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.gov, tips.fbi.gov, or 1-800-CALL-FBI).
Please visit these important websites for more information.
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
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
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