Common Financial Scams We’re Seeing Right Now and How to Avoid Them

Over the past several months, our advisors have noticed a significant increase in financial fraud attempts affecting our clients. These scams are becoming more frequent and more convincing than what we’ve seen in the past. We’re here to offer perspective and awareness so you can stay informed if something unexpected shows up on your phone or in your inbox. 

The key takeaway: if a message or call feels off, it likely is. That instinct matters and pausing before responding can make all the difference. 

Common scams we’re seeing right now 

Many of the recent attempts we’ve noticed follow a few familiar patterns. Knowing what these look like ahead of time can help you recognize them more quickly. 

Recently, we are seeing an increase in text messages that include links. These often appear to come from a bank, delivery service, government agency, or even a familiar company. The message may say there is a problem with your account, an urgent notice that needs attention, or a request to confirm information. Clicking the link can open the door to compromised information, even if the message looks legitimate. 

Another common tactic involves phone calls where the caller asks for sensitive details. This can include bank account numbers, Social Security numbers, login credentials, or verification codes. These calls often sound professional and confident, which can make them feel credible. However, legitimate financial institutions and advisory teams do not call unexpectedly asking for this information. 

We have also seen calls where the person on the line pressures the individual not to contact anyone else. If a caller insists that you should not call the police, your bank, or your financial advisor, that is a strong signal that something is not right. Fraud thrives on urgency and isolation, and discouraging outside conversations is a common tactic. 

Most concerning is a newer trend we encountered recently. In one situation, a scammer used FaceTime and displayed what appeared to be a badge to convince the person on the call that they were in a position of authority. Even in cases like this, where there appears to be valid credentials, it can still be a scam. Technology has made it easier for bad actors to create convincing presentations. 

What to do if you receive a suspicious call or message 

If you receive a call, text, or email that raises questions, the best next step is to disengage. Hang up the phone. Do not click the link. Delete the text message and report as spam. Do not continue the conversation to gather more information. Ending the interaction is not rude, and it does not create risk for you. 

After that, reach out to our office or your advisor. We encourage you to do this before sharing any information with anyone else. We would much rather talk through a situation that turns out to be harmless than see a client feel pressured into responding in the moment. 

Our team sees a wide range of scenarios, and that experience allows us to quickly recognize what is likely a scam and what may require a different type of follow-up. You are never inconveniencing us by asking the question. 

A slow and steady approach in a confusing situation 

Fraud attempts often rely on creating urgency or fear. Taking a step back, slowing the process, and involving someone you trust can interrupt that pattern. Rest assured, a real professional will never object to you seeking confirmation or taking time to verify a request. 

We share this reminder because these attempts are becoming more common. Staying informed is simply part of navigating today’s financial landscape with intention and care. 

If something doesn’t sit right, trust that feeling and call us first. We are here as a steady resource, ready to help you make an informed decision together.