People lose a lot of money to scam phone calls — sometimes their life savings. Scammers have figured out countless ways to cheat you out of your money over the phone. The best thing you can do to protect yourself is not to answer calls from numbers you are unfamiliar with. If you answer the phone but don’t recognize the caller, hang up. One thing you can count on is that a phone scammer will try to get your money or your personal information to commit identity theft. Don’t give it to them.
According to the Federal Trade Commission Consumer Advice, here’s how you can recognize a phone scam:
- Often, the caller will tell you that you have been “selected” for a special prize. If you have to pay to get the price, it’s a scam.
- Are they telling you that you will get arrested or deported? Scammers will pretend to be law enforcement or from a federal or local county agency. Their goal is to instill fear and scare you into paying. Actual law enforcement and other government agency will not call and threaten you. Don’t listen to the caller – hang up on them. They don’t know where you live and can’t hurt you.
- If you feel pressured to purchase the spot, hang up. Most legitimate businesses will give you time to think about whether or not you want to purchase their products. Please don’t allow them to pressure you into purchasing something because you are afraid; that they might think you are being rude.
- Don’t be tricked into sending money or gift cards. The scammer will ask you to pay in a way that is hard to get your money back when you discover you have been scammed.
What to do if you’ve been the victim of a scam phone calls
Scams are becoming increasingly sophisticated, and many individuals are becoming victims. This can be distressing, but don’t be embarrassed or humiliated — you’ve been the victim of a crime, and it’s critical that you report it and seek treatment.
If you have been scammed – STOP ALL CONTACT WITH THE SCAMMER. Don’t reply to emails, messages, or letters the scammer has sent you. If you have on the phone with them, hang up. Also, beware of additional scammers who may contact you claiming they want to help you get your money back. Don’t believe them.
Contact your bank and credit card company and tell them that a scammer has targeted you. They might be able to cancel or reverse fraudulent transactions.
Notify the three major credit bureaus:
Equifax
https://www.equifax.com/personal/credit-report-services/
(800) 525-6285
Experian
https://www.experian.com/fraud/center.html#content-01
(888) 397-3742
TransUnion
https://fraud.transunion.com/fa/fraudAlert/landingPage.jsp
(800) 680 -7289
Change all your passwords. As much of a hassle, it’s essential to stop the scammer in their tracks. Although it can be time-consuming, changing all your passwords is an easy and effective way to prevent access to your accounts.
And finally, report the scam to the appropriate agencies. While agencies aren’t always able to track down scammers, they can utilize the information to help find patterns that will help them eventually find the scammers.