Over 60% of People Have Never Been Scammed: 8 Things They’re Doing Right

The first known currency was the Mesopotamian shekel, which dates back nearly 5,000 years – and financial scams probably started just a short while later. Today, Americans lose billions of dollars a year to financial fraud. Nearly 40% of U.S. adults surveyed by GOBankingRates reported being victims of some kind of fraud . These folks can learn a lot from the more than 60% who haven’t been scammed.

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Consumers reported losing more than $10 billion to scams in 2023, according to the Federal Trade Commission. It marked the first time fraud losses passed that benchmark and represented a 14% increase from the prior year. A big reason financial fraud is on the rise is because modern scammers are using advanced technology – including artificial intelligence .

“Digital tools are making it easier than ever to target hard-working Americans, and we see the effects of that in the data we’re releasing today,” Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, said in a February 2024 press release.

The GBR survey, conducted earlier this month, asked 20 different questions about the frequency and type of fraud Americans face and the dollar amounts they have lost. Here is a breakdown of responses when asked about the type of fraud :

• Mail fraud: 10.96% of respondents
• Check fraud: 13.84%
• Business fraud: 6.77%
• Investment fraud : 4.88%
• Charity and disaster fraud: 3.88%
• Consumer fraud: 12.95%
• Elder fraud: 3.49%
• Never experienced fraud: 60.86%

One of the best ways to avoid financial fraud is to learn from those who’ve never fallen prey to it. For the more than 60% of American adults who have avoided scams, here are eight things they’re doing right, according to the FTC and the Consumer Financial Protection Bureau.

1. They block unwanted calls and text messages. Your smartphone probably has a function that lets you block calls and messages from people you don’t know or trust. Take steps to block unwanted calls and filter unwanted text and email messages.
2. They keep sensitive data secret. Don’t share numbers or passwords for your financial, credit cards or Social Security accounts.
3. They never pay upfront for a promised prize. If you’re told you must pay fees or taxes to receive a prize or other financial windfall, it’s probably a scam.
4. They don’t give personal or financial information in response to an unexpected request. As the FTC noted, honest organizations won’t call, email or text to ask for personal information such as your Social Security, bank account, or credit card numbers. Even if you get a communication from a company you do business with, don’t click on any links. Instead, contact them using a website you know can be trusted or look up their phone number.
5. They are wary of certain types of payment requests. Never pay someone who insists you can only pay with cryptocurrency, a wire transfer service, a payment app or a gift card. Also, never deposit a check into someone else’s account unless you know and trust them.
6. They don’t click on links or scan QR codes. These can take you to scammers’ malicious websites or give them access to your device.
7. They steer clear of deals that sound too good to be true. If someone offers you a deal that is much better than what’s being offered elsewhere for a similar good or service, it’s a huge red flag.
8. They put their numbers on the National Do Not Call Registry. You can do this by visiting www.donotcall.gov or calling (888) 382-1222. When you block unwanted sales calls, you also block potential scams.

This article originally appeared on GOBankingRates.com : Over 60% of People Have Never Been Scammed: 8 Things They’re Doing Right