Find the full article on BofA’s website here
Knowledge is a powerful defense. Check out these trending scams
Issues with package delivery
“Your package was returned, and you need to reschedule your delivery”
How it works:
- Initial Contact: You receive an email or text indicating there’s an issue with your package or a failed delivery attempt.
- Deceptive instructions: You may be urged to click a link to pay a small fee, provide personal information or a code.
- The scammer wins: After following the instructions, the scammer now has access to your money, and it’s unlikely you’ll see your money again.
Help protect your money – pause, verify, help prevent scams
Verify all requests for information or money. Talk to your friends and family about the tactics scammers use.
Social media
“I was asked to pay an upfront deposit for a good or service”
How it works:
- Initial Contact: Cyber criminals use social media platforms and design posts that lure you into sharing personal information or scam you out of money.
- Deceptive instructions: After seeing the enticing offer, you may be asked to pay up front without the ability to verify the purchase, and in less common ways such as, electronic payment platforms, digital wallets, wires, cryptocurrency and gift cards.
- The scammer wins: Once you send the funds, the scammer will likely block you, stop responding and you won’t receive the goods or services ordered.
Help protect your money – pause, verify, help prevent scams
Be mindful about what information you share and see on social media. Read about social media scams.
Donating money to a cause
“They told me they were raising money for the animal shelter”
How it works:
- Initial Contact: You receive a request to donate money to a charity.
- Deceptive instructions: Use caution if asked to donate money in person, using your phone. You’ll be told to log into your banking app but then told to hand over your phone for the “representative” to input the charity’s information.
- The scammer wins: Scammer’s prey on your generosity. If you hand over your phone to a scammer they are most likely sending the money to themselves.
Help protect your money – pause, verify, help prevent scams
Do your research and look up the organization first, ask questions, and don’t hand over your device to anyone to complete a transaction.
Online sales
“I thought I’d scored really hard-to-get tickets”
How it works:
- Initial Contact: Scammers create a fake website or post a “great deal” on social media for an item you’ve had your eye on.
- Deceptive instructions: They ask you to pay in less common ways less common ways such as, electronic payment platforms, digital wallets, wires, cryptocurrency and gift cards.
- Pressured to act: You’ll be pressured to act quickly so you don’t miss out on the deal.
Help protect your money – pause, verify, help prevent scams
Slow down and use caution if pressured to act quickly. Research the seller and products independently, check reviews for possible scam notices. Most online promotions that sounds too good to be true – typically are.Check out layer more examples of scams and tips to help you be more secure
Know the red flags that signal a scam
Scammers are constantly reinventing new ways to trick people. While their stories may change, their tactics remain the same. Being aware of these red flags should make you pause, verify, and help stay protected:
If you authorize a transfer or send money to a scammer, there’s often little we can do to help get your money back.
Read our tip sheet on talking to friends and family about fraud, scams and cyber security.
Parents, Caregivers and Older Adults
Learn how scammers may target those you love.
Parents
- Review a quick infographic with your kids to teach them about how they can help avoid being scammed
- Read how you can help protect young adults in your life from scams
Caregivers and Older Adults
Check out the resources below that can help protect you and the loved ones from Fraud and Scams
- Review common scams that target elders
- Read about how to help protect the elders in your life
- Know the red flags of senior financial exploitation
- Check out our Elder Financial Care page for additional tools and resources
- Visit the AARP page on scams and fraud layer
- Parents, Caregivers and Older Adults