Slam the Scam: How to Protect Yourself from Fraud

Scammers are getting smarter, and their tactics are more convincing than ever. National Slam the Scam Day—March 6, 2025—serves as a nationwide reminder to stay alert and protect yourself from fraud, particularly government imposter scams. These scams cost Americans hundreds of millions of dollars every year, with criminals using deception and urgency to manipulate victims into giving away personal information or money.

How Scammers Trick You

Fraudsters often pose as government officials—including the Social Security Administration (SSA)—to pressure people into handing over personal information or money. They commonly use these tactics:

• Urgent threats – They claim your Social Security number has been suspended due to suspicious activity, or that you owe money and face arrest.
• Payment demands – They insist you must pay fees or fines immediately using gift cards, wire transfers, or cryptocurrency.
• Fake caller IDs – They spoof official phone numbers to appear legitimate, making it seem like the SSA or IRS is contacting you.
• Too-good-to-be-true offers – They promise increased benefits, refunds, or lottery winnings in exchange for your personal details.
• Phishing emails and texts – They send messages impersonating government agencies, directing you to fraudulent websites that steal your data.

How to Protect Yourself

The best way to fight back against scams is to recognize their tactics and take proactive steps to protect yourself. Here are some key ways to safeguard your personal information and financial security.

1. Stay calm and verify – If someone calls claiming to be from the SSA or another agency, hang up and contact the agency directly at their official number.
2. Never share personal information – The SSA will never call, email, or text you asking for your Social Security number, banking details, or passwords.
3. Don’t fall for payment demands – Government agencies do not accept payment via gift cards, wire transfers, cryptocurrency, or cash.
4. Be skeptical of caller ID – Scammers can fake phone numbers, so never trust what appears on your screen.
5. Look out for pressure tactics – If someone is pushing you to act immediately, it’s likely a scam. Take your time to verify the request.
6. Spread the word – Warn family and friends about common scams and share information online using #SlamTheScam.

What to Do If You’re Targeted

Even the most cautious individuals can still be targeted by scammers. If you suspect you’ve encountered a fraud attempt, taking the right steps quickly can help minimize potential damage.

• Ignore the scammer – Don’t engage, and don’t press any buttons if prompted.
• Report the scam – File a complaint at ssa.gov/scam and ReportFraud.ftc.gov.
• Monitor your identity – If you mistakenly provided information, take steps to protect yourself from identity theft.
• Check your credit report – If your Social Security number was compromised, review your credit report for any fraudulent activity and consider freezing your credit.

Stay Cyber-Smart

As technology advances, scammers are finding new ways to exploit unsuspecting individuals online. Cyber scams can take many forms, from phishing emails to fake websites that steal your personal information. Protecting your digital identity is just as crucial as safeguarding your financial assets. Here are some key steps to stay cyber-smart:

• Beware of phishing attempts – Scammers often send emails or text messages that appear to be from legitimate institutions, asking you to click on links or provide sensitive information. If you receive an unexpected message, verify the sender before responding.
• Use strong, unique passwords – Avoid reusing passwords across multiple accounts. Consider using a password manager to generate and store complex passwords securely.
• Enable multi-factor authentication (MFA) – Adding an extra layer of security to your accounts can prevent unauthorized access, even if your password is compromised.
• Update your devices regularly – Keeping your software, apps, and antivirus programs updated ensures you have the latest security patches to protect against cyber threats.
• Be cautious with social media – Scammers can use social media to gather personal details about you. Avoid oversharing information that could be used for identity theft.

Learn more about cybersecurity best practices by checking out our guides on cybersecurity best practices and cybersecurity awareness.

How Financial Advisors Can Help Protect You

Your financial advisor can be a valuable resource in protecting you from scams. They can help by:

• Educating you on scam tactics – Advisors stay up-to-date on fraud trends and can warn you about emerging scams.
• Implementing safeguards – They can help set up account alerts and security measures to detect unauthorized transactions.
• Providing a second opinion – Before making any financial moves based on an unexpected call or email, check with your advisor to verify legitimacy.
• Assisting with recovery – If you fall victim to a scam, they can guide you through the necessary steps to report fraud and secure your accounts.

Final Thoughts

Scammers rely on fear and urgency to trick their victims, but knowledge is your best defense. This National Slam the Scam Day, take action by staying informed and helping others recognize the warning signs. If something feels off, trust your instincts—slam the scam!

By spreading awareness and staying vigilant, we can all work together to stop fraudsters in their tracks.

💡 Looking for a financial advisor? Connect with our team at Bleakley Financial Group to take the next step in your financial journey.

Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The information in this article has been sourced from SSA.gov, IDtheftcenter.org, Consumer.ftc.gov, Cisa.gov, BBB.org, AARP.org and Reportfraud.ftc.gov.

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- Article posted on 3/5/25 -