Apply Now
How to Recognize a Phone Scam

How to Recognize a Phone Scam

by | Jan 29, 2025 | Fraud

How to Recognize a Phone Scam

Fraud

phone-alert-alarm-scam

Have you ever received a phone call and wondered, is this legit? In 2024, scammers stole over $1.03 trillion globally and the majority of these scams are delivered via phone calls or text/SMS messages. * Scammers have figured out countless ways to cheat you out of your money and personal information. They’ll do whatever it takes to commit identity theft, which is why its important to recognize a phone scam.

Phone scams come in many shapes and forms, but they tend to have commonalties. Here’s what to know:

1. There is no prize.

You get a call or text saying you won a sweepstakes, lottery, or prize – like a gift card or iPad – but they say you have to pay money or give account information to receive said prize. If you have to pay to get your prize, it’s a scam. If you have to pay to increase your odds of winning, it’s a scam. (It’s also illegal). If you have to give your financial or personal information, it’s a scam. Plenty of contests are run by reputable marketers but they all have clear rules they must follow, such as saying that entering is free.

2. You won’t be arrested.

Some scammers pretend to be law enforcement or a federal agency. They might say you’ll be arrested, fined, or deported if you don’t pay taxes or claiming you failed to appear for jury duty. The scammer will tell you that you can avoid arrest or other negative consequences by making a payment, including channels like Zelle, Venmo, PayPal, or purchasing a pre-paid card – and then giving the card number to the scammer. The goal is to scare you into paying. But real law enforcement and federal agencies won’t call and threaten you.

3. You don’t need to do anything “now”.

Very rarely will a reputable business request you make a decision “now”.  They will give you time to think their offer over before you commit. Don’t let yourself get pressured into make a decision on the spot.

4. Only scammers demand you pay a certain way.

Never send money to someone you don’t know. Scammers will often insist you pay in ways that make it hard for you to get your money back, including:

  • Wire Transfers
  • Money Transfers
  • P2P (Peer-to-Peer or Person-to-Person) payment services and mobile payment apps
  • Gift Cards
  • Cryptocurrency

5. Government agencies won’t call to confirm your sensitive information.

    You get a call from a government agency. To sound official, they might start by giving you their “employee ID number” and follow it up with information about you, like your name or home address. They often claim to be from the FTC, Social Security Administration, IRS, or Medicare – but sometimes they give you fake agency names. If you get a call like this, hang up and ignore it. No government agency is going to randomly call you and ask for sensitive information, like your Social Security number.

    How to Stop Calls from Scammers

    Now that we’ve covered a few of the common phone scams, it’s important to learn how to stop calls from scammers.

    1. Hang up.

    First and foremost, if you receive a phone call from a scammer or even a company you don’t want to be doing business with, hang up. If it’s a robocall, don’t press any buttons – even when it urges you to press 1 to be removed from their call list.

    1. Consider call blocking or call labeling.

    Scammers do not care if you’re on the National Do Not Call Registry. That’s why blocking a phone number is your best defense against unwanted calls. Not sure how, or not sure what options are available to you with your phone carrier? See what services your carrier offers and look online for the best reviews. The FTC offers great resources on how to block unwanted calls.

    1. Don’t trust your caller ID.

    Scammers have the technology to make any name or number show up on your caller ID. This is called spoofing. You may not be able to tell right away if an incoming call is spoofed. Be extremely careful about responding to any request for personal information. Additionally, do not respond to any questions, especially those that can be answered with “Yes” or “No”.

    If you’ve lost money to a phone scam or have information about the company or scammer who called you, tell the FTC or ReportFraud.ftc.gov.

    If you did not lose money and just want to report a call, use the reporting form at DoNotCall.gov.

    Remember, any information you provide will help stop the scammers. In 2024, 70 percent of scam victims did not report the scam. * Report the number that received the call, the number on your called ID, and any number they told you to call back. By knowing this information, law enforcement and the FTC can track down the scammers behind the call.

