you think you may be a victim.
Here are tips to help you become more aware of the most common scams out there and what steps you can take so that you can protect your information and keep your hard-earned money safe.
How common are fraud and scams?
Fraud cases are unfortunately becoming more prevalent, and more sophisticated. In fact, the FTC revealed that 3.5 million people reported being a victim of fraud or identity theft in 2020, an increase of more than 1.5 million from the previous year. For Black communities, the problem is even worse with nearly half (40%) of Black adults being targeted by online scams and fraud, according to AARP.
What kind of scams exist that we should be aware of and know how to stop them?
While new scams are always popping up, there are several common approaches that keep resurfacing year after year.
Some of the more common scams we’ve encountered…
