How Higher Costs Are Making You More Vulnerable to Scams—and What to Do

When money gets tight, it’s natural to look for ways to save, borrow, or earn quickly. Scammers know this, and they adjust their tactics accordingly. A recent survey covered by Fox 59 found that rising costs are increasing scam risks across the country. While the full details of that survey aren’t yet public, the pattern is familiar: financial strain makes people more willing to take chances they wouldn’t normally consider. This article explains why that happens and offers concrete steps you can take to protect yourself and your family.

What Happened

According to a report published by Fox 59 on June 15, 2026, a survey indicated a direct link between higher costs of living and an elevated vulnerability to scams. The report did not name the survey’s sponsor or its exact methodology, but it highlighted a trend that consumer protection agencies have warned about for years: during economic downturns, scam reports tend to rise. The Fox 59 piece cited examples such as fake loan offers, bogus debt relief services, and fraudulent government grant schemes that specifically target people struggling with inflation.

Why It Matters

Scams succeed because they exploit emotional and psychological states. When you’re worried about paying rent or putting food on the table, a “too good to be true” offer can look like a lifeline. Common pressure tactics include:

  • Creating urgency. Scammers say the offer expires in a few hours, pushing you to act without thinking.
  • Appealing to authority or fear. They pretend to be from the IRS, a bank, or a government agency, threatening penalties or promising relief.
  • Preying on hope. Unsolicited investment opportunities, work-from-home jobs, or prize winnings feel like a way out of a tight spot.

These tactics work best when you’re already stressed. Understanding that vulnerability is the first step to resisting it.

What Readers Can Do

Recognize the Top Scams During High-Cost Periods

Based on reports from the Federal Trade Commission and nonprofit consumer groups, keep an eye out for:

  • Loan scams. You’re offered a low-interest loan but must pay an upfront “processing fee.” Legitimate lenders never ask for money before you receive the loan.
  • Fake debt relief. Someone promises to reduce your credit card debt or student loans for a fee. Many of these companies do nothing legal, and some steal your personal information.
  • Phony government grants. You hear about a “new stimulus” or “energy assistance” that requires a small payment to unlock. Real government programs are free to apply for and don’t ask for fees or bank details upfront.
  • Too-good-to-be-true deals. Deep discounts on essential goods (groceries, gas, prescription drugs) from unfamiliar websites or social media ads often result in counterfeit items or no delivery at all.

Spot Red Flags

Pause whenever you encounter any of these warning signs:

  • The offer demands payment by wire transfer, gift card, or cryptocurrency.
  • The caller or emailer pressures you to act immediately.
  • You’re asked to share sensitive information (Social Security number, bank account, passwords) before you’ve verified who they are.
  • The company lacks a physical address, a real phone number, or a consistent online presence.

Take Practical Protection Steps

  • Verify before you act. Look up the official website of any agency or company the caller claims to represent. Call them using a number you find independently—not the one the caller gives you.
  • Slow down. A legitimate opportunity will still be there tomorrow. Take a day to talk to someone you trust before sending money or sharing personal data.
  • Enable two-factor authentication on your email and financial accounts. This adds a second layer of security even if a scammer gets your password.
  • Consider a credit freeze. Placing a freeze with the three major credit bureaus (Equifax, Experian, TransUnion) prevents scammers from opening new accounts in your name. It’s free and easy to lift temporarily when you need to apply for credit.
  • Monitor your bank and credit card statements regularly. Look for small test charges that scammers sometimes use before larger thefts.

Report Scams

If you or someone you know is targeted, report it to the Federal Trade Commission at ReportFraud.ftc.gov. You can also file a complaint with your state’s attorney general or consumer protection office. Even if you didn’t lose money, reporting helps authorities spot trends and warn others.

Final Thoughts

Rising costs make life harder, and that difficulty can cloud judgment. By understanding the psychological hooks scammers use and by following a few straightforward checks, you can reduce your risk significantly. Share this information with older relatives and others who might be less familiar with digital scams. Staying informed is one of the best defenses you have.

Sources

  • Fox 59, “Money Matters: Higher costs increasing scam risks, survey says,” June 15, 2026.
  • Federal Trade Commission, “How to Avoid a Scam,” ftc.gov.
  • Consumer Financial Protection Bureau, “Fraud and scams,” consumerfinance.gov.