Avoid being a victim of fraud

The Hot Springs County Sheriff’s Office continues its efforts in educating and informing the public on how to prevent someone from becoming a victim of fraud. Fraud perpetrators often solicit their victims and can use a variety of methods or scams. The perps entice the victims in a “too good to be true” scenario or can use fear and threats as well. Typically, the victims of fraud have been in the elderly population, but even young people have fallen prey.

According to the Finra Foundation, “Victimization by scams and fraud depends, in part, on two-way engagement between the target of the scam and the fraudster. Some individuals simply do not engage with a scammer; others engage but at some point recognize the deception and cease engagement. Still, others engage with the fraud and lose money (sometimes a lot of money). Despite the enormous personal and financial costs of fraud victimization, little is understood about the factors that differentiate these three groups.”

“In this survey of 1,408 Americans and Canadians who were targeted and reported a scam, nearly half (47 percent) did not engage with the fraudster and so were not victimized. Thirty percent engaged but did not lose money, yet 23 percent engaged and ultimately lost money. The type of scam and the method by which the respondents were exposed to the offer were highly associated with engaging and losing money. Specifically, scams involving online purchases correlated with the highest levels of engagement and victimization. With regard to modality, survey respondents who engaged and became victims were more likely to report being exposed to those scams on a website or through social media than via telephone, mail, or email. Social isolation and low levels of financial literacy were also associated with engaging and losing money. This research also found that prior knowledge of scams and fraud can reduce susceptibility.”

Here are some potential scams to be aware of:

Romance Scam: Perpetrators pose as interested romantic partners through dating websites to capitalize on their elderly victims’ desire to find companions.

Tech Support Scam: Perpetrators pose as technology support representatives and offer to fix non-existent computer issues—gaining remote access to victims’ devices and, thus, their sensitive information.

Grandparent Scam: Perpetrators pose as a relative—usually a child or grandchild—claiming to be in immediate dire financial need.

Government Impersonation Scam: Perpetrators pose as government employees and threaten to arrest or prosecute victims unless they agree to provide funds or other payments.

Sweepstakes/Charity/Lottery Scam: Perpetrators claim to work for legitimate charitable organizations to gain victims’ trust. Or they claim their targets have won a foreign lottery or sweepstake, which they can collect for a “fee.”

Home Repair Scam: Perpetrators appear in person and charge homeowners in advance for home improvement services that they never provide.

TV/Radio Scam: Perpetrators target potential victims using illegitimate advertisements about legitimate services, such as reverse mortgages or credit repair.

Family/Caregiver Scam: Perpetrators are relatives or acquaintances of the elderly victims and take advantage of them or otherwise get their money.

Level of Engagement

The Finra Foundation also said that in regard to factors related to victimization, “The first step to being victimized by a scam is to engage with a fraudster, so it is heartening to see that nearly half (47 percent) of survey respondents rejected the offer outright. They hung up the phone, closed the link, ignored the email, threw away the mailer, deleted the friend request, or otherwise refused to comply. This refusal to engage was the predominant response in bogus tax and other debt collection scams, and in phishing scams where fraudsters impersonate a trustworthy entity to mislead the target into giving them money. However, 30 percent of respondents engaged to some degree, but ultimately did not lose money, while 23 percent engaged with the fraudster or offer and lost money.”

The FBI also provides advice through Defense and Mitigation. They said to take the following steps may help protect yourself from being victimized:

Recognize scam attempts and end all communication with the perpetrator.

Search online for the contact information (name, email, phone number, addresses) and the proposed offer. Other people have likely posted information online about individuals and businesses trying to run scams.

Resist the pressure to act quickly. Perpetrators create a sense of urgency to produce fear and lure victims into immediate action. Call the police immediately if you feel there is a danger to yourself or a loved one.

Be cautious of unsolicited phone calls, mailings, and door-to-door services offers.

Never give or send any personally identifiable information, money, jewelry, gift cards, or checks—or wire information or funds—to unknown or unverified persons or businesses.

Ensure all computer antivirus and security software and malware protections are up to date. Use reputable anti-virus software and firewalls.

If you receive a pop-up or locked screen on your device, immediately disconnect from the internet and shut down the affected device. Pop-ups are regularly used by perpetrators to spread malicious software. To avoid accidental clicks on or within a pop-up, enable pop-up blockers.

Do not open any emails or click on attachments you do not recognize, and avoid suspicious websites.

If a perpetrator gains access to a device or an account, take precautions to protect your identity; immediately contact your financial institutions to place protections on your accounts, and monitor your accounts and personal information for suspicious activity.

When reporting a scam—regardless of dollar amount—be as descriptive as possible in the complaint by including:

Dates the perpetrator had contact with you, and the methods of communication; Names of the perpetrator and company; Phone numbers, email addresses, and mailing addresses used by the subject; Websites used by the subject company; Method of payment; Account names and numbers and the financial institutions to which you sent funds, including wire transfers and prepaid card payments; Descriptions of interactions with the perpetrator and the instructions you were given.

Complainants are also encouraged to keep all original documentation, emails, faxes, and logs of all communications. Because scams and fraudulent websites appear very quickly, individuals are encouraged to report possible Internet scams and fraudulent websites by filing a complaint with the IC3 at http://www.ic3.gov.

Am I a Victim of Fraud?

If you are not sure if something is a fraud, contact these entities: AARP Fraud watch or Scam Spotter. Also, Call your bank. Verify calls and emails that say they are an organization. If they claim to be Social Security, call SSA. Contact your utility company or Amazon or whatever entity the issue is related to.

How do you prevent fraud?

Review your financial statements frequently for anything unusual. Check your free credit reports. 

Make sure websites are secure and trustworthy before entering information. Verify anyone asking for your information over phone or email. Use secure/trustworthy internet connections—avoid using public networks for your sensitive business, including purchases, payments, and online banking. Only send money to people you know and trust. 

Protect yourself, your account numbers, PIN, passwords, cards. Don’t let other people use your debit/credit cards or checks. Use a firewall, pop-up blocker, anti-virus, do not call list. 

Be vigilant. Stay aware of frauds. Review your statements. If something seems “off” look into it.

Make sure the website is trusted and secure. Use secure connections when available. If you are worried about using a certain payment method, switch. Credit, money orders, gift cards. Be suspicious of unexpected payments. Only send money to people you know and trust. Free credit scores. Passwords, PINs, bio. Don’t put sensitive info in your email address or public info. Don’t share passwords, cards. Don’t share security question information on social media.

What if fraud happens to you? What do you do? 

Contact the FBI and go to their fraud claim website: https://www.ic3.gov/. Contact your bank.You can also contact the Federal Trade Commission or the Better Business Bureau. https://www.ftc.gov/. https://www.bbb.org/.

Also, you can contact the Hot Springs County Sheriff’s officeat 864-2622. They are available to help victims.