The Consumer Financial Protection Bureau (CFPB) has released a warning about scammers posing as CFPB employees trying to defraud members of the public. All people, especially older adults, should be on the lookout for these suspicious phone or video calls.
The CFPB will NEVER contact you and ask for sensitive information or to pay money. This includes:
- Asking to pay an upfront fee or taxes.
- Telling you that you’ve won a lottery, sweepstakes, or class-action lawsuit.
- Asking for personal or sensitive information before you can cash a check they issued.
Be on the Lookout – the latest scams may include:
- A phone or video call or an email from an imposter claiming to be a CFPB or other U.S. government official.
- Messages or calls notifying you of an opportunity to participate in a class-action lawsuit, or that you’ve won a lawsuit or owe money you didn’t expect.
- Being told you must first pay taxes or another upfront fee to collect the money. They may continue to find “reasons” for you to pay more fees or taxes. It is all part of the scam.
If you suspect or become the victim of a CFPB imposter scam, report it at Federal Reserve Office of the Inspector General.
SIGNS OF IMPOSTER SCAM:
Scammers could reach out to you by phone, mail, email, text message/SMS, social media, messaging apps, or through other online channels. Scams can also occur in person, at home, or at a business.
Here are some common signs of the scam:
- You’re told you’ve won a sweepstakes or lottery you didn’t enter, or that you’re owed money from a class-action lawsuit.
- You’re asked to pay upfront taxes or fees – either foreign or domestic.
- You’re being pressured to act now. Scammers don’t want you to take the time to do research or to think too carefully before parting with your money.
- A person claiming to be a government official contacts you to confirm your windfall. The emails sent may even appear to be from real government email addresses, but if you look further, the email is not from a “.gov” email.
LEARN HOW TO PROTECT YOURSELF:
Criminals and scam artists may try different tactics or ways of reaching you, but here are tips for how to protect yourself or your loved ones from scams:
- Don’t share sensitive information – Avoid sharing Social Security numbers, account information, or credit card numbers with people you don’t know.
- Never pay upfront for a promised prize – If you’re told you must pay fees or taxes to receive a prize, it’s a scam.
- If it sounds too good to be true, it probably is – If someone is trying too hard or pressuring you, you can always walk away.
If you suspect or become the victim of an imposter scam, report it at ReportFraud.ftc.gov.
*Beware of New CFPB Imposter scams, Consumer Financial Protection Bureau.