Whether you are a long-time homeowner, a new homeowner, or someone saving toward a down payment on a home, one thing you all have in common is that you have invested a lot of hard work and effort to be able to invest your money for your future. The last thing you want is to be scammed out of that money. Sadly, we live in a world where scammers are abundant. And with new technology and recent events like the introduction of AI (artificial intelligence) and student loan forgiveness, they are finding new ways to steal your identity and your money. But there are techniques you can use to protect yourself.
Follow these tips to avoid being prey for scammers:
- AI Scams
Scammers are utilizing AI (artificial intelligence) to power existing scams, making them more difficult to recognize. For example, scammers might use AI to create phishing emails and texts that look natural and legitimate. They can also use it to impersonate a victim’s friend or relative to ask for money. They can even impersonate an employer asking for personal information. AI can create images, videos and voices of people to make scams more believable. To avoid falling victim to AI scams, NEVER share sensitive information with an unverified contact. Always check the URP of each page you use when using online banking or any platform where you might share sensitive information. Be sure to use passwords that are strong and do not use the same password for multiple accounts. Use the highest security settings possible on all your devices. Finally, if you are using antivirus software, make sure you update it frequently.
- Student Loan Forgiveness Scams
Evil scammers love nothing more than to take advantage of people who are excited by the prospect of having loans forgiven. Beware of emails or phone calls with urgent messages telling you to “hurry up to apply for debt-relief before it’s too late!” They may ask for your social security number and/or bank information, and they will likely charge you a large “application fee”. IT’S A SCAM! Applying for student loan forgiveness costs NOTHING. So, if someone is asking you to pay a fee, you are being scammed. In addition, the U.S. Department of Education will never contact you by phone. If you want to apply for student loan forgiveness, simply go directly to the Department of Education website where you will find accurate and legitimate information about the process.
- Phone Scams
Many scammers use your phone against you. Especially if you have a smartphone with internet access. They use the smartphone’s capabilities to install malware than can infect your devices, lock it and/or take it over allowing them to get into all kinds of fraudulent shenanigans. You can keep your devices safe by making sure they are always updated and have antivirus software. Most importantly, be aware of scammer tactics and DON’T FALL FOR THEM!
Examples of phone scams are:
- Robo Calls – Recorded voices that offer everything from auto warranties to vacation specials. Some may even threaten you to get your attention.
- Impersonators – Scammers will impersonate IRS employees, police, delivery people and even relatives to try to talk you into giving sensitive information that will allow them to steal your identity or take your money.
- Apps – Scammers know how to install malicious apps to steal your information.
- QR codes – Having gained popularity as touchless options at restaurants and such, QR codes are everywhere. Scammers are taking advantage by placing QR codes in inconspicuous places and if you’re not careful you may inadvertently scan it thus providing information and possibly making purchases you didn’t intend to make.
These are just a few ways scammers use phones to take advantage of people. Your best bet is to never accept calls from or communicate with anyone on the phone that you don’t know.
- Text Scams
If you receive a text from a well-known company, such as your bank, a store you frequent, a delivery company or a government agency, be careful! It’s likely a scammer. They may say there has been “suspicious activity on your account”, that you have a past-due bill or that an item couldn’t be delivered but all you have to do is “click on the link” or call “this phone number” to fix it. What they are really doing is trying to get your personal information. You should avoid replying to any texts and contact the companies if you think there is a real problem.
- Payment App Scams (like Zelle or Venmo)
A scammer might call you claiming to be from your bank or credit union and tell you that someone is trying to steal your money using Zelle or Venmo. They will tell you they can help you fix the issue, and they will tell you what to do step-by-step. But they instructions they give you will result in you sending money directly to them.
With an abundance of scams and scammers out there, you must be vigilant to keep your hard-earned money safe. ALWAYS be skeptical when someone contacts you on the phone or via text. NEVER click on unknown links sent via text or to your email. Use multifactor authentication to get into your accounts. It may seem like a pain to do but will be worth it to keep your money safe and secure. Don’t refund overpayments if someone purchases something from you. Likely the original payment was fraudulent. Change your passwords frequently. Report scammers. And take the time to go to the three major credit bureaus to set up a free “security freeze” on your accounts so scammers cannot use your information to procure credit cards and/or loans.
Being aware of the kind of scams there are and knowing what to look for are important steps to take to keep your identity, personal information and money safe and secure.
If you’re thinking about buying or selling a home in the New River Valley area, contact professional, experienced Realtor Desi Sowers and let her assist you with all your real estate needs. Give her a call today at 540-320-1328!