Protecting Yourself From Online Scammers

What would happen if you fell victim to online scammers? 

As we prepare for retirement, we’re doing all the things to secure our savings, line up legal documents, and prepare for the next 30+ years of adventure and freedom. Online scams are becoming more prevalent and falling victim to these scams could definitely throw all our well-laid plans completely off track. 

In this episode, not only will we discuss the most common scams and how to avoid falling for them, but I’ll also provide some guidance for those who have already fallen victim to scams. 

I’ll share about how anyone, even my smart, successful business-owning grandfather became a victim of a scam so you have proof you aren’t alone in this fight. 

Scammers often play games where they get to know their victims in an effort to gain their trust. They also prey on their victims emotions, taking advantage of their feeling embarrassed about becoming a scam victim.  

A lot has changed in the past 20 years and scams have adjusted to take advantage of text and email communication. Scams are more sophisticated and more convincing than ever and able to catch people off guard. The vast majority of individuals we encounter in our everyday lives are honest, hardworking, kind individuals, and sometimes it’s that optimism that allows us to fall prey.

So, what are the most common scams you should know about?

Phone Call Scams- These are becoming more prevalent. Scammers pretend to be representatives of the IRS, credit card companies, and so on. They make unsolicited phone calls and try to trick you into disclosing private, financial details, account numbers, or identity-related information.

Grandparent Scam- You’ll get a call from a scammer pretending to be a relative who needs your help to bail them out of jail or another similarly dire situation. 

Romance Scam- This scam involves your money and your feelings, as the scammer may pretend to be a romantic interest. Scammers will ask for money once they’ve established a “relationship” with you.

Lottery Winnings - Using your personal details, the scammer will call and say they’re the representative of a recent lottery winner who wants to share their winnings. The catch is you have to submit a bit of cash as a “transfer fee.” Surprise, the lottery winnings never hit your account and they took your fee and skipped town.

In this episode, you’ll also hear:

• Before clicking on any links in an email you don't recognize, take a closer look at it
• When it comes to fraud, the inheritance or windfall transfer tax scheme is among the most popular
• What to do if you have fallen victim to a scam 

Must-listen moments: 

[00:04:19] My grandfather’s story of how he fell victim to a scammer 

[00:10:10] Why scammers think it’s easy for them to get away 

[00:23:53] What to do when a scammer presents documentation in which looks legitimate 

Thank you for listening! Please share this episode with 2 friends you think need to hear it!

Follow Danette Lowe on Linkedin

For resources and additional guidance around retirement planning, visit www.trunorthwealth.com

Blogs Mentioned: 

What Are Social Engineering Scams + How Can You Avoid Them 

Online Scam Awareness + How to Protect Yourself

Contact Danette Lowe:

Email: [email protected]

Phone Number: 775-364-0010