     

    *https://www.gasa.org/post/global-state-of-scams-report-2024-1-trillion-stolen-in-12-months-gasa-feedzai

    The content provided in this blog is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by JVB. JVB does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. JVB does not warrant any advice provided by third parties. JVB does not guarantee the accuracy or completeness of the information provided by third parties. JVB recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

    Related Articles

    How to Protect Your Holiday Cheer from Grinches in Disguise

    How to Protect Your Holiday Cheer from Grinches in Disguise

    by | Dec 9, 2024 | Holiday, Fraud

    How to Protect Your Holiday Cheer from Grinches in Disguise

    Family Finances | Fraud

    grinch-holding-present

    As the holiday season approaches, the excitement of gift-giving, family gatherings, and festive celebrations fills the air. Unfortunately, this time of year also brings an increase in scams targeting unsuspecting victims. Scammers are especially active during the holidays, taking advantage of the hustle and bustle to trick people into giving away their money or personal information. Here’s how you can stay safe and protect yourself from holiday scams:

    1. Be Cautious with Online Shopping

    Online shopping is convenient, but it also opens the door for scammers. Here are some tips to ensure a safe shopping experience:

    • Shop from reputable websites: Stick to well-known retailers and avoid unfamiliar sites. Check for reviews and ratings before making a purchase.
    • Look for secure connections: Ensure the website's URL begins with "https://" and has a padlock icon in the address bar. This indicates that the website is using a secure connection.
    • Avoid shopping on public Wi-Fi: Whenever possible, avoid shopping on public “free” Wi-Fi networks. It makes it easier for hackers to intercept your online activities.
    • Beware of deals that seem too good to be true: If a deal seems too good to be true, it probably is. Be cautious of prices that are significantly lower than average.

    2. Watch Out for Phishing Emails and Messages

    Phishing scams are rampant during the holiday season, as scammers send fraudulent emails and messages that appear to be from trusted sources. To protect yourself:

    • Verify sender information: Always check the sender's email address for any discrepancies. Scammers often use addresses that closely resemble legitimate ones.
    • Don’t click on suspicious links: Hover over links to see where they lead before clicking. If you're unsure, visit the official website directly instead of using the link.
    • Look for urgent language: Scammers often create a sense of urgency to provoke immediate action. Take a moment to think before responding.

    3. Be Wary of Charity Scams

    During the holidays, many people feel generous and want to give back to those in need. Unfortunately, this generosity can be exploited by scammers posing as charities. Here’s how to ensure your donations go to legitimate causes:

    • Research the charity: Use resources like Charity Navigator or the Better Business Bureau’s Charity Resources to verify the legitimacy of a charity.
    • Avoid giving personal information: Legitimate charities will not ask for sensitive information like your Social Security number or bank details.
    • Donate directly through official websites: Instead of responding to emails or social media solicitations, go directly to the charity’s official site to make your donation.

    4. Protect Your Personal Information

    The holiday season is a prime time for identity theft. Keep your personal information secure by following these practices:

    • Limit sharing on social media: Be cautious about sharing personal details, especially related to your travel plans or new purchases. Scammers can use this information to target you.
    • Use strong, unique passwords: Create complex passwords for your online accounts and consider using a password manager to keep track of them.
    • Monitor your financial accounts: Regularly check your bank and credit card statements for any unauthorized transactions.

    5. Stay Alert for Package Scams

    With more packages being delivered during the holiday season, scammers may try to take advantage of this by:

    • Tracking scams: Be cautious of fake tracking emails that appear to come from shipping companies. Always verify the tracking number on the carrier’s official website.
    • Porch piracy: Consider using secure delivery options, like package lockers or requiring signatures upon delivery, to prevent theft.

    Conclusion

    As you dive into the holiday festivities, remember to stay vigilant against potential scams. By taking these precautions and being aware of common tactics used by scammers, you can enjoy a safe and joyful holiday season. Share these tips with family and friends to help them stay informed and protected as well. Happy holidays!

