Financial scammers are becoming increasingly sophisticated, often targeting retirees with convincing phone calls and text messages that appear to come from legitimate financial companies. These criminals may claim to be from your bank, investment firm, or even our office, asking you to “verify” account information or respond to an urgent security issue.
The good news? You can help protect yourself by following three simple rules that will keep your money and personal information safe.
Tip #1: Never Give Information When Someone Contacts You
The golden rule: If they call or text you, don’t share anything.
Legitimate financial companies, including our firm, will never call or text asking you to verify sensitive information like:
- Social Security numbers
- Account numbers
- Passwords or PINs
- Online banking credentials
What to do instead: If someone claims to be from a financial institution and asks for personal information, politely hang up. Then call the company directly using the phone number on your official statements or their website—never use a number the caller provides.
Even if the caller seems to know some information about you (like your name or partial account details), this doesn’t mean they’re legitimate. Scammers often gather basic information from data breaches or public records to sound more convincing.
Tip #2: Be Suspicious of Urgent “Security” Messages
Scammers create fake emergencies to pressure you into acting quickly without thinking clearly. Common urgent scenarios include:
- “We’ve detected suspicious activity on your account”
- “Your account will be frozen if you don’t verify information immediately”
- “You need to move your money to a ‘safe’ account right away”
Remember: Real financial emergencies are extremely rare, and legitimate companies will give you time to verify their identity and consider your options.
What to do: Take a deep breath and slow down. No legitimate financial institution will demand immediate action over the phone. If there’s truly an urgent issue with your account, you’ll receive official written communication, and you can always call the company directly to verify.
Tip #3: When in Doubt, Contact Us First
You are never bothering us by checking on something that seems suspicious. We’d much rather receive a quick call from you than learn that you’ve fallen victim to a scam.
Call us immediately if:
- Someone claims to be from our firm and asks for information
- You receive suspicious messages about your investments
- You’re unsure whether a financial communication is legitimate
- Someone pressures you to make immediate financial decisions
We know your voice, your situation, and how we communicate with our clients. We can quickly confirm whether any contact is legitimate or help you report suspicious activity to the appropriate authorities.
Stay Protected, Stay Confident
By following these three simple tips, you’re building a strong defense against financial scams. Remember: taking a few extra minutes to verify suspicious communications can save you from significant financial and emotional stress.
Your financial security is too important to leave to chance. When in doubt, always err on the side of caution and give us a call.
If you believe you’ve been targeted by a financial scam, contact our office immediately. You can also report suspicious activity to the Federal Trade Commission at reportfraud.ftc.gov or by calling 1-877-FTC-HELP.