No one wants to believe they would fall for a scam, but it can happen to anyone, no matter your age. In fact, according to the FBI’s 2024 Internet Crime Report, individuals 60 and over filed claims totaling over $4.9 billion in losses to scams in 2024.
With some knowledge and a healthy amount of caution, you can avoid scams and safeguard your personal information. To help you stay informed and protect yourself from scams, Chase offers the following six best practices.
1. Avoid answering calls or texts from unknown numbers
Avoid answering calls or responding to texts from unknown numbers, even if you think you may know them. Scammers can spoof phone numbers to appear as local or similar to a familiar person or business. If it’s a fraud or scam attempt and you answer, you could be asked to provide sensitive information.
Consider adding a call protector app to your phone to flag calls that are likely scams.
2. Never share personal information over the internet
Scammers frequently impersonate legitimate companies, organizations, or even law enforcement agencies to trick you into sharing sensitive information and money. Never share personal information over the phone, even with someone claiming to be a representative from your bank or a government agency, like the IRS.
When in doubt, hang up and call the company directly. If the scammer says they represent your bank, call your institution directly using the number on the back of your card to ask if there is a problem.
3. Don’t fall for threats, urgency, or sob stories
Scammers will often try to fool victims by creating a sense of urgency or using emotional manipulation. For example, receiving a call from a utility provider threatening to turn off your power unless you provide bank information.
If you’re concerned that this communication is legitimate, you can look up the institution’s number and call them back directly.
Adults 60 and older reported nearly $390 million in losses to romance scams according to 2024 FBI data. Similarly, if you meet someone online, be cautious if they’re moving too quickly or asking you to provide personal information. It’s possible they are attempting to manipulate you emotionally and financially.
4. Don’t send money
Avoid sending money to anyone you’ve only spoken to online or by phone. This includes traditional methods, like bank transfers and person-to-person (P2P) payments, as well as wire transfers, cryptocurrency, or gift cards.
5. Report it
If you suspect that you’ve been scammed, contact your bank to discuss how to best protect your banking information. Also, verify recent transactions to ensure there is no fraudulent activity on your account and report it to the Federal Trade Commission (FTC) at ReportFraud.FTC.gov.
6. Use free resources available to you
There are many free resources available that can help you monitor and protect your identity and other personal information.
For example, Chase Credit Journey offers free credit and identity monitoring. This includes alerts that let you know if your personal information is exposed in a data breach or on the dark web. You don’t have to be a Chase customer to use it.
Scammers may be sophisticated, but you have the power to stay ahead of them.
Source: BrandPoint (Edited by d-mars.com)