    The content provided in this blog is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by JVB. JVB does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. JVB does not warrant any advice provided by third parties. JVB does not guarantee the accuracy or completeness of the information provided by third parties. JVB recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

    Related Articles

    Holiday Travel and TSA Precheck Scams

    Holiday Travel and TSA Precheck Scams

    by | Nov 20, 2024 | Fraud, Holiday, idLock

    Holiday Travel and TSA PreCheck Scams

    Family Finances | FRAUD

    Group of friends taking a selfie

    Do you like waiting in airport security lines during the holidays? Most likely not. Scammers know this and send emails that look like they’re from TSA PreCheck, a service offered by TSA to speed things up. But it’s important to note, these emails are not from TSA. These emails want you to click a link that takes you to a scam website that looks like the official website. If you pay to “enroll” or “renew” your TSA PreCheck, you may not even know you’ve just paid a scammer until you arrive at the security line for your next flight.

    How do you spot these scams?

    First Time

    If it is your first time applying for TSA PreCheck, you won’t pay any application fee online. You must complete the application and pay in person at a TSA enrollment center.

    Reminder: Only a scammer will ask you to pay online.

    Renewing TSA PreCheck

    If you’ve already enrolled in TSA PreCheck, you can renew and pay in-person or online. The real TSA does send out renewal reminder emails, but it is smart to always go directly to tsa.gov/precheck rather than clicking on any links.

    Avoid Scammers

    To avoid scammers, here are a few tips:

    • Don’t click links in unexpected emails or text messages
    • Don’t be rushed to make a payment
    • Always start at tsa.gov/precheck

    Reminder: All TSA PreCheck sites are .gov, not a .com or .org

    More information about enrollment: How do I apply for TSA PreCheck?

    The content provided in this blog is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by JVB. JVB does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. JVB does not warrant any advice provided by third parties. JVB does not guarantee the accuracy or completeness of the information provided by third parties. JVB recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

    Related Articles

    How to Use Fraud Alerts and Credit Freezes: A Step-by-Step Guide

    How to Use Fraud Alerts and Credit Freezes: A Step-by-Step Guide

    by | Oct 24, 2024 | Fraud, idLock

    How to Use Fraud Alerts and Credit Freezes: A Step-by-Step Guide

    Fraud

    confused_girl_in_pink

    In an increasingly digital world, protecting your personal information is more important than ever. With identity theft on the rise, two key tools can help safeguard your financial identity: fraud alerts and credit freezes. Both have their own purposes, but understanding how to use them effectively can give you peace of mind. Let’s look at each option and explore how to properly use them.

    What Are Fraud Alerts?

    A fraud alert is a notice placed on your credit report that signals to lenders and creditors they need to take extra steps to verify your identity before approving new credit accounts.

    There are two main types of fraud alerts:

    • Initial Fraud Alerts: Last for one year and are ideal if you suspect you've been a victim of fraud or if your personal information has been compromised.
    • Extended Fraud Alerts: Last for seven years and are available to individuals who have been confirmed victims of identity theft.

    How to Place a Fraud Alert

    Choose a Credit Bureau: You only need to contact one of the three major credit bureaus (Equifax, Experian, or TransUnion) to place a fraud alert. The bureau you contact will inform the other two.

    • Provide Necessary Information: Be ready to provide your name, address, Social Security number, and date of birth. You may also need to give details about why you are placing the alert.
    • Wait for Confirmation: After you place the alert, the bureau will send you confirmation and update your credit report accordingly.
    • Monitor Your Accounts: Keep an eye on your credit reports and accounts for any suspicious activity during the duration of the fraud alert.

    What Are Credit Freezes?

    A credit freeze is a more stringent measure that restricts access to your credit report. This means that no one, including you, can open new credit accounts in your name until you lift the freeze. It’s an effective way to prevent identity thieves from using your information to secure loans or credit cards.

