Current Scams - 08-2023 Archive

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Did Someone Insist You Pay Them With Cryptocurrency?

Kira Krown Consumer Education Specialist, FTC
Monday Aug 28th, 2023

What’s one of the best ways to spot a scam? Know how scammers tell you to pay. Scammers want you to pay them in ways that are hard to trace and hard to get your money back: like through a gift card, wire transfer, payment app, or cryptocurrency. Here, we’ll focus on that last one — cryptocurrency — and how to avoid cryptocurrency-related scams. 

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Asked to wire money? Cut the cord.

Terri Miller, Consumer Education Specialist, FTC
Monday Aug 7th, 2023

If someone asked you to mail them $200 in cash, would you do it? Probably not. Wiring money is just like sending cash in the mail. Once it’s gone, you probably won’t get it back — which explains why scammers tell you to pay that way. You’d think twice before mailing your hard-earned money — do the same thing before you wire money. Here’s what to know.

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