Summer is a hot time for frauds and scams

06/10/2021

Summer is the time to relax, enjoy outdoor activities and have great family vacations. It is also a time that fraudsters like to target unsuspecting people. Awareness is still one of the best ways to avoid becoming a victim.
 
What is the primary vacation scam to avoid?
It starts with too good to be true deals on a condo. The main scam is asking you to wire funds because they can’t returned. After you have wired the money you find out that the property doesn’t exist or that you sent your money to someone who doesn’t own the property.
 
How are homeowners targeted?
Unsolicited home improvement offers for unseen damage. Individuals will say they are a contractor who is giving our free estimates for “storm damage” in your area and that many of your neighbors have already committed to their service. The scam is to either fix something that doesn’t need to be fixed or take a down payment and then never show up to perform the service.
 
How do fraudsters prey on people with college age kids?
The biggest is that they will assert there are guaranteed college scholarships that have went unclaimed and for fee, they will help you get these scholarships. The other twist on this scam is that they want to get you and your child’s personal and banking data so that they can confirm your scholarship funds.
 
Are there other frauds that increase in summer?
Calls or emails claiming to be IRS and that you could go to jail is one of the more popular frauds that increase in the summer.  Their goal is to get you to send them money via credit card or by wiring funds. Another twist on this scam is to get you to provide your social security and other identifying information so they can steal your identity. The IRS doesn’t handle audits in this manner at all and you will have an opportunity to appeal before sending money.
 
What are the best ways to avoid being a victim?
Don’t give out social security number, passwords, or any other personal data unless you contacted a verified business. Don’t be pressured to make a quick decisions. Be aware of commons frauds so you can more easily spot them and finally, verify everything when it comes to any type of financial activity or identity matter.

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