    How to Place a Credit Freeze

    • Contact Each Credit Bureau: Unlike a fraud alert, you must request a credit freeze from each of the three major credit bureaus individually.
    • Provide Your Information: Similar to placing a fraud alert, you’ll need to provide personal information and possibly answer some security questions.
    • Monitor Your Credit Reports: While your credit report is frozen, it’s a good idea to continue monitoring it for any existing accounts that may show suspicious activity.
    fraudvsfreeze scaled

      When to Use Fraud Alerts vs. Credit Freezes

      • Use Fraud Alerts if you suspect your information has been compromised but are not ready to prevent all access to your credit report. It’s a good first step to add a layer of protection without completely restricting your credit activities.
      • Use Credit Freezes if you are certain that you’ve been a victim of identity theft or if you simply want the highest level of protection for your credit. This is particularly useful if you don’t plan on applying for new credit in the near future.

        When to Use Fraud Alerts vs. Credit Freezes

        • Use Fraud Alerts if you suspect your information has been compromised but are not ready to prevent all access to your credit report. It’s a good first step to add a layer of protection without completely restricting your credit activities.
        • Use Credit Freezes if you are certain that you’ve been a victim of identity theft or if you simply want the highest level of protection for your credit. This is particularly useful if you don’t plan on applying for new credit in the near future.

        Lifting a Fraud Alert or Credit Freeze

        Lifting a Fraud Alert

        You can easily lift a fraud alert by contacting the credit bureau where you placed it and following their instructions. You can choose to remove it entirely or extend it if needed.

        Lifting a Credit Freeze

        To lift a credit freeze, contact each bureau online, by phone, or by mail. You can temporarily lift it for a specific creditor or permanently remove the freeze.

        Final Thoughts

        Understanding and utilizing fraud alerts and credit freezes can significantly enhance your financial security. While they serve different purposes, both tools are essential in the fight against identity theft. Taking proactive steps today can help you protect your future and maintain control over your financial identity.

        Stay vigilant, monitor your credit, and don’t hesitate to use these resources when needed and having a checking account that safeguards your peace of mind. Your financial health is worth it!

        ShieldUp Banner 0824

        The content provided in this blog is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by JVB. JVB does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. JVB does not warrant any advice provided by third parties. JVB does not guarantee the accuracy or completeness of the information provided by third parties. JVB recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

        Related Articles

        7 Ways Social Media Makes You Vulnerable to Identity Theft

        7 Ways Social Media Makes You Vulnerable to Identity Theft

        by | Sep 12, 2024 | Fraud

        7 Ways Social Media Makes You Vulnerable to Identity Theft

        Fraud

        Group of friends taking a selfie

        In an age where our lives are intricately intertwined with social media platforms, the line between what's personal and what's public can easily blur. While we share our thoughts, experiences, and photos with friends and family, we might unknowingly be exposing ourselves to a different kind of audience – identity thieves. Identity theft is a serious threat in the digital age, and social media can unwittingly serve as a goldmine for those seeking to steal personal information. Here are seven ways social media makes you a target for identity theft.

        1. Over-sharing Personal Information

        One of the most common mistakes people make on social media is oversharing personal information. From posting your full name, birthdate, address, and even your phone number, every piece of information you share can potentially be used by identity thieves to piece together your identity.

        2. Location Tagging

        Checking in at your favorite coffee shop or tagging your exact location in a vacation photo might seem harmless, but it can provide valuable information to identity thieves. By knowing your whereabouts, they can track your movements and potentially intercept packages or gain access to your home.

        3. Public Profiles

        Many social media users have public profiles, meaning anyone can view their posts and personal information. Even if you're cautious about what you share, having a public profile exposes you to a wider audience, including cybercriminals looking for easy targets.

        4. Friend Requests from Strangers

        Accepting friend requests from people you don't know opens the door to potential identity theft. Scammers often create fake profiles to gather information about their targets, so it's essential to be wary of who you connect with on social media.

        5. Phishing Scams

        Social media platforms are breeding grounds for phishing scams, where cybercriminals impersonate legitimate organizations or individuals to trick users into revealing sensitive information. These scams can take many forms, including fake customer service inquiries, bogus contests, or fraudulent messages from friends' compromised accounts.

