Thursday, March 5 is National Slam the Scam Day. Even if it weren’t, this is a good time of year to remind your clients to be vigilant about scams and phishing, particularly those centering on taxes, the IRS, or Social Security.
You may think your clients are too smart to fall for scams, but did you know that 18% of cognitively intact adults – almost 1 in 5 – have been victimized? And with AI now able to generate thousands of scams a day, the risk is only increasing. It’s no longer enough to look for misspellings, bad grammar, or unusual lettering. In fact, scammers using AI can authentically mimic an email from a bank or government entity. They can also gain personal information and create a good imitation of a family member’s voice by sampling their social media posts. Several members of the widowed support group I facilitate have been victimized by various schemes like these.
There are a number of things you can do to help your clients.
- Every time you send a newsletter to clients, include a tip about scams or phishing.
- Create a branded, laminated page listing the most common scams and phishing schemes and put a refrigerator magnet on the back of it so clients can keep it close at hand for easy reference. (Besides, it’s not bad advertising for you when others see it!)
Include the “red flags” – i.e. demand for immediate payment “or else,” payment via unusual methods like gift cards or cryptocurrency, instructions to wire or transfer funds in order to “keep them safe,” a call from a grandchild who needs immediate funds, a requirement to keep a conversation or relationship secret, a request to verify details about a financial account, etc. - Instruct clients to verify emails and calls independently by calling the bank, the grandchild, or the friend, and never to click on links or give information over the phone to an unrecognized number.
- Subscribe yourself to the AARP Fraud Watch Network, which informs you of the most common scams being reported in your area. (You don’t need to be a member.)
Also check the IRS Tax Scams Consumer Alerts - Know where to report:For Social Security scams - oig.ssa.gov
For tax scams - https://www.irs.gov/help/tax-scams/report-a-tax-scam-or-fraud
For internet scams - https://ic3.gov
Do whatever you can to protect your clients and their family members from being victimized. It’s the right thing to do, and it builds trust and loyalty when they know you’ve got their backs.