Scams used to be a sketchy email from a prince. Now they come with logos, fake government IDs, and phone numbers that look more legit than your cousin’s.
In this edition, we’re unpacking the growing scam epidemic in the U.S. and sharing what you can do to avoid becoming part of the stats.
Scams are on the rise — both in number and in cost. More than 2.5 million Americans were scammed in 2024, racking up a staggering $12 billion in losses, up sixfold since 2019.
How It Works:
Today’s scams aren’t just clumsy phishing emails. They’re sophisticated, targeted, and relentless. Here's how many operate:
- Impersonation: Scammers pose as officials from the IRS, Social Security, Medicare, banks, or even your utility company.
- Urgency Tactics: They’ll tell you your account’s compromised, your identity’s at risk, or you owe a fine — and need to act now.
- Personalization: They might use your name, hometown, or recent purchases to build trust.
- Payment Traps: They often demand payment via untraceable methods — gift cards, wire transfers, or crypto.
Who’s Targeted:
Everyone. But seniors, immigrants, and anyone unfamiliar with digital communication are top targets. Scammers are also zeroing in on busy professionals who don’t have time to second-guess a well-timed email or call.
Real-Life Example:
Donna DiMenna, an organizational psychologist from the Twin Cities, fell victim to a scam in 2023. Despite her education and experience, she was tricked into believing a convincing scammer who manipulated her trust.
This isn’t about being naïve — it’s about being human. And scammers are getting really good at exploiting that.
Why You Should Care:
This isn’t a fringe issue anymore. From fake Amazon texts to bogus tax refund calls, scams are now part of everyday life. And the emotional toll? Just as heavy as the financial one.
What’s scarier is how well scammers mimic real institutions — blurring the line between legit and criminal.
Actionable Steps:
Here’s how to fight back:
- Slow Down: Scammers create urgency. Take a breath before reacting.
- Verify Sources: Never trust caller ID alone. Hang up and call back using the official number from the website.
- Don’t Click or Share: Don’t open links from unknown senders or give out personal info over the phone.
- Use Multi-Factor Authentication (MFA): It adds a second layer of protection to your accounts.
- Report It: Let your local law enforcement or the FTC know. Every report helps.
Quick Tips & Updates
Quick Tip #1: Did you know? Scammers often use AI voice technology to impersonate family members or officials. If a voice call sounds urgent and emotional, double-check it.
Pro Tip: The IRS, Medicare, and Social Security will never ask for payments via gift cards or pressure you over the phone. That’s your red flag.
Don’t forget to tune in Tuesday at 9 a.m. as MPR News host Angela Davis revisits this important topic with experts from the Better Business Bureau and the Minnesota Department of Commerce.
Stay safe, stay informed.
Keywords & Definitions
- Scam Tracker: A public tool by the Better Business Bureau that lets people report and view scams by region.
- Wire Fraud: Using electronic communications to commit fraud.
- Impersonation Scam: A fraud where the scammer pretends to be a trustworthy organization or person.
- MFA (Multi-Factor Authentication): A login process that requires more than just a password to access an account.
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