Protect your money and peace of mind by avoiding these common stings
Scammers claiming to be from governmental agencies are preying on consumers at alarming rates. According to the Federal Trade Commission (FTC), Michigan ranked among the top three states for fraud and other complaints in 2015. Plus, the Internal Revenue Service (IRS) says the number of IRS-related scams is 400% higher so far in 2016.
“Attempting to regain one’s funds lost to an imposter scam or to recover from identity theft is emotionally exhausting, time-consuming, and expensive,” says Gayle Brooke, Assistant Vice President at Independent Bank.
Brooke outlines common scams and how to protect yourself:
The Scam: IRS – You owe taxes or penalties. A caller claims you owe taxes and/or penalties and asks you to provide confidential bank routing and account numbers. He may even threaten additional fines or imprisonment to pressure you to comply.
Stay Safe: The IRS only uses U.S. Mail for these types of notifications. If you receive a call, refuse to cooperate, write down the phone number from your caller ID, and report it to the appropriate authorities
The Scam: FTC – You’ve won a prize. A caller impersonating an FTC employee claims to be supervising a prize giveaway and says you must wire money (anywhere from $1,000 to $10,000) to pay for taxes in order to get your prize.
Stay Safe: Legitimate sweepstakes don’t require you to pay insurance, taxes, or shipping to claim what you’ve won. If you do win a real contest, you won’t get the news from the FTC or any other government agency.
The Scam: FBI – You’re under investigation. An email arrives claiming your name has surfaced during an investigation and threatens arrest if you fail to cooperate. The sender demands payment in return for “clearing your good name.”
Stay Safe: Don’t fall for it, and don’t click on any link in the email. The best practice is to delete suspicious email without opening it to avoid viruses or malware that might damage your device.
Suspect a scam? If you receive a suspicious call or email, consider reporting it to Consumer Fraud Reporting or one of the above-mentioned authorities.
Equal Housing Lender