New year goals and personal resolutions often revolve around individual health and fitness. While both aspects are important to consider, so too is personal finances and learning from the previous year’s lessons.
Unfortunately, 2021 was a year of countless challenges and transitions, creating opportunities for scammers and con artists to take advantage of consumer confusion resulting in the loss of money, time and personal information. The continued perseverance of scammers using new and efficient methods to trick consumers online remains the riskiest scam in the country, with little indication that it will lessen with the new year.
Along with the weight loss and financial goals, BBB recommends adding a few precautionary steps to your New Year’s resolution list to help make the upcoming days and months fraud-free.
I resolve to be cautious with email. Be wary of unsolicited emails from a person or a company. Remember, scammers can make emails look like they are from a legitimate business, government agency, or reputable organization (even BBB!). Never click on links or open attachments in unsolicited emails.
I resolve never to send money to strangers. If you haven’t met a person face-to-face, don’t send them money. This is especially true if the person asks you to transfer funds using a pre-paid debit card or mobile banking app. Money sent to strangers in this way is untraceable, and once it is sent, there is no getting it back. Scammers will try to trick you into making immediate decisions, so before making a move, think the situation through.
I resolve to research before making online payments and purchases. When shopping online, or if asked to make a payment online, research the retailer before entering payment information. Ask yourself a few questions, such as:
- “Is this a person or business I know and trust?”
- “Do they have a working customer service number?”
- “Where is the company physically located?”
- “Would I be making payments through a secure server (https://….com)?”
- “Have I checked to see if others have complained?”
I resolve to use my best judgment when sharing my personal information. Sharing sensitive personal information with scammers opens the door to identity theft. Never share financial information, birth date, address, Social Security/Social Insurance number or Medicare number with an unsolicited caller.
I resolve to be social media savvy. Use privacy settings on social media and only connect with people you know. Be careful about including personal information in your profile and never reveal your address and other sensitive information — even in a “fun” quiz. Scammers may use this information to make themselves pass as a friend or relative and earn your trust. Also, be careful when buying products you see on social media. BBB Scam Tracker has received thousands of complaints about misleading Facebook and Instagram ads.
Visit BBB.org/NewYear for more tips on how to stay fraud-free in 2022.
