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What are Some Top Scams to Watch Out for in 2023?

These scams are not the only scams to watch out for in 2023—they are what we can expect right out of the gate in 2023. Be vigilant.

1. Cryptocurrency-romance scam

Crooks combine crypto and old-fashioned romance scams, posing as Internet love interests to entice their targets into downloading an app and investing in fake crypto accounts. While the app displays data showing your wealth growing, criminals take your money.

What to do? Carefully scrutinize any investment opportunity, even if you think you’re a sophisticated investor. Too good to be true?

2. Payday loan scam

Criminals offer workers fake payday loans that they claim will help people settle their bills. Loan applicants are told they’ll need to prepay a fee. The money goes into the crooks’ pockets, and the applicant gets nothing. Such a scam takes advantage of the desperate. 

How to stop it? Be wary of anyone asking you to pay any loan fee with a gift card or other nontraceable payment.

3. One-time password (OTP) bot scam

Scammers utilize automated programs to trick people into sharing the two-factor authentication codes sent to them via text or email from financial institutions and other companies. The bot will make a robocall or send a text that appears to come from a bank, asking you to authorize a charge, then it asks you to enter the authentication code you’ve been sent if the transaction isn’t yours. 

Now what? Never share authentication codes, or provide other information in response to an unsolicited phone call or text.

4. Student loan forgiveness scam

Scammers build phony application sites to steal applicants’ Social Security numbers and bank information. Sometimes, they contact targets by phone, pressuring them into applying and charging a fee for their help. 

What to do? Go to your official loan institute to keep track of any forgiveness programs.

5. Puppy purchase scam

This happens every January. By advertising adorable puppies for sale online, scammers attempt to take advantage of dog lovers. In one incident, which the BBB has documented, a woman paid $850 for a Dalmatian puppy only to be asked for more money: first, $725 for the dog’s travel insurance, then $615 for a special box. The buyer ultimately lost $2,200 and never received the puppy, which never existed. 

Now what? Before browsing online, visit an animal shelter and look at the pets there. There are so many.

Stop the fraudsters

Join over 800 cyber-aware consumers who have downloaded our FraudsterApp.

To learn more about consumer concerns, you can download our mobile app, FRAUDSTER, available on Apple and Android. You can learn more at www.FraudsterApp.com

If you’ve already downloaded the FraudsterApp, click the training icon on the home screen to learn to protect yourself.

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