
Published: Dec 18, 2024
Protect Yourself and Your Loved Ones by Staying Informed About Common Scams.
At Hall Financial Advisors, we believe that protecting your financial well-being goes beyond smart investing—it’s also about staying vigilant against scams that target individuals, especially retirees. As we close out 2024, it’s an important time to reflect on ways to safeguard yourself and your loved ones.
Scammers are becoming increasingly sophisticated, often preying on trust and generosity. By familiarizing yourself with common tactics, you can take proactive steps to avoid falling victim. Here are 10 scams to watch for:
- Lottery Scam: Calls or emails claim you’ve won a prize but require upfront payment for fees or taxes. The prize never arrives.
- Grandchild Scam: Imposters pose as your grandchild, claiming to be in trouble and urgently needing money.
- Charity Scam: Fraudulent charities or organizations with similar names to legitimate ones solicit donations.
- Computer Scam: Fake tech support agents claim your computer has a virus and gain access to your personal information.
- Timeshare Scam: Scammers offer to sell your timeshare for a fee but disappear after payment.
- Homeowner Scam: A "contractor" offers home services, requests prepayment, and never returns.
- Medical Scam: Calls about discounted medical equipment request deposits and personal details but deliver nothing.
- Foreclosure Scam: Fraudsters claim they can save your home from foreclosure if you sign over the deed, only to refinance for their gain.
- Caregiver/Sweetheart Scam: Predators win trust to access financial accounts or steal money.
- Title Company Scam: Scammers intercept real estate transactions and send fraudulent payment instructions.
How to Stay Safe
- Never pay for unsolicited offers or items you don’t recall ordering.
- Guard your personal information and verify unknown contacts independently.
- Be cautious with email links and verify instructions directly with companies.
- Consult trusted loved ones or advisors before making large financial decisions.
If you suspect fraud, act quickly by contacting your financial advisor, reporting the incident to the Federal Trade Commission at identitytheft.gov, or filing a report with the FBI. Acting At Hall Financial Advisors, your security is our priority. By staying informed and vigilant, you can make confident decisions to protect what matters most. Watch for details on an upcoming informational session hosted by our team featuring a guest speaker from Raymond James on cybersecurity.
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Adapted from an article by Raymond James Technology and Innovation. For more visit: https://www.raymondjames.com/commentary-and-insights/lifestyle-technology/2024/07/22/10-common-scams-and-how-to-avoid-them

1 2024 Forbes America's Top Wealth Management Teams Best-in StateThe 2024 Forbes ranking of America’s Top Wealth Management Teams Best-In-State, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 3/31/2022 to 3/31/2023 and was released on 01/09/2024. Advisor teams that are considered must have one advisor with a minimum of seven years of experience, have been in existence as a team for at least one year, have at least 5 team members, and have been nominated by their firm. The algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 10,100 team nominations, 4,100 advisor teams received the award based on thresholds. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please see https://www.forbes.com/lists/wealth-management-teams-best-in-state/ for more info.