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LOW-TECH BANK SCAMMERS

Posted on December 20, 2025 by Melissa Hart

Digital scams and fraud reported by banks are increasing, and not all involve new technology. Many of these deceptions involve low-tech human error. 

Fraud involves an unauthorized person accessing your bank account to make purchases or other transactions. While scams occur when a criminal tricks a person into sending money under false pretenses.

Social engineering scams involve a fraudster attempting to trick a victim into sending them money.  This cybercrime may occur as phishing (by email), vishing (voice messages), or smishing (text messages).

To protect yourself, cybersecurity experts suggest the following:

  • Confirm that a sender’s email is valid. Scammers use similar but slightly different email addresses than the official ones.
  • Don’t click on suspicious links, which could result in going to a false website.
  • Be skeptical of messages with generic greetings and signatures; also, beware of poor grammar and spelling in the message.
  • Avoid downloading attachments in suspicious, unsolicited messages.
  • Verify money requests. Be sure to look up a company’s legitimate phone number and address online rather than the one provided in an email.
  • Beware of the safety of your phone and home computer.  You may have accidentally checked a box in the past to allow access to what you thought was a “trusted” device.

For additional information on bank scams and fraud, click here.

Teaching Suggestions

  • Have students talk to others to obtain suggestions for avoiding scams and fraud.
  • Have students create a one-minute podcast with a scam example and how to avoid it.

Discussion Questions 

  1. What suggestions might be offered to a bank or credit union to help them inform their customers about how to avoid scams and fraud?
  2. Describe actions a person might take if they were a victim of a scam or fraud.
Categories: Chapter 4, Chapter 6, Frauds and Scams, Uncategorized | Tags: , | Leave a comment

Top scams of 2024

Posted on May 31, 2025 by Melissa Hart

Even though the number of fraud reports is roughly the same as last year, more people lost a lot more money to fraud. One in three people who reported fraud said they lost money (up from one in four last year), adding up to $12.5 billion (up $2.5 billion from 2023). People lost over $3 billion to scams that started online, compared to approximately $1.9 billion lost to more “traditional” contact methods like calls, texts, or emails. However, people lost more money per person (a median of $1,500) when they interacted with scammers on the phone. And, once again, imposter scams topped the list of scams reported.

Here are some other things to know:

  • The biggest scam losses happened by bank transfer or payment. Among all payment methods, people reported losing more money through a bank transfer or payment ($2 billion), followed by cryptocurrency at $1.4 billion.
  • Investment scams led to big losses. A majority (79%) of people who reported an investment-related scam lost money, with a median loss of over $9,000. The $5.7 billion losses in this category are up about $1 billion from last year.
  • People reported losing money more often when contacted through social media. Most people (70%) reported a loss when contacted on a social media platform — and lost more money overall ($1.9 billion).
  • Job scams and fake employment agency losses jumped — a lot. Between 2020-2024, reports nearly tripled and losses grew from $90 million to $501 million.
  • Younger people lost money more often. People aged 20-29 reported losing money more often than people 70+. But when older adults lost money, they lost far more than any other age group.

The biggest takeaway? Reporting a fraud can make a difference. If you see a fraud or scam, the FTC wants to hear about it: go to ReportFraud.ftc.gov.

For more information, go to:

Top scams of 2024 | Consumer Advice

Teaching Suggestions:

  • Did you or someone you know report a scam to the FTC?  How do such reports help the FTC bring enforcement cases and educate people about scams?
  • Why do younger people lost money more often than people 70+?

Discussion Questions:

  1. Why is it important to report a fraud or scam to the FTC?
  2. How do you report a fraud or scam to the FTC?

Categories: Chapter 6, Frauds and Scams, Uncategorized | Tags: | Leave a comment

BEING A SUCCESSFUL SAVER

Posted on April 15, 2023 by Melissa Hart

If you desire to create/expand your emergency fund or to save for a financial goal, consider these actions:

1. Identify a specific goal. You should have both a why and a what for your savings goal. A specific amount should be determined. Too general of a goal often results in failing to follow through.

2. Track your progress. Start by budgeting an amount each month (or week) for your savings goal. This will help you move forward. Next, use a chart or a graph (or a money jar for young people) to see your progress.

3. Visualize the result.  Photos or other visuals showing your vacation location, new furniture, or other item can help keep you focused. Or write down the importance of an emergency fund, and read it out loud each day.

