I was reading this New York Times Article today titled: ” How one man lost $740,000 to scammers targeting his retirement savings”. See
this link.
This is a shocking reminder that scammers are getting more and more sophisticated. It is going to get worse. Criminals on the internet are increasingly going after Americans over 60 for their retirement savings. Potential losses last year were over $3.4 billion.
What steps should we take to protect our assets from scammers? What telltale signs will you look for, to warn you of a potential scam in the making?
It’s best not to access bank accounts on your phone…..Beware of this new Android malware that empties your bank account, clears your device completely (msn.com)
If you are purchasing a home and using wire transfer to close, watch out for such scams
https://www.cnbc.com/2024/07/23/wire-fraud-in-real-estate-silicon-valley-executive-warning.html
Sick of scams? Stop answering your phone. (msn.com)
This article has useful tips to spot and avoid common scams targeted at retirees
https://www.itcu.org/resources/news/blog/financial-awareness/guide/how-to-spot–and-avoid–common-retirement-scams
This may be heresy in a group of low cost DIY investors, but maybe the answer is to let someone else manage your investments with instructions to TALK TO YOU for any move a