Year End Scam Review
The online space can be a dangerous place, and that’s why it’s so important to stay informed. The more you know about the scams that are out there, the easier it will be to protect yourself, your privacy, and your money.
As the year 2022 draws to a close, now is the perfect time to review the biggest scams that have emerged during the past 12 months. Some of these scams are new, while others have been around nearly as long as the internet. No matter where they come from or when they first emerged, it’s important to protect yourself, and here is what you need to know about the state of digital privacy in 2022 and beyond.
1. The Geek Squad Renewal Scam
The Geek Squad renewal scam takes advantage of recipients’ familiarity with the popular Best Buy customer service teams, convincing victims that they’re about to be charged for a subscription they had not previously known existed. This scam often originates via email or text message, and those who respond are directed to a nefarious site or a phone number where representatives try to gather billing details and other personal financial information. If you receive one of these emails or texts, it’s best to simply ignore it — and check your credit card statements carefully for any nefarious activity.
2. The Veterans Day Scam
The Veterans Day scam is a particularly insidious form of consumer fraud, one that preys on the good feelings people have about the military and its veterans. As Veterans Day draws near, scammers head online, setting up fake websites, sending out phony fundraising emails, and seeking to separate generous individuals from their money.
The desire to give to veteran-related causes is a good one, and there are many safe ways to help military members and their families. If you want to help veterans on Veterans Day or any day, check out the charity ahead of time, including reviewing their ratings and seeking information about the work they’re doing to help those who need it.
3. Student Loan Relief Scams
Many cheered when President Biden announced eligibility for up to $20,000 in student loan relief, but there was a distinctive lack of clarity about how the program would work and who would be eligible.
Scammers jumped into this void, setting up fake websites, sending out text messages, and bombarding borrowers with unsolicited phone calls. Those who fell victim to the scam had their personal and financial information compromised, so it’s important for everyone else to protect themselves.
As of this writing, student loan relief is on hold due to action by the courts, but when and if applications resume, they will be handled through a government-backed website. Borrowers who need further information should talk to their lenders directly instead of answering unsolicited text messages, phone calls, or emails.
4. Mortgage Alteration Scams
With interest rates on the rise, those with variable-rate mortgages are scrambling to avoid higher payments. Scammers know about that desperation, and they are sending out scam notices promising lower rates on mortgages but delivering nothing of value.
If you are worried about your variable-rate mortgage and concerned about higher payments, the best thing to do is contact your lender directly. There are legitimate ways to refinance your mortgage before rates rise higher, but none of them involves answering unsolicited emails or phone calls.
As you can see, 2022 has been a challenging year for internet users. Online scams are commonplace, and it’s important to treat every incoming phone call, text message, and email missive with a healthy dose of skepticism. It’s safe to assume that 2023 will be a tough year for digital privacy as well, but the more you know, the easier it will be to protect yourself and your finances.