Saving money is important. Protecting the money you’ve already saved is just as important.
Scams continue to become more sophisticated, and fraudsters often rely on urgency, fear or excitement to convince people to act before they have time to think.
One of the best defenses is simply slowing down.
Be cautious when someone contacts you unexpectedly and asks for money, personal information, passwords or account details.
Scammers may pretend to be your bank or credit union, a government agency, a delivery company, a family member or even someone you know. They may claim there’s a problem with your account or that immediate action is required.
Don’t let urgency make the decision for you.
If someone contacts you claiming to represent a financial institution, don’t use the phone number or link they provide in the message. Instead, contact the organization directly using a trusted phone number or website.
Be especially careful with requests involving gift cards, cryptocurrency, wire transfers or payment apps. These payment methods can be difficult to reverse once money has been sent.
Also remember that legitimate organizations generally won’t ask you to provide your password or security credentials through an unexpected text message or email.
Take a moment to inspect suspicious messages. Look for unusual email addresses, spelling errors, unexpected links or requests that don’t make sense.
And talk about scams with your family. Older adults aren’t the only people who can be targeted. Children, teenagers and younger adults can encounter scams through social media, online marketplaces, gaming platforms and text messages.
If something feels wrong, stop.
You don’t have to respond immediately. You don’t have to click the link. And you don’t have to make a payment simply because someone says it’s urgent.
When it comes to protecting your money, taking an extra minute to verify something can be worth far more than the inconvenience.
