Spot the Scam Before You Lose Your Money

Act immediately — time matters. If you paid by bank wire or ACH transfer, call your bank's fraud line right now and ask them to reverse or recall the transfer. If you used a gift card, call the card issuer's number on the back and report it as fraud. If you sent cryptocurrency, contact the exchange you used. Then report the scam to the FTC at ReportFraud.ftc.gov and call the National Elder Fraud Hotline at 1-833-FRAUD-11 (1-833-372-8311) for free guidance on next steps.

You can report scams to multiple agencies. File a federal report with the FTC at ReportFraud.ftc.gov — this is the most important step and helps investigators track patterns. For internet-based scams, also report to the FBI's Internet Crime Complaint Center at IC3.gov. For Social Security impersonation scams, report to the Social Security Administration's Office of Inspector General at 1-800-269-0271. Your state Attorney General's office can also take reports — find your state's contact at usa.gov/state-consumer.

The biggest red flags are: urgent pressure to act immediately, requests for payment by gift card, wire transfer, or cryptocurrency, threats of arrest or account suspension, and requests for personal information like your Social Security Number or bank account details. Legitimate organizations like the IRS, Social Security Administration, and Medicare will never call you unexpectedly and demand immediate payment or threaten you. When in doubt, hang up and call the organization back using a number from their official website.

If you shared your Social Security Number, place a free fraud alert or credit freeze with all three credit bureaus: Equifax (1-800-685-1111), Experian (1-888-397-3742), and TransUnion (1-800-916-8800). If you shared bank account or credit card numbers, call your bank or card issuer immediately to report fraud and request new account numbers. If you shared your Medicare number, call 1-800-MEDICARE (1-800-633-4227). You can also visit IdentityTheft.gov for a personalized recovery plan.

Scammers demand gift cards because the transactions are nearly impossible to reverse and very difficult to trace. Once you read them the card number and PIN, the money is gone almost instantly. No legitimate government agency, utility company, or business will ever ask you to pay a debt, fine, or fee using gift cards. If anyone asks you to pay with a gift card — no matter how convincing their story — it is a scam. Hang up immediately.

Start by having an open, non-judgmental conversation about common scam tactics — shame and embarrassment are the biggest reasons victims don't report. Set up a simple rule together: they will always call you before sending money or sharing personal information with anyone who contacts them unexpectedly. Consider setting up call-blocking apps or services on their phone. You can also register their number on the National Do Not Call Registry at donotcall.gov, though scammers often ignore it. If you suspect they have already been targeted, call the Elder Fraud Hotline at 1-833-372-8311.