During 2019, the number of scams that were reported increased. Government impostor scams were one of the most abundant and showed an increase of more than 50 percent. Callers posing as Social Security Administration professionals, police officers, and IRS agents did increase.
It’s not as alarming as you might think. Of the fraudulent calls that were reported, around 10% actually led to financial loss. People are getting smarter at recognizing scams and refusing to hand over money.
If you worry about your parents falling for a scam, there are precautions you can take. Have an open and honest conversation with them about the calls they take and emails they open. If they’re aware of how different scams work, they’re unlikely to fall for one. Read More →