Better Business Bureau Releases Top Scams of 2020

According to the Better Business Bureau, the following were some of the Top Scams of 2020.  Many are new twists on existing scams, but scammers become more sophisticated every year in how they spoof trusted brands and how they fool consumers.

1. Internal Revenue Service (IRS) – Scammers are posing as IRS agents claim you owe back taxes and threaten lawsuits and arrest if payment is not sent immediately.  Keep in mind, the IRS does not make threatening phone calls.
2. Sweepstakes/Lottery/Prizes – Winning the sweepstakes, dream vacation, large amounts of money, a new car, shopping spree or new technology sounds great especially if you didn’t enter to win.  Remember, you should never have to pay fees for winning a prize.  You will also never win a lottery you never entered.
3. Phishing/Smishing -  You receive an email or text telling you that you’ve won a contest, a business or someone posing as an official at your place of employments needs to verify your personal information, such as you Social Security number.  Never click on links or open attachments for unsolicited emails and never provide personal information without first verifying the source.
4. Advance Fee Loan – Advance fee lenders charge an upfront fee and will “guarantee” you a loan despite your credit history and chances are you won’t get your money back.  Legitimate financial organizations will always check your credit history.  A lender who isn’t interested in your credit history is an immediate red flag.
5. “Can You Hear Me?” – You get a call from someone who almost immediately asks “Can you hear me?”  Their goal is to get you to answer “Yes,” which most people would do instinctively in that situation.  But in fact, the “person” may just be a robot call recording your conversation…and that “Yes” answer you gave can later be edited to make it should like you authorized a major purchase.  If someone calls and asks “Can you hear me?”, do NOT answer “Yes.”  Just hang up.

​These scams are designed to either steal your money nor, or steal your identity now in order to steal your money later.