Traps & Pitfalls

Please note that the links on this page will bring you outside of ASEC’s website to our trusted partners’ webpages.

Coronavirus Scams

Have you received an email from the WHO or CDC during the pandemic age? Probably, but actually not. These are scammers who use tactics like impersonation to get money and information from you, and they are especially prevalent during trying times such as now. Be careful when donating, buying testing kits, or talking to a “government organization.”

If you believe you have been the victim of a COVID-19 fraud, immediately report it to National Center for Disaster Fraud Hotline at (866) 720-5721 or justice.gov/disastercomplaintform, or the FBI (ic3.govtips.fbi.gov, or 1-800-CALL-FBI).

Please visit these important websites for more information.

Federal Trade Commission

AARP

FBI

Caregiving

Being a caregiver often presents critical decisions and difficult challenges. In addition to creating a safe environment and providing emotional support there are financial and legal responsibilities. As the caregiver, there are steps you might want or need to take — but do you know if you have the legal authority to act? Here are some comprehensive guides to help you make sense of it all. Review these before meeting with an attorney or financial advisor.

View power of attorney guides View guides for court-appointed guardians 

View guides for trustees  View guides for government fiduciaries 

Investment Fraud

Red Flags of Investment Fraud Checklist

Investment Scam Complaints on the Rise

Before You Trade

If You Are About to Trade

Signs of Fraud

False Promises of Profits as a Result of Natural Disasters

Profits Based on Seasonal Demand or Other Well-Known Public Information

6 Steps to Take after Discovering Fraud

Recovering from Fraud

Don’t be Re-Victimized by Recovery Frauds

Online and Telemarketing Fraud

Scammers can use several tactics over the phone to obtain money or important personal information. Some use threats and scare tactics, while others try to sell you a prize that you have “won.” Do not underestimate the abilities of scammers. For example, scammers can pretend to be your relatives, the government, or police by even using their respective caller ID. A general rule is to never give anything money or information away if you do not have full trust with the person/organization you are dealing with. It may not be too late to recover your information if you have already have paid the scammer. Contact the company that you paid them through immediately if you have recently paid a scammer.

Learn more information and tips about the variety of online and telemarketing scams.

Phishing Scams

Scammers are increasingly targeting the public seeking to comprise their email in order to get bank account or credit card information. Ways to combat these scams include:

  • Write down the individual’s name and contact information

  • Never email financial information

  • Confirm phone calls and other potential threats

Learn more on how to evade being phished.

Pay Day Loans

These short term, high rate loans are highly expensive and not a good deal for the consumer. These loans are advertised across all media spaces looking for people with desperate short term needs before their next pay day. The government treats payday loans like other types of credit: the lenders must disclose the cost of the loan. Payday lenders must give you the finance charge (a dollar amount) and the annual percentage rate (APR — the cost of credit on a yearly basis) in writing before you sign for the loan. So if you are still contemplating a pay day loan, make sure you know all of the facts.

Learn more about pay day loans and their alternatives.

Predatory Lending

Predatory loans or bait and switch tactics are ways lenders confuse and distract consumers into paying higher rates than what they intended on at first. These fraudulent schemes consist of lies and deceptions towards people that are more at risk of falling for them like elderly or low income individuals.

Learn more about how to spot and avoid predatory lending.

Social Security Fraud

Blogs

https://blog.ssa.gov/new-updates-to-our-warning-about-social-security-phone-scams/

https://blog.ssa.gov/inspector-general-warns-about-new-social-security-benefit-suspension-scam/

Facebook Posts

  • Beware of Social Security phone scams! Telephone scammers are pretending to be government employees. You can report scams here: http://ow.ly/tKpn50y1ZMh

  • What should I do if I get a call claiming there's a problem with my Social Security number or account? Check out this Social Security FAQ for the answer: http://ow.ly/kFjZ50yt0mo

Twitter Posts

  • Beware of Social Security phone scams! Telephone scammers are pretending to be government employees. You can report scams here: http://ow.ly/tKpn50y1ZMhf.

  • What should I do if I get a call claiming there's a problem with my #SocialSecurity number or account? Check out this @SocialSecurity #FAQ for the answer: http://ow.ly/GWQV50yt0nL