How scammers could take advantage of your desperation for a last-minute gift
With Hanukkah underway and Christmas coming this weekend, plenty of people are scrambling for last-minute gifts but its important to beware of scammers trying to take advantage of your desperation with just a text.
Last holiday season, nearly 75% of Americans were targeted by texting scams. About 30% of people fell for them, totaling about $137 million of stolen funds over that short period of time. Those dollar amounts don't include the identity theft that also occurred.
Text scams that were the most popular last year included delivery scams, prompting victims to click a link to provide personal information or even money to ensure their package will be delivered. Additionally, thieves sent fake fraud alerts posing as your bank. Finally, verification scams such as asking you to verify you Amazon account to continue shopping.
"They're really hoping that they're going to catch you off guard and you want to just make that problem go away and you react so quickly," said Senior Vice President of iconectiv George Cray. "In reality, once you get those that's exactly when you need to stop yourself and slow down because they're really trying to catch you."
To protect themselves, consumers should always validate a message that's asking for money or personal information. It's best to always go directly to the source. Also, never click a link in a text as it opens you up to phishing. Finally, trust a short code over a 10-digit number, because they're easier to spoof.
If you've already fallen for that scam here's what you should do:
- Change all your passwords
- Alert companies to put a freeze on your credit
- And if you've downloaded any software delete it immediately.