4. Obtain help from others. Sharing your goals with a family member or friend can help you stay accountable. Talk about the excitement when you reach your goal.  Others can offer encouragement, savings tips, or information on buying an item at a discount.

For additional information on successful saving, click here.

Teaching Suggestions

  • Have students talk to others to obtain suggestions for identifying and achieving a savings goal.
  • Have students create a visual that might be used to monitor progress toward a savings goal.

Discussion Questions 

  1. Which actions in this article would be most beneficial to you for achieving your savings goals.
  2. Describe your experiences related to achieving a savings goal.   
Categories: Uncategorized | Leave a comment

Lost Your Social Security Card?

Posted on April 9, 2022 by Melissa Hart

Consider whether you really need to get a replacement card. Knowing your number is what’s important, after all. You’ll rarely need the card itself — perhaps only when you get a new job and have to show it to your employer. If you really must replace your card, go to www.socialsecurity.gov/ssnumber before visiting your local Social Security office.

The first step is to learn what documents you need. The Social Security Administration requires a U.S. driver’s license, a state issued non-driver identification card, or a U.S. passport to prove your identity. Sometimes you may also need to prove your current U.S. citizenship or lawful noncitizen status with a birth certificate or passport.

All documents must be either originals or copies certified by the issuing agency. The Social Security office won’t accept photocopies or notarized copies of documents. They also can’t accept a receipt showing you applied for the document.

Once you’re clear on what documents you’ll need, the second step is to print and fill out the Application for a Social Security Card.  Finally, the third step is to bring or mail your application and original documents to a Social Security office. Then, the online process will take you to a screen where you can find the address of your local office.

In some areas, you can request a replacement Social Security card using your online my Social Security account if you meet certain requirements. Simply access your account and follow the instructions to replace your Social Security card. It’s safe, convenient and secure.

You can replace your Social Security card for free if it’s lost or stolen. Avoid service providers who charge you a fee to get your replacement card. You’re limited to three replacement cards in a year, and 10 during your lifetime. Legal name changes and other exceptions don’t count toward these limits. Changes in immigration status that require card updates may not count toward these limits. Also, you aren’t affected by these limits if you can prove you need the card to prevent a significant hardship.

The Social Security office will mail your card as soon as all of your information has been verified. Your replacement card will have the same name and number as your previous card.

For more information, go to:

So You’ve Lost Your Social Security Card

Teaching Suggestions

  • Ask students if anyone has lost his/her Social Security card.  If so, did they replace it?  Why or why not?
  • Under what circumstances should you replace your lost Social Security card?  Explain.

Discussion Questions

  1. What steps must be taken to replace a Social Security card?
  2. Why must all documents be original to be submitted to Social Security?
Categories: Chapter_14, Retirement Planning, Uncategorized | Tags: , | Leave a comment

STIMULUS CHECKS USE

Posted on July 3, 2021 by Melissa Hart

As a result of the economic difficulties during the COVID pandemic, many Americans received government stimulus checks. These payments were designed to minimize or avoid financial difficulties.  

Recipients of the first two stimulus checks used the majority of funds for daily living expenses with food and utilities as the top items. Those who received the third check had some significant changes in their use of the money.  An increased portion was used to pay off debt and for savings, including money set aside for an emergency fund. This trend indicated that many households experienced improved financial stability. However, among lower-income groups the third stimulus check was still needed for monthly bills and day-to-day essentials.  

People continue to be in need of a cash cushion. Financial advisors recommend using money from stimulus checks or tax refunds to pay off high-interest debt and for an increased savings account.  While many households have are better off than they’ve ever been and improving further, millions of others face ongoing financial hardship.  

For additional information on stimulus check use, click here.

Teaching Suggestions

  • Have students talk to those who received stimulus checks to obtain information how the money was used.
  • Have students describe a research system that might be used to determine the spending, saving, investing, and credit use habits of various groups of consumers.

Discussion Questions 

  1. What are reasons people are unable or unwilling to practice wise money management?
  2. Describe actions that might be taken to prepare for unexpected financial difficulties.
Categories: Budget, Chapter 1, Chapter 3, Financial Planning, Uncategorized | Tags: , , | Leave a comment

Managing your credit report

Posted on June 5, 2021 by Melissa Hart

The three nationwide consumer reporting agencies–Equifax, TransUnion, and Experian–will provide one free credit report every 12 months if you request it. As a result of a 2019 settlement, all U.S. consumers may also request up to six free copies of their Equifax credit report during any twelve-month period through December 31, 2026. These free copies will be provided to you in addition to any free reports to which you are entitled under federal law.