        6. Weak Passwords and Security Settings

        Using weak passwords or neglecting to enable security features on your social media accounts can make it easier for hackers to gain unauthorized access. Once they're in, they can harvest personal information, send malicious links to your contacts, or even lock you out of your account entirely. 

        7. Data Breaches

        Despite social media platforms' efforts to safeguard user data, data breaches can and do occur. When a breach happens, hackers gain access to vast amounts of personal information, including usernames, passwords, and even credit card details. This stolen data can then be used for identity theft or sold on the dark web to the highest bidder.

        The content provided in this blog is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by JVB. JVB does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. JVB does not warrant any advice provided by third parties. JVB does not guarantee the accuracy or completeness of the information provided by third parties. JVB recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

        Related Articles

        Safeguarding Your Identity

        Safeguarding Your Identity

        by | Sep 5, 2024 | Fraud, idLock

        Safeguarding Your Identity

        Fraud | idLock

        Father and daughter dressed as superheroes

        In today's digital age, safeguarding your identity has become more critical than ever before. With the rise of technology, identity theft has become increasingly prevalent, posing a significant threat to individuals and businesses alike. From financial fraud to identity fraud, the consequences of identity theft can be devastating. Therefore, it's imperative to take proactive measures to protect yourself against this growing menace.

        Understanding Identity Theft

        Identity theft occurs when someone unlawfully obtains and uses another person's personal information for fraudulent purposes. This information can include social security numbers, credit card details, bank account information, and more. Cybercriminals employ various techniques to steal this data, including phishing scams, malware attacks, data breaches, and social engineering tactics.

        The repercussions of identity theft can be far-reaching. Victims may suffer financial losses, damage to their credit scores, and even legal troubles resulting from criminal activities committed in their name. Moreover, recovering from identity theft can be a long and arduous process, requiring significant time, effort, and resources.

        That’s why we’ve outlined these essential steps for protecting against Identity theft:

        1. Strengthen Passwords and Use Two-Factor Authentication: Create strong, unique passwords for all your online accounts and regularly update them. Additionally, enable two-factor authentication whenever possible to add an extra layer of security.
        2. Be Cautious of Phishing Attempts: Exercise caution when responding to unsolicited emails, messages, or phone calls requesting personal information. Be wary of links or attachments in suspicious communications, as they may lead to phishing websites or malware downloads.
        3. Secure Your Devices and Networks: Keep your computer, smartphone, and other devices updated with the latest security patches and antivirus software. Use encrypted connections, such as HTTPS, when browsing the internet, and secure your home Wi-Fi network with a strong, unique password.
        4. Monitor Financial Accounts Regularly: Review your bank statements, credit card bills, and credit reports regularly for any unauthorized transactions or suspicious activity. Reporting any discrepancies promptly can help mitigate potential damage.
        5. Safeguard Sensitive Documents: Store important documents, such as passports, social security cards, and financial statements, in a secure location. Shred documents containing personal information before disposing of them to prevent dumpster diving.
        6. Limit Sharing Personal Information: Be cautious about sharing sensitive information online, especially on social media platforms. Avoid posting details such as your full birthdate, address, or financial information that could be used by identity thieves.
        7. Freeze Your Credit Reports: Consider placing a freeze on your credit reports with the major credit bureaus to prevent unauthorized access to your credit information. This can help prevent new accounts from being opened in your name without your knowledge
        8. Educate Yourself About Identity Theft: Stay informed about the latest identity theft trends and scams to recognize potential threats. Educate yourself and your family members about best practices for protecting personal information and staying safe online.
        ShieldUp Banner 0824

         Feel Confident with an idLock Checking Account

        Identity theft is a pervasive and ever-evolving threat that requires proactive measures to mitigate. That’s why we’ve got you covered with IDProtect, an included benefit with our idLock checking accounts. Protecting your identity is not just about protecting your finances; it's about safeguarding your peace of mind and maintaining control over your digital footprint in an increasingly interconnected world.

        The content provided in this blog is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by JVB. JVB does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. JVB does not warrant any advice provided by third parties. JVB does not guarantee the accuracy or completeness of the information provided by third parties. JVB recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

        Related Articles