GREENSBORO, NC -- They spend day and night looking for ways to get your money. And because scammers have all that time to target you, the scams often look and sound very real.
Just as Certified Financial Planner Matt Logan. He saw the Google doc scam up close. "A friend sends you a file with a Google Document. To get it you have to put in your user name and password for Google . When you do, the scammer has access to your account. Be very wary especially from friends who send you something that sounds out of character. "
Logan says he's even had a client's email get hacked and the office was sent an email asking for money to be wired. "While I knew that was out of character for the client and called immediately, it was very real looking in appearance. "
Wired money is a big tip off. Check out the data from the Consumer Sentinel Network. It details how wired money is more often the payment method for scammers.
Statistically speaking, if you're in your 50's or 60's, you are more likely to be contacted by a scammer, whether that be by phone, mail or email. Both age groups come in about 20%-21% when it comes be contacted. But those in their 30's and 40's aren't far behind with 15%-16%.
In 2001 only 325 thousand complaints were reported to the government and just 15 years later over 3 million complaints were reported. The activity is on the rise and the reason has to be that these people are having some success scamming people out of their hard earned money. The reported numbers alone show that over $500 million was taken from Americans just this past year. "The numbers are very high so don’t think it couldn’t happen to you or someone you love."
Most likely, the scam involves some sort of tax or wage scam. By far, the phone scams are more common than email or mail. Phone scams accounted for 75% of consumer complaints last year.
DISCLAIMER:Matt Logan Inc is an independent firm with Securities offered through Summit Brokerage Services, Inc., Member FINRA, SIPC. Advisory services offered through Summit Financial Group Inc., a Registered Investment Advisor. Summit Brokerage Services, Inc., its affiliates and Matt Logan Inc. do not give tax or legal advice. You should consult an experienced professional regarding the tax consequences of a specific transaction. These are the views of Matt Logan Inc, and not necessarily those of Summit Brokerage Services, Inc. and any of its affiliates and should not be construed as investment advice.