Fraud summit held in Montgomery

Published: Jan. 30, 2023 at 10:53 AM CST|Updated: Jan. 31, 2023 at 11:11 PM CST
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MONTGOMERY, Ala. (WSFA) - New scams are formed every day in the United States and across the globe. The Better Business Bureau Serving Central & South Alabama, plus other state and federal agencies, held a fraud summit Tuesday in Montgomery to keep people from falling victim.

Scammers are starting to become more tactical in getting people to compromise valuable information. BBB Vice President Monde Donaldson said the summit was a way to help inform people how to protect themselves and their finances.

Organizers say online scams have seen an increase since the beginning of the pandemic

“They are not researching things, and they’re just clicking before they look,” Donaldson said.

Agencies are now saying the latest comes from cryptocurrency, with related scams increasing by 10 times in total monetary losses from 2021 to 2022.

“People will come on social media or over the phone, text messages, and they will say that ‘I have this great investment opportunity’ or ‘I can double your money,’” said Rachel Salter, an intelligence analyst with the Alabama Law Enforcement Agency.

Younger people are likely to fall victim to scams now more than ever.

Before you click a link or send money to someone you don’t know, agencies are urging you to do your research first.

“Definitely do your research on that company or that person. If there’s nothing out there, then they’re probably a scammer,” Salter said.

Experts say to never give out your personal information, like your Social Security number, PIN or bank account information. And never trust anyone you have not met in person.

If you fall victim to a scam, you are urged to call your local law enforcement agency and file a report.

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