A way to spot scams: how someone asks you to pay

Let’s say someone contacts you unexpectedly and says you have to pay to fix a problem, get a prize, or something else. But then they say the only way to pay is by bank transfer , wire transfer , cryptocurrency , payment app , or gift card . Well, reports to the FTC show that’s a scam. Last year, people reported the largest losses — more than $4 billion in total — to scams where they paid with bank transfers and cryptocurrency. Many of these were to scammers impersonating a government agency, a well-known business, or a combination of both. While the details of the scam and how they contact you change, they always ask you to pay in ways that make it difficult to get your money back. Anyone who says you can only pay in one of these ways is probably a scammer. T o help protect yourself from scams: Never send money to anyone who says you can only pay with a specific payment method, no matter what reason they give you. Check it out. Search online for the name of the company or person and words like “review,” “scam,” or “complaint.” See what other people are saying. Pay by credit card whenever possible. Credit cards offer more protections and give you the option to dispute charges . Don’t delay if you paid a scammer . Contact the company you used to send money right away. Tell them it was fraud. Ask if they can stop or reverse the transaction and give you your money back. See more advice at ftc.gov/scams . If you spot a scam, report it to the FTC at ReportFraud.ftc.gov . Search Terms Scams