All scams arrive at the same crossroad – where you are separated from your money
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The FBI's Internet Crime Complaint Center now reports at least $20 billion is lost by 1 million Americans to scammers each year. The scams assume a variety of faces, including romance scams, cryptocurrency, phony investments, or fake lottery and sweepstakes wins. Some scams are quickie deals, lasting no more than a few minutes to hit the victim for a few hundred dollars. Other scams can be highly sophisticated, long-term affairs with multiple players, all working in choreographed schemes to steal the assets from high net-worth victims.
Regardless of the structure of a scam, the goal never changes – steal the victim's money. Scams are structured to take you by surprise and force you to make hasty decisions to pull your money from bank and investment accounts. The idea is to separate you from your money as quickly and permanently as possible. There is no better way to do this than to convince the victim that, for some reason, they should convert their money into cash or gold, and turn it over to a bogus government agent for safe keeping.
Most scams result from a browsing error on the web that delivers you, unwittingly, into the hands of a web-based scammer. As you are casually surfing the web, you stumble into a series of pop-ups or locked screens warning of computer viruses or security issues. When this happens, a while your computer is frozen or going crazy, a pop-up message usually starts flashing in the corner of the screen, saying "click here for tech support."
Never, ever start clicking pop-up buttons. They are gateways to every scam under the sun. If your computer screen is blinking or frozen, calmly hold down the power button until your computer shuts down. Wait for 30 seconds, restart your computer and continue what you were doing.
Scammers are clever folks and their schemes are based on the success of defrauding many people before you. Smooth operators using multiple actors, scripts and technology tricks can make you think you are part of a high-powered law enforcement team fighting to protect your money - while you are being robbed blind.
Hold on to your money. Don't give it away to a scammer. If you are in doubt, call a friend, a neighbor, or the police. Whatever you do - call someone! Do not obey anyone telling you to move your money out of the bank, especially anyone suddenly popping up in your life, claiming to be a "government agent." And as soon as you hear the words, "don't tell anyone about this," stop in your tracks and call your local police department.
It is disheartening, at the very least, to read the scam victim stories that regularly appear in these pages. Scammers are cruel folks, taking pleasure in leaving victims with nothing. Scam awareness and self-education are the best defenses against becoming a victim. Carefully read the scam stories that show up in the Tribune and Vindy, pay attention to how the scams work, and apply the lessons as you surf the web, open the mail, or read through your text messages.
It's just about time to disconnect your garden hose before the first freeze hits -- which may happen over the next few days. We've had a long season of warm weather. The Valley is a beautiful place to live in as we move into fall. Enjoy the cooler weather, and don't let a fast-talking crook separate you from your money.