Broker Check

Modern Day Scams To Avoid

| September 27, 2019

The possibility of being targeted for a scam or a malicious scheme is well-known, and you
may be aware of some of the more common or outdated scams. Today’s criminals,
however, are increasingly devious. They know that many people are onto their efforts, so
they can go to great lengths to trick consumers like you into providing vital personal or
financial details to them. This may include everything from your bank account or credit card
account info to your Social Security number, account password and other details. These are
some of the more advanced schemes that you should aware of.

Delivery Confirmation Scam
Most e-commerce companies will send a delivery confirmation email to the recipient as
soon as a package is delivered. Scammers can send a bogus confirmation that may look
almost identical to a real confirmation. When an unsuspecting person receives a delivery
confirmation for an item that they do not recall ordering, their inclination may be to click on
the link in the email and to review the order. This link is part of a phishing scheme that will
collect your user ID and password for the account. If you receive a delivery confirmation
email like this, avoid clicking the link. Always check on the order status through the app or
by directly typing in the company’s URL before logging in.

Special Events Ticket Scam
Another scam involves special events tickets, such as for a concert or a major sporting
event. This is a type of phishing scam as well, but it will collect your payment information
rather than a user ID and password. If you receive an offer that seems too good to be true,
it may be a scam. Rather than clicking on any link provided to you in an email, open a new
screen or use your app to explore the legitimacy of the offer. In addition, never call a phone
number listed in an email. Always research the phone number independently.

Payment Declined Phishing Scam
Some scammers attempt to collect financial details or your account login credentials via an
email stating that your payment has been declined. Upon receiving this type of email, you
may initially feel a sense of dread or concern since you may not recollect making a
payment. This may motivate you to click on links in the email so that you can research the

Fake Mobile Banking Apps
You do not need to click on bogus links in an email to fall victim to a scam. Some criminals
have developed apps that look similar to those of major financial institutions, and they
collect personal and financial data through their fake app. Conduct due diligence before
downloading a banking app. This also applies to apps for investments, stock trading, credit
cards and more.

We value your business and actively safeguard your data. Rest assured that we will never
ask for your Social Security number, account number or bank info over the phone. We
encourage you to take security precautions on your end as well. For example, never share
your password, and change it periodically. Also, do not provide your financial details via
email or to an untrusted and unverified party.
Criminals are increasingly savvy, stay updated about the latest scams going forward so that
you can take necessary precautions.

This material was created for educational and informational purposes only and is not
intended as ERISA, tax, legal or investment advice. If you are seeking investment advice
specific to you needs, such advice services must be obtained on your own separate from this
educational material.