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13 Common Financial Scams To Watch Out For In 2024

The Federal Trade Commission estimates that fraud cost U.S. consumers more than $7 billion in the first quarter of 2023. That was a 5% increase from the same period in 2022, meaning financial scams are now more prevalent and sophisticated. 

Identity Theft

Identity theft is becoming more common, with scammers devising new ways to steal your passwords, social security numbers, bank account details, and any sensitive information you may use to access your accounts.

Phishing Scams

You receive an email or a text message from your bank saying there’s something wrong with your account and you need to log in urgently to rectify the problem. Once you click on that link, scammers steal your personal information, and you become a phishing scam victim. 

With a debt relief scam, fraudsters will call you, promising to negotiate with creditors on your behalf to eliminate or reduce pending debt at a fee. However, most of these are scammers and won’t provide any assistance. Always contact registered debt relief organizations or work with a financial advisor to identify your debt relief options.

Debt Relief Scams

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