The FTC’s Latest Warning: The Scams That Are Fooling People Now

During this year’s National Consumer Protection Week, the Federal Trade Commission (FTC) hosted a webinar to sound the alarm on the most pervasive scams currently targeting consumers. While the specific tactics are constantly evolving, the goal of fraudsters remains the same: to steal your money or personal information by exploiting urgency, fear, and trust.

Understanding these trends isn’t just about being informed—it’s about building a practical defense for your wallet and your data. Here’s a breakdown of the key scam trends highlighted and, most importantly, what you can do about them.

What the FTC is Seeing Now

Based on the latest reports and consumer complaints, several schemes are seeing a significant resurgence or sophisticated new twists.

  • The Impersonation Scam (More Convincing Than Ever): Scammers are no longer just claiming to be from the IRS or tech support. They are now expertly impersonating trusted entities like your bank, a familiar utility company, a parcel delivery service, or even a government agency like the Social Security Administration. The contact often starts with a threatening text, alarming voicemail, or an email that looks deceptively real, pushing you to act immediately to “verify an account,” “stop a transaction,” or “claim a missed package.”
  • The “Too-Good-To-Be-True” Investment or Crypto Scheme: Promises of huge, guaranteed returns with no risk are flooding social media and messaging apps. These often involve fake cryptocurrency platforms or “investment advisors” who pressure you to move money quickly before you “miss out.” Once you send crypto or wire funds, the platform and the contact disappear.
  • The Phishing Email That Almost Looks Legitimate: Phishing attempts have become highly targeted (spear-phishing). You might receive an email that appears to be from a company you actually do business with, complete with logos and similar email addresses. The link, however, leads to a fake login page designed to harvest your credentials.
  • The Fake Check or Overpayment Scam: You’re sent a check (often for a job, a sale, or as a prize) and asked to deposit it and wire a portion of the money back for “fees,” “taxes,” or to a “shipper.” The check is fraudulent, but it can take your bank weeks to discover this. By then, the money you wired is gone, and you’re responsible for the full amount of the bounced check.

These aren’t hypothetical threats. These methods are popular because they work. Scammers use social engineering—manipulating your emotions—to bypass logical thinking. A sense of panic from a “bank fraud alert” or the excitement of a “secret investment opportunity” can make anyone rush to click, call, or send money before pausing to verify.

The financial and emotional toll can be devastating. Beyond the immediate loss, stolen personal information can lead to long-term identity theft issues.

What You Can Do: Practical Protection Strategies

Knowledge is your first line of defense. Here are concrete steps you can take for each major trend.

1. For Impersonation Scams: Verify, Then Trust.

  • Never use the contact information provided in a suspicious message. If you get a call, text, or email from your “bank,” hang up or don’t click. Find the official customer service number on your card or statement and call them directly to ask if there’s a real issue.
  • Know that legitimate organizations will not demand immediate payment via gift cards, wire transfers, or cryptocurrency. This is always a scam.
  • Be skeptical of calls about “suspended” Social Security numbers. The SSA will never call you out of the blue with a threat.

2. For Investment and Crypto Scams: Slow Down.

  • There is no such thing as a guaranteed, high-return, no-risk investment. Treat any offer that claims otherwise as fraudulent.
  • Research before you invest. Check the SEC’s EDGAR database or your state securities regulator to see if the investment is registered.
  • Never invest based solely on advice from someone you met online, especially through direct messages or “friends of friends.”

3. For Sophisticated Phishing: Inspect, Don’t Click.

  • Hover over links (without clicking) to see the actual web address. Look for subtle misspellings or strange domains.
  • Contact the company directly through a known, trusted method if an email seems odd, even if it looks real.
  • Enable multi-factor authentication (MFA) on all important accounts. This adds a critical extra layer of security even if your password is compromised.

4. For Fake Check Scams: Understand Banking Reality.

  • Know that a deposited check “clearing” is not the same as it being verified. By law, banks must make funds available quickly, but it can take much longer for a fake check to be discovered and reversed.
  • Be extremely wary of anyone who sends you a check and asks you to send money elsewhere. It is almost certainly a scam.

Building a Proactive Safety Habit

Beyond these specific steps, make these general practices part of your routine:

  • Report scams: File a report at ReportFraud.ftc.gov. Your report helps the FTC and law enforcement investigate and build cases against scammers.
  • Talk about it: Share your experiences and warnings with friends and family, especially older adults who are frequently targeted.
  • Stay updated: Bookmark the FTC’s consumer advice site (consumer.ftc.gov) for the latest alerts and advice.

Scammers are adaptable, but your skepticism and caution are powerful tools. By recognizing their latest plays and pausing to verify, you can effectively shut down their schemes and protect what’s yours.

Sources & Further Reading:

  • Federal Trade Commission Consumer Alerts: consumer.ftc.gov
  • FTC Report Fraud Portal: reportfraud.ftc.gov
  • Information based on FTC public guidance and consumer alerts issued during National Consumer Protection Week.