Ace Epps has seen it time and time again.
People open an email from their bank. Something is wrong with their finances, the message states, and they must provide their account number to fix the problem.
The top of the message appears to feature their bank’s logo, and the email might even be signed by the banker who helps them at their local branch.
But once they’ve clicked the links in the email and provided personal information, their gut tells them they’ve made a horrible mistake. Sometimes, that mistake results in money being illegally withdrawn from their accounts.
Other times, correcting the mistake requires trips to their bank to undo the fraudulent actions of strangers who prey on unsuspecting victims.
Epps is the Akron community manager with JPMorgan Chase Bank, inside House Three Thirty at 532 W. Market St. in the city’s West Hill neighborhood. He said people need to be particularly vigilant this time of year as the National Retail Federation predicts record holiday spending.
“It’s OK to be skeptical when something is suspicious,” he said.
Ohioans lost more than $228 million last year to fraud and scams, according to the Federal Trade Commission. Staying vigilant, monitoring your bank accounts and knowing how scammers work are valuable ways to protect your finances and personal information, Epps said.
Here are the five most common scams to watch out for
Travel scams:
People often take trips around the holidays or plan escapes to warmer climates during the winter season.
- Don’t book your vacation on an unfamiliar website.
- Do search online for the website’s name plus “scam” or “reviews” to see what other customers think of the company and its services.
- Do book your trip using a credit card; most credit cards protect users in case there is a dispute with the product or service.
Missed packages or delivery scams:
A common scam this year is a text message that looks as though it is from a delivery service and states that there was a problem delivering a package.
- Don’t click on the links provided, scan QR codes you didn’t request or share personal information.
- Do contact the delivery company directly if you suspect an issue with your package.
Online deals:
Gift-givers often purchase presents online. If the company’s name is misspelled in the website, that’s a good sign that it’s not legitimate.
- Don’t purchase from sites you don’t already know and trust.
- Don’t send money to strangers.
- Do complete transactions on official platforms and use payment methods with buyer protection.
Phony charities:
During the holidays, people often support their favorite charities and nonprofits with monetary gifts.
- Don’t click on links or open attachments in emails from unfamiliar organizations or email addresses.
- If a local nonprofit calls to request a donation, Epps suggests you “cross your t’s and dot your i’s.”
- Do look up the organization online and call them directly to donate.
Gift card scams:
Giving gift cards lets loved ones choose their own present online or at a store, but Epps said a recent scam includes third-party distributors that are selling expired gift cards.
- Don’t respond to gift card offers you didn’t request.
- Don’t buy gift cards from people you don’t know.
- Don’t pay for gift cards with cash.
- Do purchase gift cards directly from the retailer.
How to be smarter than the scammers
The best way to avoid scams and fraud, Epps said, is to slow down when clicking through your emails or checking your texts.
“I tell people all the time: If it’s too good to be true, it might be too good to be true,” he said.
If you think you may have gotten involved in a scam or fraudulent transaction, document your conversation with the person and stop communicating with them. Then contact your bank — also report the incident to local police. You can also report to the FTC, which won’t resolve your individual issue but will use the information to investigate and bring cases against fraud, scams and other bad business practices.
JPMorgan Chase hosts fraud and scam education workshops all year long — they’re aimed at all ages, including seniors, children (who are less likely to be suspicious of scam messages) and college students, who are just starting to build their credit. All can fall victim to being exploited.
“In the workshop,” Epps said, “I tell people, ‘You’re trying to protect your assets and your money, and other people are working just as hard to take it.’ So it’s up to you to make sure.”
The free workshops in Akron are open to the community. Epps said he often partners with Det. Troy Looney from the Akron Police Department’s financial crimes unit. The next program is Jan. 19 at 10 a.m. at the Chase Akron Community Center, 50 S. Main St. in downtown Akron. Chase also offers free workshops on budgeting, home lending and investments.
If something suspicious arrives in your inbox or on your phone before the next Chase workshop, Epps invites anyone – even if you’re not a Chase client – to stop by the House Three Thirty branch to meet with him on Fridays from 11 a.m. to 2 p.m.
Editor’s note: JPMorgan Chase is a corporate sponsor of Signal Akron.