If you run into difficulty getting your free Equifax, TransUnion, or Experian annual credit report(s) from AnnualCreditReport.com or its toll-free phone number, try contacting the respective institution(s) directly for help:

  • Equifax, (866) 349-5191 (Option 3)
  • TransUnion, (800) 680-7289 (Option 1)
  • Experian, (888) 397-3742 (Option 2 followed by Option1)

Freeze your report

Each of these companies offers you the option to freeze your report with them if you request it. By law each must freeze and unfreeze your credit file for free if you request it. You also can get a free freeze for your children who are under 16. If you are someone’s guardian, conservator or have a valid power of attorney, you can get a free freeze for that person, too.

Free Credit Monitoring for Military

Equifax, TransUnion, and Experian provide free credit monitoring services to active duty service members and to National Guard members, by visiting the active military web pages of each company.

For more information, click here.

Teaching Suggestions

  • Ask students if they or their families have requested their credit report(s) recently.  If so, what was their experience?
  • Ask the students to make a list of circumstances that will lead them to freeze their credit reports.  When should they consider unfreezing reports?

Discussion Questions

  1. When might it be necessary to freeze or unfreeze credit reports for children who are under 16 years of age?
  2. Should federal government require nation’s credit reporting agencies to provide free credit reports to consumers?   Explain your answer.
Categories: Chapter 5, Credit Mistakes, Credit Scores, Identity Theft, Uncategorized | Tags: , , | Leave a comment

COVID-19 Tests: A financial warning for consumers

Posted on March 20, 2021 by Melissa Hart

 

The Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security (CARES) Acts required health coverage for the COVID-19 test – including the test itself, the related visit, and other services related to the testing – with no cost-sharing for individuals covered by private health plans, Medicare and Medicaid. The CARES Act, passed by Congress in March 2020, includes a provision that states insurers must pay for an out-of-network COVID-19 test at the price the testing facility lists on its website. But it sets no maximum for the cost of the tests.

Although providers are required to post the price for a COVID-19 test on a public website, there is no regulated price for the test. However, Medicare covers the testing without cost-sharing for patients and reimburses providers $51 – $100 per diagnostic test depending on the type of test administered. This price contrasts sharply with the outrageous charges made by certain providers that can run from $2,000 – $5,000 per test.

There is a better way to control the cost of testing. Here are a few reminders to help protect consumers from balance billing, and insurance companies or your employer from a costly claim.

  1. Call your doctor’s office if you are experiencing symptoms like a fever, cough, fatigue or if you think you may have been exposed to the virus. Your primary care physician will schedule and direct you to an in-network testing site.
  2. DO NOT go directly to an emergency room. There are collateral charges for a COVID-19 test at an ER that you will be responsible to pay. Before going to an ER for the test, ask yourself: Would I call an ambulance right now if I suspect exposure to the virus?
  3. For a free COVID-19 test, call your local county health department to schedule a test. If the appointment results in an extended waiting period, call or go to an urgent care facility and request a test.
  4. If you are insured, stay in-network with your health carrier. If you are uninsured, you should utilize the testing resources of your local county health department.
  5. If your symptoms warrant a test, follow the posted CDC guidelines.

For more information, click here.

Teaching Suggestions

  • Ask students if anyone in their family received a COVID-19 vaccine.  If so, enquire if there was cost-sharing.
  • If the cost of each COVID-19 test, by law, is free to the public with health coverage, how can some providers charge from $2,000 to $5,000 per test?

Discussion Questions

  1. Why is it important to first call your primary care physician if you experience symptoms like fever, cough, fatigue or if you believe you have been exposed to the virus?
  2. If you are uninsured, what are your options to receive free COVID-19 test?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Categories: Chapter 9, Health Insurance, Uncategorized | Tags: | Leave a comment

COVID-19 Robocall Scams

Posted on April 25, 2020 by Melissa Hart

Scammers are using illegal robocalls to profit from Coronavirus-related fears.  Illegal robocalls are universally hated, so why do scammers still use them? Because scammers need only a few people to take the bait for them to make money. Scammers might do that by getting your bank account number, tricking you into handing over gift card PIN codes, or stealing valuable personal information such as your Social Security number.

