Top 10 Consumer Scams and How to Avoid Them

Criminals are always trying to scam their way into easy money. The Federal Communications Commission (FCC) and the Federal Trade Commission (FTC) estimate U.S. citizens receive upwards of 300 million spam and scam messages every day via email and text. That’s a lot of illicit attempts to steal identities, passwords, and money. Even if a small percentage fall for those scams, that’s still millions of victims — every single day. Let’s look at today’s top 10 most common scams and how you can avoid them. 

1. Bank Fraud Scams: In this scam, criminals impersonate a bank or credit union, urging people to log into their accounts or transfer funds. To avoid this scam, ensure the email, text, call, or letter is really from your financial institution. The Best way to do this is to call using a number you trust. 
2. AI Voice Cloning Emergency Scam:  Scammers use artificial intelligence to mimic the voice of someone you know. They then ask for money for an emergency. If Someone you know (or someone who sounds like someone you know) asks you to pay them with cryptocurrency or gift cards, it’s almost certainly a scam. 
3. Government Impersonator: Criminals pretend to be from the IRS or Social Security office and demand that you pay back money received in error. If anyone from the government calls, be skeptical. Federal agencies almost always send a letter first, and they do not threaten you with jail time if you don’t make immediate payments. 
4. Package Delivery Problem Texts: If you receive a text saying there is an issue with a delivery to your home and that you need to make a payment to resolve it, delete the text. It’s almost certainly a scam. 
5. Wrong Number Texts: Scammers send a text pretending to look for someone other than you. If you reply, they will continue to foster a friendship until one day they ask you for money. The best way to avoid this scam is to delete any text from someone you don’t know. 
6. QR Code Phishing: Criminals paste fake QR code stickers over real ones at parking meters or other places where you use those codes to make payments. Before you use a QR code, be sure it’s not a sticker or a fake sign. 
7. Utility Shutoff Scams: A scammer calls pretending to be from the electric, gas, or internet company. They will explain that you are behind on your payments and that, to keep things on, you must pay them immediately. Don’t fall for it. Instead, hang up and call your utility provider directly. Chances are, it’s totally fake. 
8. Fake Charity Scams: Following a natural disaster, criminals will start dialing for dollars, asking people to donate to a fictitious charity to help those in need. Before giving to any charity, use sites like charitynavigator.org to verify the legitimacy of a nonprofit. 
9. Social Media Account Takeover: After getting access to someone’s social media account, criminals will send money requests to friends and family along with fake websites designed to steal credit card information. To avoid this scam, connect directly with a friend who might be in need. 
10. Student Loan Forgiveness Scam: Scammers target student loan borrowers promising to help reduce debt or lower payments in exchange for an upfront fee. Delete the email or text. These are almost always scams, or, at best, services you can do yourself at no cost.