The Scams You Need to Watch Out For Now (and How to Stop Them)

Every year, scammers refine their tactics, using new technologies and current events to make their schemes more convincing. During a recent webinar for National Consumer Protection Week, the Federal Trade Commission (FTC) spotlighted several evolving trends that are catching people off guard. The core message is that while the technology changes, the goal remains the same: to trick you into giving up money or sensitive personal information.

Understanding these specific methods is your first line of defense. Here’s a look at some of the prominent scams making the rounds and concrete steps you can take to protect yourself.

The Rise of Sophisticated Impersonation Scams

Scammers are getting better at pretending to be someone you trust. This goes beyond the poorly-worded “prince” email.

  • Business and Government Impersonation: You might get a call, text, or email that appears to come from a well-known company like Amazon, Microsoft, or your bank, or from a government agency like the Social Security Administration or the IRS. The message often claims there’s a problem with your account, a suspicious charge, or a legal issue. The sense of urgency is high, pushing you to click a link, call a provided number, or give remote access to your computer to “fix” the problem.
  • The “Friend or Family” Emergency Scam: This preys on your emotions. A scammer, often using a spoofed phone number or a hacked social media account, poses as a grandchild, niece, or close friend. They’ll claim to be in a sudden crisis—arrested, in a car accident, or stranded—and beg for money to be sent immediately via wire transfer, gift cards, or cryptocurrency. They’ll plead with you not to tell other family members, adding to the pressure.

How to Protect Yourself:

  • Verify Contact Independently: If you get an urgent message, don’t use the contact information provided in it. Instead, look up the official phone number or website of the company or agency yourself and contact them directly to ask if the issue is real.
  • Slow Down: Scammers rely on panic. A legitimate organization will give you time to verify the situation. No government agency will demand immediate payment via gift cards or wire transfer.
  • Create a Code Word: With family, consider having a simple, shared code word that can be used to verify identity in a real emergency over the phone.

Digital Payment and Investment Frauds

The convenience of digital payments is a double-edged sword. Once money is sent via certain methods, it is nearly impossible to recover.

  • Fake Investment “Opportunities”: These scams promise huge, guaranteed returns with little risk, often centered around cryptocurrency, forex trading, or other complex assets. They use fake testimonials and sophisticated-looking (but fake) websites to appear legitimate. The hook is often made on social media or through a direct message.
  • Online Purchase Scams: You see an amazing deal on social media, a classified ad, or even a website that looks professional. You pay—often using peer-to-peer apps like Zelle, Venmo, or Cash App—but the item never arrives, or it’s a cheap counterfeit. The seller disappears once the payment clears.

How to Protect Yourself:

  • Research Before You Invest: Check if the investment platform and the person promoting it are registered with the SEC or your state securities regulator. Be deeply skeptical of “can’t miss” opportunities.
  • Use Secure Payment Methods: For online purchases from individuals or unfamiliar stores, use a credit card or a payment service that offers purchase protection. Avoid using peer-to-peer apps for transactions with strangers, as these payments are like sending cash.
  • Reverse Image Search: If a deal seems too good to be true, do a reverse image search on the product photo. Scammers often steal images from legitimate listings.

What to Do If You Suspect or Fall Victim to a Scam

Even the most cautious person can be targeted. If something feels wrong, or if you’ve already lost money or information, act quickly.

  1. Stop All Contact. Cease communicating with the scammer immediately.
  2. Secure Your Accounts. If you shared passwords or account details, change those passwords immediately. If you gave remote access to your computer, run a full antivirus scan and consider seeking professional tech support.
  3. Report It. File a report with the FTC at ReportFraud.ftc.gov. This helps law enforcement track scam patterns and can aid in investigations. Also report to your local police, especially if there is a financial loss.
  4. Notify Your Financial Institutions. Contact your bank, credit card company, or payment app to report unauthorized transactions. They may be able to stop a payment or secure your account.
  5. Place a Fraud Alert. If you shared sensitive information like your Social Security number, consider placing a free fraud alert on your credit reports at one of the three major bureaus (Experian, Equifax, TransUnion).

Staying informed is a powerful tool. Scams evolve, but the principles of self-protection—skepticism, verification, and slowing down—remain constant. For ongoing updates and resources, the FTC’s consumer website is an authoritative and free source of information.