Financial scams are becoming more sophisticated and more convincing. Scammers now use advanced technology, including artificial intelligence (AI), to trick even the most careful people into sharing personal information or sending money. Here are some popular ways thieves try to stay in business.

This article focuses on protecting your personal financial information — such as personal bank accounts, personal passwords, personal credit cards, and individual credit history — and does not apply to company systems, devices, accounts, or company credit cards, which are governed by separate internal policies.

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• Imposter scams. Imposter scams are the most frequently reported scams in the U.S. The scammer pretends to be an agent of trust – such as the IRS, Social Security Administration, a bank, a utility company, or even a family member – and may even call from a telephone number that seems legitimate. They often create a sense of urgency, claiming you owe money or that your account is at risk.
  
  • Tip: Red flags include requests for payment via gift cards, wire transfers, or cryptocurrency, and pressure to act immediately.
• Tech support scams. In a tech support scam, you may receive a pop-up message, email, or phone call claiming your personal computer or phone has been compromised. The scammer poses as a well-known company and asks you to click a link, download software, provide login credentials, or pay a subscription invoice from what appears to be your tech support provider. These are ploys to get money, gain your personal information, or render your computer inoperable in exchange for a ransom. ‍
  
  • Tip: Legitimate companies do not proactively call customers to fix technical issues, and if you have questions about any invoice, call the phone number in your records – not the one in the suspicious email.
• AI-powered messaging and call scams. Scammers increasingly use AI to create realistic emails, text messages, and even voice calls. You might receive a voicemail that sounds like a loved one asking for urgent help. Some scams even clone a person’s voice using short audio samples or even use videos – these are forms of “audio cloning” and “deepfakes.” ‍
  
  • Tip: When in doubt, pause and verify the request using a trusted phone number or separate communication channel. The National Cybersecurity Alliance recommends that family members create a “safe word” to help weed out scammers and verify legitimate identities.
• Crypto scams. Cryptocurrency scams are on the rise, often promising guaranteed returns, “limited-time” investment opportunities, or insider tips. Like other scams, many start with a call, text message, or email about personal investments or claiming a personal account has been hacked. Others involve fake crypto platforms or impostors posing as financial advisors. Unfortunately, tracing lost funds over the blockchain can be difficult, and many times they are laundered before authorities can recover them. ‍
  
  • Tip: No legitimate investment guarantees profits, and requests to move money quickly are a major warning sign.
• Ghost tapping. The Better Business Bureau warns consumers about this growing tap-to-pay fraud that targets contactless payment methods like tap-to-pay cards and mobile wallets. These scams exploit the near-field communication (NFC) technology that enables wireless transactions at close range. Scammers use this to make unauthorized charges without the victim’s knowledge — often in crowded places like markets, transit stations, or festivals. Some fraudsters even pose as vendors or charity collectors to trick people into tapping before they realize the amount or merchant name. Victims may notice unauthorized or unusual charges, receive unexpected “test” charges from their bank, or be asked to tap before seeing a transaction total or receipt. ‍
  
  • Tip: Verify payment details before tapping, checking that the merchant name and total on the payment terminal match what you expect. You can also use RFID-blocking wallets or sleeves to reduce NFC access, and enable real-time alerts from your bank or card issuer so you’re notified immediately of any transaction.

How to protect yourself

The best ways to protect yourself are to stay on top of emerging scams and remain diligent about safeguarding your personal information.

• Slow down and don’t act on urgency or threats.
• Never share passwords, one-time codes, or financial information.
• Use strong, unique passwords and enable multi-factor authentication.
• Keep devices and software up to date.
• Monitor your personal accounts regularly for unauthorized activity.
• Freeze your credit. A credit freeze prevents new accounts from being opened in your name — and it’s free. You can temporarily lift or remove the freeze anytime if you need to apply for a loan or credit.

Where to report scams

If you do fall victim to a scam, don’t be embarrassed – even tech-savvy people can fall prey to today’s sophisticated fraudsters. Report it immediately to the Federal Trade Commission at reportfraud.ftc.gov. You should also notify your bank or credit card provider right away and consider placing a fraud alert on your credit report.