Scam Alert: Real scammers are using fake alerts to steal money

In a world where scammers take your money by claiming to protect you from scammers, who do you trust?

This year, the Federal Trade Commission (FTC) has reported a rise in scams aimed at older adults. Scammers are posing as businesses, like PayPal, or government agencies, and using fake security alerts to trick victims out of their money.

The FTC reports three common lies that scammers use to create a crisis to get people to act:

1. Someone is using your accounts.
2. Your information is being used to commit crimes.
3. There’s a security problem with your computer.

These lies are used to create a sense of urgency and panic, and then the scammer will offer to help clear up the issue.

For example, you might receive a call from someone claiming to be from PayPal. They might report that your account is being used to conduct illegal activity for which you may be held responsible. This false alarm causes fear. Then they will claim that the only way to solve the problem is to send them money. They may say this money is to secure your account or identity, or to clear your name. They may ask you to pay via money transfer, bitcoin, or even gold.

Another common scam is a Social Security Administration (SSA) imposter scam. In this scam, you may receive an email claiming issues with your account were detected and it will be suspended within 24 hours. The SSA reports that these emails may also include an official-looking attachment. The notice will include a phone number to call. Once you call, the scammer will impersonate an SSA employee, sometimes even using the real name of an employee, in order to get your personal information.

In order to stay safe from these false alarm scammers, the FTC

1. Never transfer or send money to anyone in response to an unexpected call or message.
2. Talk about it with someone you trust. Especially if the stranger on the phone says it’s serious, involves a crime, or claims to be from the government.
3. Verify the story. Contact the organization in question using a phone number, website, or email address you know is real. Don’t use the contact information they provide.

According to the FTC website, “Government agencies will never threaten you, and they’ll never tell you to transfer your money to “protect it,” deposit cash into Bitcoin ATMs, or hand off stacks of cash or gold to a courier.”

Report scams to the FTC online at reportfraud.ftc.gov and report any SSA-specific scams to ssa.gov/scam.