Crises such as COVID-19, bring out the best in people, and the worst in scammers who pretend to be from the Social Security Administration, offering fake Coronavirus tests to Medicare recipients, and scaring small businesses into buying bogus online listing services.

To hear examples of illegal robocalls exploiting concerns about the Coronavirus, and to stay up to date on the latest Federal Trade Commission (FTC) information, visit ftc.gov/coronavirus.

Now that you know what Coronavirus robocall scams are like, make sure you share this information with your friends and family members. And, if you get such scam calls,don’t believe them. Instead:

  • Hang up. Don’t press any numbers. The recording might say that pressing a number will let you speak to a live operator or remove you from their call list, but it might lead to more robocalls, instead.
  • Consider using a call blocking app or device. You also can ask your phone provider if it has call-blocking tools. To learn more, go to ftc.gov/calls.
  • Report the call. Report robocalls at ftc.gov/complaint. The more the FTC  hear from you, the more they can help fight scams.

For more information, click here.

Teaching Suggestions

  • Ask students if they or their family members have received such calls. If so, how did they respond?
  • How many students or family members have considered using a call blocking app or have contacted their phone provider to block such calls? Summarize their findings.

Discussion Questions

  1. Why is it not advisable to ask the caller to remove your name from their call list?
  2. How does reporting your robocalls help the FTC combat scammers?
Categories: Chapter 5, Identity Theft, Uncategorized | Tags: , , | Leave a comment

Reducing Impulse Buying

Posted on December 3, 2016 by Melissa Hart

All buying decisions fall into two categories: (1) items we need; and (2) items we want. Financial difficulties often occur when the categories are blurred. People try to convince themsleves that things they WANT are things they NEED, when often that is not the situation. Our true needs involve a fairly short list:  food, air, water, shelter, health care (including health insurance), clothing, and maybe…Internet access.

However, Internet access can be basis of our financial troubles. Time spent browsing online can result in many unneeded purchases.  How might you avoid this?  The following suggestions are offered:

  • Don’t buy an item right away. Delaying a purchase allows you to consider the value more carefully.
  • Review the purchases you delayed for at least a month to determine if the urge to buy the item still exists, and if the money is available.
  • Delete from your “wish list” any items that you no longer desire to buy.
  • Consider returning an item, as allowed, when the purchase does not meet your expectations.

For additional information on reducing impulse buying, go to:

Link #1

Link #2

Teaching Suggestions

  • Have students describe purchases that might have been avoided using the suggestions above.
  • Have students talk to others to create a list of methods to reduce impulse buying.

Discussion Questions 

  1. Why are some people continually involved with impulse buying?
  2. What are the short-term and long-term financial consequences of impulse buying?
Categories: Chapter 6, Uncategorized, Wise Shopping | Tags: , | Leave a comment

Online Shopping: Tips to keep close to your wallet

Posted on September 3, 2016 by Melissa Hart

Online shopping makes it easy and convenient to search for – and buy – the must have items on your wish list.  Before you buy, follow these tips on avoiding hassles, getting the right product at the right price, and protecting your financial information.

To make sure you’re getting the best deal, compare products.  Do research online, check product comparison sites, and read online reviews.

Confirm that the seller is legit.  Look for reviews about their reputation and customer service, and be sure you can contact the seller if you have a dispute.

Pay by credit card to ensure added protections, and never mail cash or wire money to online sellers.

Keep records of online transactions until you get the goods.

Report online shopping fraud.

For more information, click here.

Teaching Suggestions

  • Ask students if they have shopped online. If so, what have been their experiences?
  • Why is it important to confirm the online seller’s physical address and phone number?
  • If you return an item, who pays the shipping costs or restocking fee?

Discussion Questions

  1. What should you do if you get an e-mail or pop-up message that asks for your financial information while you are browsing?
  2. Why is it important to read the seller’s description of the product closely, especially the fine print?
  3. Why is e-mail not a secure method of transmitting financial information, such as, your credit card, checking account, or Social Security number?
  4. Where can you file a complaint to report online shopping fraud?
Categories: Chapter 6, Frauds and Scams, Uncategorized, Wise Shopping | Tags: , , | Leave a comment

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