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Here's something that's very concerning.

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According to the American Association of Retired Persons, or AARP,

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consumers age 60 and older are five times more likely than their younger counterparts to lose money to tech support scams.

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These crimes cost older Americans more than $175 million in 2023.

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During these tech scams, which are widely used against people of all ages, fraudsters pretend to be an IT support pro offering to fix a computer problem.

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They convince their victim to share passwords, sensitive data or even to pay for services that aren't needed or provided.

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Here are some other scams to watch out for.

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AI powered scams that use AI to create fake voices, deepfake videos, or even convincing hard to detect phishing emails.

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Government imposter scams when fraudsters, for instance, impersonate officials of the IRS, falsely alarming victims by informing them that they owe taxes and need to pay them urgently.

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Imposter scams occur when fraudsters pretend to be trusted people from a business you know, or from a government agency, or both. This is when fraudsters trick victims into sharing personal information or sending money.

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Fraudsters can also be seeking to steal all kinds of sensitive data, such as professors’ academic research data, and student records.

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The financial repercussions of fraud are enormous.

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According to the Federal Trade Commission,

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consumers lost more than $12.5 billion to fraud in 2024,

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an increase of 25% over 2023.

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The good news is these scams can be avoided. Consider these do's and don'ts to protect yourself.

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Let's go through the don'ts.

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One, don't give money to someone you don't know.

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Two, don't succumb to fraudsters pressure to send money quickly.

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Three, don't hide and be ashamed if victimized by fraud. Share what happened.

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Four, don't send money via gift cards, crypto or other suspicious payment methods.

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Now let's run through the do's.

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One, verify identities. Always confirm the identity of individuals who contact you, especially if they ask for personal information or money.

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Two, be cautious of unsolicited emails, phone calls or messages. If suspicious, hang up the phone and do not reengage.

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Three, converse with family and friends about fraud schemes you're aware of and how to avoid them.

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Protecting your data is paramount. The key here is to always be vigilant.