Spot and Stop • How to Recognize Scams and Cons
Frauds and scams traditionally preyed by using and abusing trust, blinding the ‘mark’ to criminal reality. Today’s fraudsters are armed with powerful new tools like AI voice cloning, deepfake videos, and hyper-personalized messages.
The result? Losses are soaring. North Americans reported over $12.5 billion in fraud losses in 2024, with imposter scams topping the list and investment fraud causing the biggest financial losses. A recent 2026 survey found 40% of adults experienced some form of financial fraud or scam attempt in the past year.
I am one of those targets as are you and you and you. No one is immune, young or old, tech-savvy or not.
Damage extends beyond financial. Scammers don’t merely steal money; they erode confidence, they damage trust. By knowing most common tactics and defenses can keep you and your loved ones safe.
Top Scams Making Headlines
Imposter scams remain the most frequently reported. Fraudsters pose as banks, government agencies (IRS, Social Security), law enforcement, or trusted companies. They create urgency with fake alerts about ‘suspicious activity’ or ‘frozen accounts’, then pressure targets to transfer funds or share login details or withdraw funds to unmask ‘real’ criminals. Losses from these schemes recently reached $3 billion.
AI enhanced scams are exploding. Initially voice cloning hid Indian or North African accents. Now voice technology lets scammers sound like a grandchild or family member in a crisis, demanding immediate wire transfers or gift cards to alleviate a concocted emergency. On the internet, deepfake videos and emails impersonate celebrities pushing fake investments.
Investment and cryptocurrency scams promise ‘guaranteed’ high returns. Romance phishing scams blend emotional manipulation with financial finagling, building online relationships before inventing crises or ‘opportunities’ that require a quick transfer of money. Employment scams flood job boards and social media with fake offers that ask for upfront fees or personal data.
Online shopping and marketplace frauds trick buyers with too-good-to-be-true deals, while recovery scams target past victims, promising to retrieve lost funds– for another fee. (Chances are your state or province tracks unclaimed funds. Google them. In my state, it’s known as Florida Treasure Hunt.)
On a Personal Level
Most of the time, my phone filters spam and scam calls, but once in a while I snatch up the phone whereupon I encounter a scammer. Sometimes I mess with them. Say IRS agent Marty Melrose (badge number 123456) informs me via this courtesy call before my account entered collections. Marty has a soothing Indian accent, a break from obvious computer generated spiels. Frankly, I am mildly surprised how much scammers know about me, but Agent Marty rapidly gets to the gist of the matter, ‘confirming’ my social security number.
I said, “Okay.”
After several seconds of silence, he said, “Sir, I need to confirm your SSN.”
“Okay,” I said. “I’m waiting.”
“You have to read it to me,” he said.
“I know what my number is. I need to hear it from you.”
“That’s not how it works.”
“You want me to blab my social in a room full of people? That’s not going to happen.” No one else was nearby, but he didn’t need to know that.
“Listen, by law, you have to give me your number. Evasiveness can result in arrest and criminal charges.”
“Nope. Not gonna happen.”
Marty becomes more abusive and threatening, declaring federal agents will appear on my doorstep within 30 minutes to arrest me. I laugh. I swear I hear his headset smash against his desk before disconnection.
And then…
Several evenings ago, my phone rings, showing my bank’s name on caller ID. The man on the other end purports to be my bank following up on suspicious card activity. He rattles off several large purchases in Texas.
This has happened before, usually from the credit card company, not my little bank. Typically they verify recent purchases, but this time the caller asks for my on-line banking ID.
I’m not suspicious at that point, but I automatically decline to state my logon credentials. He presses on, insisting I reveal my ID.
More curious than concerned, I don’t know what to make of it. My ID isn’t secret information, is it? He says if they can’t resolve this now, my cards and accounts will be blocked and suspended by morning. Nonetheless, I refuse and opt to phone my bank when they reopen.
Sure enough, no alerts, no blocks, no suspicious activity… except that out-of-the-blue phone call. What the hell is going on? He didn’t ask for passwords or identifying information. And then it dawns on me.
I have long been an opponent of so-called ‘security questions,’ queries asking where you went to high school, your mother’s maiden name, and your first pet. I argue these are insecurity questions. In this backwards situation, the scammer knew– or thought he could guess– one or more answers to my security questions to bypass the passphrase and face recognition. All he needed was my user name!
Hint: Never ever place honest answers in those security questions and, if offered, never answer your favorite color.
- Where did you attend high school?
- Sod off.
- What was your high school’s mascot?
- Sod off.
- Who was your high school sweetheart?
- Sod off.
- Who's your daddy?
- Sod of… huh?
And then…
I previously mentioned a friend’s ordeal when money unexpectedly appeared in her Chase account. Not treating it as a gratuitous windfall, she visited the local branch, which shrugged and said someone had given her money. And then I heard about it, a known scam. Chase Bank still contends they’re not at fault, the lying rotters.
More recently, she received a work-at-home job offer from a Swedish company. She was excited to be interviewed, tested, and accepted. They sent her a sizable check to set up a home office.
Sour and dour me? Even after I confirmed the company and the HR VP’s name were real, I remained suspicious. But the check they sent her? Not so real. They would, I suspected, soon instruct her to send part of that money elsewhere. I advised her not to deposit it (which could take weeks to fully resolve), but to ask her bank to verify it (which took mere minutes).
Next Time: Practical Protection



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