Don't fall prey to these 4 common bank scams investinyou (In partnership with acorns.)
In the Covid-19 era, financial scams are increasing in variety and sophistication., deposit account fraud losses topped $25 billion in 2018 – and that figure is likely still growing. The dizzying variety of scams is ever-evolving, too, so it's important to periodically refresh your understanding of the most common banking scams, and how to avoid them., but the tactics scammers use to extract sensitive personal and banking information are.
When you cash it, you inadvertently make purchases or sign up for a loan. Another involves sending you a counterfeit check, which you're asked to deposit and wire part of the money back to the scammer. You're then on the hook for the entire amount of the counterfeit check. Be particularly aware of fake Covid stimulus checks, or people claiming to be assisting you with obtaining, cashing, or managing stimulus money.
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