Doris, a client in her mid-eighties, has been with us for close to fifteen years now. Her calls and various emails generally involve an overabundance of concern. “Am I being scammed? Is this email for real?” We don’t mind helping a client like Doris. She lives alone and is vulnerable and susceptible to fraud. It is reported that the average dollar loss last year among people over the age of 60 was $83,000. We talked about Microsoft scams last month and will cover other scam tactics this month.
Scams need to stay on the top of our radar. Many scams are deliberately crafted to exploit older adults under the impression that they have significant savings, they are overly trusting and are less comfortable with technology. The FTC and the FBI have released reports that consumers lost between $12 and $16 billion to fraud in 2024. Financial losses back in 2022 were at $3.5 billion
There are so many scams and due to limited space, we will only cover a few. Every month there are a billion attempts by scammers to connect with potential victims in the U.S.
Callers are claiming to be from Google Support. It is a scam. A warning to the 2.5 billion users of Gmail. Gmail phishing scam attacks are on the rise. Google support does not call.
NFC technology is being abused! Near-field communication technology is a technology that allows devices like smart phones and smartwatches to exchange small bits of data with other devices to read NFC equipped cards over relatively short distances. The most popular use of NFC is mobile payments. NFC attacks start with an urgent text or message impersonating a bank security alert, notifying you of a suspicious payment. Victims are asked to call a specific number to dispute the transaction. If you call, you are tricked into checking your banking application, you are asked to confirm your PIN then hold your bank card near your phone so the threat actors can read the details of the card by using NFC.
Text message scams have skyrocketed. Text message scams surged in 2024 costing Americans $470 million in reported losses. Scam texts (Smishing) often look legitimate. They often include a fake bank alert, a bogus delivery issue, phony job offers or a malicious link to pay a bogus toll charge. Scammers use the “spray and pray” method to send out thousands of messages, hoping to ensnare unsuspecting individuals.
AI generated scams can include voice scams, deepfake scams, phishing scams and fake text messages. AI makes it easier to spoof phone numbers that appear to come from local area codes. Generative AI has made it easier to impersonate people’s voices, automating deepfake voice calls allowing criminals to imitate people at scale. Automated systems are designed to churn out millions of messages per day. Do not trust caller ID. Telecom providers have made strides in filtering out spam, but scam messages continue to slip through as legitimate alerts.
Scammers are using bots to convince people to share their two-factor authentication codes. With two-factor authentication, you log in to a given site, enter your password, and then are prompted to enter an authentication code that you either receive via text, phone or email. A fake call or text may appear to come from a legitimate business asking you about a particular charge. If you don’t recognize the charge, you are asked to enter your authentication code. DO NOT respond to anyone asking for an authentication code.
Robocallers continue to use “neighbor spoofing.” Calls displayed on your caller ID are similar to your own phone number, increasing the likelihood that you will answer the call. Robocallers continue to use well known phone numbers as part of scams, such as those of government agencies.
Crypto ATM fraud complaints jumped 99 percent in a year. Crypto-related fraud reached an all-time high in 2024 with total losses of $9.3 billion. These poorly understood exchange points have become a major vector for scammers targeting the elderly.
Pig butchering scams originated in China. These scams are typically cryptocurrency schemes, but they can involve other types of financial trading as well. The scam gets its name from the practice of fattening a pig before slaughter. The victim is gradually lured into making increasing monetary contributions, generally in the form of cryptocurrency, to a seemingly sound investment before the scammer disappears with the contributed funds. Cybercriminals pretending to be a friend, will send a text message looking for an opening to build a relationship. Fraudsters will guide victims on to financial platforms that mimic real crypto exchanges, complete with dashboards, investment advisors, and simulated gains. Victims believe they are seeing real-time profits and are encouraged to invest larger amounts of money. By the time they try to cash out, it’s too late!
In investment fraud, scammers often start on social media or in messaging platforms and dating apps where they slowly build trust through daily conversations, building emotional connections with a victim. Once the victim is comfortable, the scammer will introduce a “can’t miss” investment opportunity which often involves crypto, real estate or exclusive trading platforms. Again, victims are shown manipulated dashboards and phony returns to entice them to deposit more money. Do not fall for get rich quick schemes!
Toll road scams are back. This is a popular scam in Florida. If you receive a toll agency text message demanding money, do not click on the link in the text. Delete the smishing text and use your phone’s “report junk” feature.
Online romance scams are still netting millions of dollars. Scams that once bilked victims out of hundreds of thousands of dollars through gift cards are now increasingly convincing them to move their investment and retirement accounts into phony investment schemes. These schemes have been boosted by the rise of cryptocurrency as a tempting way to get rich quickly.
Sextortion scams have become so widespread that the FBI has sent agents to Nigeria to help track down the perpetrators. Over the past two years, victims have suffered nearly $65 million in financial losses with more than 20 teenage boys dying from suicide. Sextortion scams often begin on social media, where perpetrators pose as young women luring teenage boys into sharing explicit images or videos. Once the content is obtained, the victims are blackmailed with threats of public exposure unless they pay a ransom. The US has extradited suspects from Nigeria who will be held accountable in the American justice system. (Anyone interested can read more about “Operation Artemis” online.)
If you receive an odd text that seems to be meant for someone else, beware! The rise of “wrong number” messages is a new payday for scammers. “Hey, how are you?” “Sorry, I’m running a little late: I’ll meet you later.” These random and innocuous texts are not really a wrong number but an online scammer. Scammers are increasingly turning to “Wrong number” message tactics to get access to personal information. If you respond, you are tricked into building a relationship. Scammers are effective at tapping into our human need for connection. The lonely are vulnerable and may find themselves drawn into connections that can come via text.
The Bottom Line: Cybercriminals are constantly developing new tactics. Scammers are getting better at targeting victims who are more likely to fall for high-dollar cons. If you are a scam victim, contact your local police department and file a police report. You can also file a complaint with the FBI’s Internet Crime Complaint center.Two Techs – your locally owned computer support company. Find Two Techs on the web at www.twotechs.com or email us at: support@twotechs.com or call 352-200-2365. USF, MIS, MCP, A+, Network+ & CISSP (References used Wired, AARP, FBI, PCWorld, PCMag, Forbes, Digita