Scammers are alive and well and seek to help themselves to your hard-earned money.
Then the caller proceeds to tell you to go get prepaid gift cards and send them to some P.O. Box.
Well, if you have gotten a call like this, there is good news! It is not the IRS and you are not in any trouble. The bad news is that it is a scam. I hope you did not fall for it!
Have you ever received a call from the “IRS,” “Social Security” or “Medicare”? I have. Most of the time it is a robocall by a computer.
I actually got a call from “the IRS” and the individual left a badge number and a number to call back. It is always the same message of urgency that you owe money and an organization is going to issue a warrant for your arrest. Well, I have not been arrested. It’s a sure scam.
How about a call from the “Social Security Administration” notifying you that your benefits are being suspended because you owe money or the caller needs to verify some information?
Then there is the call from “Medicare” stating that your coverage may be or is suspended and you need to verify some information.
Maybe you have gotten a call stating that you have won a lottery or there is some grant someone wants to give you.
The bad news is that if you have received such a call and you gave your information or sent money, you have gotten scammed. These are all common scams to be aware of and avoid. If you get any of these calls, do not ever give any information or any money. Nothing bad is going to happen to you like they threaten. If you give them your Social Security number, date of birth and any other information, your identity will likely be stolen. If you send money, you will be out whatever you send.
Basic rule: do not ever give out any personal information to anyone. These scammers may contact you over the phone, via email or perhaps text message. It is generally always the same story. You need to send immediately some amount of money either via a wire transfer or go buy some gift cards and send them to a P.O. Box. Some may request that you send cryptocurrency.
What the Government Won’t Do
The government will never:
- Call you and ask for personal information. If a someone is from the government, that caller will have your Medicare and Social Security number.
- Contact you via social media, text or email.
- Reach out to you to award you a federal grant. You must apply for one and the purpose is generally for a very specific reason.
- Ask you for upfront money to issue a refund, grant or some other government benefit.
- Take payments in gift cards, wire transfers or cryptocurrency.
What the Government Will Do
- Contact you by mail. The letter will contain very specific information and instruct you what the issue is and what information is needed.
- Other Don’ts
- Never give any personal information via the phone, email, text message or social media.
- Do not send any prepaid gift cards.
- Wire transfers should never occur.
- Cryptocurrency should not be sent in lieu of a cash payment.
Scammers are alive and well and seek to help themselves to your hard-earned money. Follow these simple rules and keep yourself safe. Keep your money away from them.
Here are some other types of scams to be aware of:
texasattorneygeneral.gov/consumer-protection/common-scams
consumerfinance.gov/ask-cfpb/what-are-some-common-types-of-scams-en-2092/
Always say no, never give them any personal information and keep your money away from them. Hopefully you have not been a victim. Armed with this information, you can avoid becoming one. You work hard for your money, make sure it stays your money!
Thanks for reading; hope you found this helpful. QCBN
By Steven Calabrese
Steven Calabrese, CPA, is the CFO of Polara Health. He also is the owner/operator of a website known as thebiweeklyadvisor.com, where topics such as budgeting, investing, paying off debt and goal setting are discussed.