Stay up to Date on Recent Scams
As you know, scams and cyber threats are on the rise. Below are two of the most common scams at the moment, and best practices to prevent these scams.
🟡 Gold Bar Scam:
Like many scams, this one starts with a sudden pop-up or error message that appears on a computer or phone screen. It claims that hackers have targeted a bank or retirement account or their account is at risk of being frozen and urges people to call a phone number immediately.
When the phone number is called, the person on the other end claims to be from a legitimate agency like the FBI or FTC.
The scammer then urges the individual to withdraw money from a savings or retirement account to convert it to gold bars. The scammer states this is to protect the money from being seized or stolen.
In some cases, they will have the victim convert the money into gold before they attempt to steal it.
Finally, they send a fake courier (posing as law enforcement or a government official) to pick up the cash or gold if the victim has already purchased the metal.
This scam primarily targets elderly individuals, and while it seems unlikely, it’s currently one of the most popular scams. The FBI, AARP, and ABC News have articles covering this scam in depth.
🚧 MDOT Toll Scam:
Michigan residents are being targeted with text messages that look like they’re from the Michigan Department of Transportation (MDOT). The text messages demand toll payments and direct people to a fake website where they are prompted to provide personal and financial information.
MDOT has addressed this scam in an article, stating, "MDOT does not operate toll roads and will not solicit payment for bridge tolls via text."
These scams are known as “smishing” attacks—phishing via SMS. They aim to get you to click fast without thinking and then steal sensitive data.
How to Protect Yourself:
Never move your money to "protect it."
Never call a number from a pop-up warning.
Don't click a link from a text claiming to be from a government agency or department.
Don't share verification codes; your bank or a trusted organization will never ask for them.
If you're worried, hang up the phone and call your bank, accountant, online retailer, or us directly.
You can report scams at reportfraud.ftc.gov.
Scams and cyber fraud are rising, and we aim to give you the tools and knowledge to protect yourself!