Many years ago, I met a neighbor – who, despite being in his late 80s – was quite sharp and fiercely independent. He received a desperate telephone call from his grandson explaining that he had been arrested and needed help with bail money right away. He asked his grandfather not to contact his mom. When he hung up with his grandson, he called his best friend. That friend told the man not to send any money for bail.
Scammers know and understand that grandparents only want a close, loving relationship with their grandchildren. As a result, sometimes this requires keeping secrets from their grandchild’s parents. Scammers know and understand this fact, so they exploit that very special bond. Thankfully, this elderly man did not fall for this scam. Unfortunately, there have been numerous people who have.
The Rise of the Digital Age Has Increased Scams
It is a known fact that there have always been a variety of scams, but the rise of the digital age has resulted in an increase in scams. Actually, it has been established that most adults within the United States have been targeted by a scam attempt or attack online. According to statistics, most people who are targeted are the elderly. This is because, simply put, that is who usually has the most money.
Those who are 55 years old and older own most of the wealth throughout the nation. Additionally, approximately one out of every nine senior Citizens has Alzheimer’s disease or another type of dementia. When you combine these two facts, it is really no wonder that older Americans are being targeted the most in scams.
What Makes it So Easy to Get Scammed?
Those who scam people are quite opportunistic. They are also getting more sophisticated in their schemes. Personal information is being more exposed than it ever has before. As a result of this fact, there are more opportunities for scammers to engage in activities that are illegal, like scams and identity theft. There have been numerous advancements in the following:
- Artificial Intelligence (AI)
- Deepfake Technology
- Websites
- Social Media
- Audio Clips
- Video Clips
Many scammers have even engaged in the creation of websites that look very similar to trusted companies and/or brands, loved ones, and government agencies.
Then, there are scams that are created that are designed to trigger very strong emotional reactions. Examples include those that instill fear, push for sympathy, and/or result in a strong sense of urgency. The following outlines a few of the ways that scammers use the emotions of their potential victims to succeed in their endeavor:
- Scams for Digital Payments – Let’s say your mom received an email from PayPal serving as a receipt for amusement park tickets she never purchased. She calls the number listed in the email for assistance. An agent who is fake answers the calls, lets her know that they will work it all out. Immediately thereafter, they ask for her name, email, and bank details. Then, they use the bank information to transfer money from her account to their account, where they will have direct access to her money.
- Fake URL/QR Scams – Ella scans a QR code on a flyer that is advertising free spa sessions in her area. It looks official as it is posted in her doctor’s office. Unfortunately, when she scans the URL or the QR code, it immediately obtains her personal information illegally and instantly installs malware on her cell phone. Many days later, she sees suspicious and unauthorized activity in both her email and her bank account.
- Government Imposter – James received a call from a person claiming that they were from Medicare. They inform him that the benefits that he currently has will be stopped or cut unless he is able to confirm his Social Security number. He immediately provides the caller, and within minutes, his identity is stolen, and he ends up battling a disaster full of financial chaos for many years to come.
Anyone May Fall for Any Type of Scam
Scammers do not focus on what you may or may not know. They place an emphasis on what you are feeling in a specific time period. The tactics that they use are designed to cloud your judgment and make an impulsive-like decision, or many impulsive decisions. Experiencing the right conditions and under the right level of distress can cause anyone to be vulnerable. Continue reading to learn about many of the most common methods that scammers use to scam people:
- Scare Tactics That Involve Tech or Digital Products – Scammers are good at letting you know that you must act very quickly. Many may get pop-ups on their PC or mobile device that make them believe that the device is infected with a virus. Someone from “Social Security” (not really, but they state that they are) will request that you confirm your Social Security number, or else it will be suspended.
- Strange Emails or Sender Names – Many scammers will send emails from weird email addresses and will include very odd sender names. You should always check the sender’s name and/or email address. If something looks suspicious, trust your gut. You should close the email, do not click on anything in the email, and you should block and report the sender immediately to your email provider.
- Language Complications – If you receive any type of communication that displays language issues such as misspellings, improper grammar, weird wording, or even odd symbols, it is likely a scam. Close, block, and report.
- Requests for Personal or Financial Information – If you get any messages that ask for your personal or financial information, never give it away. If you know the company, give them a call yourself and inquire as to whether or not they have attempted to contact you. In most cases, you will find that they did not.
- Threats and Messages from Authority Figures – If you receive any threats or messages that seem unusual from authority figures – such as cops, lawyers, and/or political figures- it is likely a scam. You may delete the message. The caller may claim that you owe a speeding ticket, that you failed to arrive for jury duty, and/or that you owe toll fees that have not been paid and that you must pay them immediately. If an agency or authority figure has legitimate business with you, they will contact you – typically – through snail mail or through the USPS.
- Strange Friend Requests or Messages on social media – many scammers will create a fake profile to impersonate someone that you may have known. They may send you a friend request that is out of the blue or may send an odd message. These profiles may impersonate a friend, a previous romantic interest, or someone you work with or live near. In the end, they will attempt to ask for money, personal-based information, or will encourage you to click on links that are malicious.
- Suspicious Phone Calls from Unknown or Unverified Phone Numbers – These scammers will often call and attempt to impersonate people that you know or people from financial institutions – such as your bank, health insurance company, or your loan company. They then record your voice when you speak so that it may be duplicated in order to make more suspicious phone calls to people that you know.
Key Features Associated with Scams
The following outlines many key features that are typically associated with preventing yourself from becoming a victim of a scam:
- You should monitor your entire financial picture. This includes your checking account, saving account, any investments that you have made, credit card statements, and/or your retirement accounts.
- You may set up alerts with your finances that may be set up with a designated relative, neighbor, or friend, without allowing them the ability to move or manage funds.
- You should get your annual credit bureau reports from all three bureaus, ensure that the dark web is under surveillance for your personal information, and all holdings associated with any real estate that you own.
- You should make sure that your email is monitored for suspicious activity.
- If you become the victim of identity theft or any type of fraud, you should get support through recovery resources, remediation programs, and other types of support services.
Contact Us
We here at Somerville Bank offer numerous programs and features for our clients. These include safety monitoring, identity theft services, mobile banking, and online banking, and we are backed by over a century. If you want a bank with massive features, but hometown friendliness, check us out here at Somerville Bank. We have a total of 8 locations within the State of Ohio. We pride ourselves on being local, loyal, and a lifetime bank that is perfect for any customer – young or old- and from any walk of life. If you are interested in checking us out, click on the following link to find a location near you: https://somervillebank.net/locations/
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