Part 1 in a 3-part Series on Scams
Scams are on the rise, and no one is immune. People of all ages and levels of financial experience have been and continue to be affected. The first step in protecting yourself from becoming a victim is to be aware of the types of scams and the telltale signs that they may have targeted you.
At Capital Advantage, protecting our client’s assets and data is of the highest priority. To help protect you and your loved ones from being scammed, we have created a 3-part series covering the most common types of scams our clients have encountered. By reviewing this information, maintaining best practices, and exercising caution in your phone and online activities, you are taking important steps towards protecting yourself.
What is a scam?
A scam is a dishonest or fraudulent scheme. In a typical scam, victims are convinced to send money or provide personal and financial information, believing it’s for a legitimate purpose or going to a trusted recipient. Communications from scammers can originate from almost any source—including mail, email, social media, telephone, text message, even computer pop-up messages—and are often made to appear as though they are from trustworthy parties.
For people over the age of 60, the tech support scam was the most reported online fraud in 2021, increased by 51% since 2019.1
Tech and Fraud Support Scams
Scammers often exploit your fears—fear of computer viruses and fear of hackers trying to steal your money or identity.
Some scammers pretend to be connected with well-known companies, such as Apple, Microsoft, or Amazon. Others claim to be employees of a familiar security software company, such as Norton or McAfee. Their storylines vary based on the company they’re pretending to be with, but the tactics are always similar.
Tech Support Scams
This scam typically starts when you respond to an unsolicited phone call or pop-up warning on your device (computer, mobile phone, etc.). The scammer will ask for remote access to your computer to fix a bogus problem with your device or run a fake test, which pretends to…(click here to read full article)