Beech Tree News Network

If it sounds too good to be true, it probably is: Avoid being scammed

Financial scams are growing in prevalence and are among the most common crimes today. A recent poll showed that approximately 15% of those who responded to a recent poll say that at least one member of their household has fallen prey to on, with 8% reporting that it has happened to them. And, scammers target both men and women and people of all ages, incomes, and backgrounds.

However, there are steps we can take to prevent becoming a victim. First, let us all remember that if it sounds too good to be true, it probably is. We probably all recognize that promises of instant wealth usually conceal a hidden attempt to separate us from our money. Yet we do not always apply the same level of skepticism to other schemes, including threats, false pretenses, and impersonations. We certainly should, and we also need to guard our personal financial information.

This session, we approved legislation aimed at increasing the protection of online personal data (HB 15) as well as a measure that outlaws unregulated and unethical practices that target Kentucky homeowners (HB 88).

The Kentucky General Assembly is committed to protecting consumers, but there are certainly steps you can take to safeguard you and your family. Here are some simple tips to help you stay safe.

1. Protect Personal Information: Your personal information, like your address, phone number, and passwords, is valuable. Never share it with strangers online or over the phone.

2. Verify Identities: Before giving out any information or money, make sure you are dealing with a legitimate person or company. The use of artificial intelligence gives scammers an even greater tool in separating you from your money. Check their credentials and do some research.

3. Do Not Click on Suspicious Links: Scammers often send emails or messages with links to fake websites. These websites might look real, but they are designed to steal your information. Be cautious and avoid clicking on links from unknown sources.

4. Secure Your Devices: Keep your computer, phone, and other devices updated with the latest security software. This can help protect you from viruses and malware that scammers use to steal information.

5. Trust Your Instincts: If something feels off or makes you uncomfortable, trust your gut. It is better to be safe than sorry.

6. Be Careful with Money Transfers: Scammers might ask you to wire money or use prepaid cards. Once the money is sent, it is nearly impossible to get it back. Be cautious when transferring money, especially to people you do not know.

7. Educate Yourself: Stay informed about the latest scams and how to recognize them. The more you know, the better you can protect yourself. A great resource is the Federal Trade Commission, just visit consumer.ftc.gov/scams for more information.

8. Talk to Someone You Trust: If you are unsure about something, talk to a friend, family member, banker, or someone else you trust. They can help you figure out if it is actually a scam.

9. Report Suspicious Activity: If you think you have encountered a scam, report it to the proper authorities. This can help prevent others from falling victim. Kentuckians can report scams to the Office of the Attorney General at 888-432-9257.

Of course, scammers are always coming up with new ways to trick people. By staying informed and following these tips, you can help keep yourself and your money safe.

As always, I can be reached anytime through the toll-free message line in Frankfort at 1-800-372-7181. You can also contact me via e-mail at [email protected]. You can also keep track through the Kentucky legislature’s home page at legislature.ky.gov.