Scammers are constantly developing new and unique ways to access your funds and personal information. Ultimately, this can lead to identity theft and credit card fraud. Staying educated on the latest scams can help you protect your credit score and your bank account. Here are four scams to keep an eye out for in the new year, along with ways you can avoid them.

Impersonating Well-Known Brands to Steal Your Personal Information

You may notice emails or texts that come through claiming to be from your bank, your cellular provider, etc. that look a little odd. Their goal is to get you to click on the link provided and add your personal and/or financial information into their system. Once they have your information, it can be used to open up credit cards in your name or make fraudulent purchases.  

How to Avoid It: When you receive an email that appears to be from your bank or a service that you use, do not click on links provided. Instead, sign in using the official website or mobile app for that brand. Check your in-app messages there to see if there are any items that you need to address instead of accessing this through your email.

 

Social Media Ads That Lead You to Fake Websites

Unfortunately, advertisements on social media are going to continue to grow and become one of the main ways that brands get their promotions and messages out to us. Currently, there is no regulation that allows for a legitimacy check on brands which means you might come across ads that have been set up by scammers. If you click on the ad, the link will lead you to a fake website. Although it may appear to be real, the site is set up to steal your information.

How to Avoid It: Before clicking on any ad, check the company’s official website to see if they are really offering that deal. If it is a company you’ve never heard of, look up reviews or information about the company on the Better Business Bureau website. Being vigilant is he best way to be sure that you’re not engaging with a scammer.

 

Student Debt Relief Scams

With a lot of conversation about the Student Debt Relief happening across the country, scammers are taking advantage of hopeful college grads waiting for student loan forgiveness to become a reality. Scammers might call or email student loan borrowers promising immediate debt cancellation or relief. Others might ask for an upfront payment in exchange for getting your student loans forgiven. 

How to Avoid It: No one can relieve federal student loan debts immediately except for the government. While some debt relief programs can offer relief quickly, you’ll usually have to apply through a secure website or system. These programs should never ask for your information over the phone or through email. While loan forgiveness for all has not come to fruition yet, some student debt relief programs already exist for qualified borrowers. The Department of Education website is a great resource for keeping up to date on everything student loan relief. 

 

It is always wise to verify the validity of any individual or entity that asks for personal or financial information before you comply. Legitimate companies, like Viking Client Services, will never ask for this information over the phone or email. They will simply ask you to verify the information that they already possess. The more you learn and understand collections and scamming tactics, the better prepared you will be to handle calls from potential collection agents. Remember that you have rights and can always ask questions. You may even end the phone call, if you feel uncomfortable.

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