Signs of a Financial Scam and What to Do About It

We kicked off a new security series this week with a webinar (if you missed it you can catch the replay here) about how to protect yourself from financial scams. For the next few weeks, we’ll be covering: how to identify financial scams, protecting against identity theft, how to stay safe online, passwords and more. What does this have to do with financial wellness? Well, there’s the obvious: keeping your online banking secure protects your money. But there’s also the fact that identity theft can wreck your credit, that scams (online, over the phone, or in person) go after whatever cash you have on hand or your credit card numbers, and that confidence in your security means less stress and worry in your life.

Part of securing your finances is being on the lookout for scams; if you know what they look like you can recognize them early and avoid getting caught up in them. They can be hard to spot since the whole point is to appear legitimate but there are usually a few details that give them away. With the current coronavirus and economic stimulus checks in the news, scammers have been planning for weeks on ways to take advantage of the situation. Watch for things such as a sense of urgency, strange payment methods and a sense of secrecy. These three things are key to most scams. So what can you do if you suspect a scam but aren’t sure? Basically the opposite of what they want.  Read our full article here for all the details.