Most of us have received a call informing us we were selected to receive a free vacation or trip somewhere interesting. It’s tempting to believe it’s your lucky day, and to want to go along with the fantastic prize. If we tuned in long enough, we realized there was a catch, often these calls are for timeshare pitches, or vacation club memberships. Typically, the caller asks for a small amount of money you must pay in advance to cover the taxes or nominal fees to be eligible to process your free prize. The caller insists before they can book your trip and “secure your reservation” the fees must be paid by check, wire transfer, or credit card.  Or the caller may say they need to verify your information by having you supply your credit card, bank account information, social security number, or other personal information.

You should never reveal this information to an unknown entity; hang up immediately and assume it’s a scam. If you receive this type of call you should consider filing a complaint with the Federal Trade Commission’s Bureau of Consumer Protection. The FTC received more than 3.2 million reports during 2019, and those who lost money from scams reported a median loss of $1,000 in 2019.

The other popular method criminals are using to uncover your personal information is through fake text messages. These messages can be deceiving, for example, you may receive a text message from a well-known company indicating they need you to get in contact with them. These messages are most often an attempt to fool you into providing your personal information such as your password, account number, or Social Security number. If they obtain your private information, they could gain access to your email, or online merchant accounts. Many of these fraudsters will try and sell your information to other cyber criminals on the dark web, which is a subset of the internet requiring special software, to anonymously conduct illegal business. If you receive one of these messages and you have any doubt about its validity, you should call the company’s established phone number and ask to speak to their customer service department. They will be able to validate if there is an issue you need to address.

According to ConsumerFraudReporting.org, the top 10 List of Scams reported to the CFR, FTC, Fraud.org and BBB (Better Business Bureau) during 2021 include:

1. Debt Collection

2. Fake Government Officials

3. Identity Theft, Phishing and Pharming

4. Phone scams

5. Loans Scams / Credit Fixers

6. Fake Prizes, Sweepstakes, Free Gifts, Lottery Scams

7. Internet merchandise scams

8. Automobile-Related Complaints

9. Credit Bureaus and related credit scams

10. Phishing/Spoofing Emails

The best way to not fall victim to these scams is to question any request that could divulge your personal information and double check that the request is legit. Always guard your personal information and be very careful who you divulge it to.