According to Federal Trade Commission data, more than 2.8 million people reported fraud in 2021, and 1 in 4 said they lost money. The median loss in scams that start with a call is $1,200, higher than any other contact method.
Recognizing red flags of phone scams could help you avoid falling for one. Here are some general indications that the person on the other end is a scammer:
- They pretend to be from a familiar organization.
- They say there’s a problem or a prize.
- They pressure you to act immediately.
- They tell you to pay in a specific way.
Phone scams come in many forms but often make similar promises or threats. Trust your gut if something seems off or too good to be true.