Fraud Watch August 2024: Social Security, Giveaways, and Home Improvement

Fraudsters are lurking around every corner. From social security scams to social media giveaways and home improvement scams, it’s important to stay vigilant and informed. Let’s dive into these scams and learn how to protect ourselves from falling victim.

Top 3 Ways to Keep Your Money Safe:

1. Do not give your login credentials to anyone — including anyone claiming to be from BankSouth.
2. Don’t share your personal information or account numbers. BankSouth and other financial institutions will never ask for your account number, personal information, or login credentials over the phone or email.
3. Avoid clicking on any links in any unsolicited emails or text messages. When in doubt, don’t click.

In August, our very own David West, Director of IT at BankSouth, appeared on Athens CEO to provide tips on keeping your bank account and other information secure online. Watch his video!

Now onto this month’s Fraud Watch roundup!

Social Security Scams

Get a call from a Social Security “agent” requesting a money hand off in person? Don’t fall for it. The Social Security Administration has received many reports that consumers are being contacted by SSA “agents” by phone or email. These impersonators are requesting them to meet in person to hand them cash for unpaid debts or threatening their social security benefits may be at risk. This is not how the SSA conducts business – they will never ask you to meet in person to hand off cash, checks, or gift cards.

Scammed by Social Security Administration impersonators? Please report it to the Office of the Inspector General.

Social Media Giveaways

We’ve all seen the social media giveaways in an effort for influencers and companies to grow their online presence in exchange for a free gift. However, scammers create fake giveaways or contests, promising non-existent prizes. The “rules” request personal information to participate. Once you hand over this information, they can use it for identity theft or other fraudulent activities.

Be cautious of giveaways that seem too good to be true, and never share your personal information with anyone or company you don’t know and trust.

Home Improvement Scams

Home improvement scams often involve contractors who offer unrealistically low prices for services, pressure homeowners to make quick decisions, or use substandard materials. They may also fail to complete the work as promised or charge additional fees for unexpected costs or materials.

Homeowners should be wary of contractors who avoid providing written contracts or references.

Stay Protected From Scams

We see fraud attempts almost every day. While we do our best to keep every customer protected, there are ways you can prevent fraud from happening to you.

Stay one step ahead and bookmark our help article on avoiding and reporting scams. We update this article regularly to keep you in the know of the latest scams.

• Recently reported scams
• Tips to avoid scams
• How to report a scam
• What we WILL and WILL NOT ask for to verify your identity

More tips to avoid fraud can be found here.

Source of this month’s scam information:

Social Security:
https://oig.ssa.gov/assets/uploads/scam-alert-handing-off-money-to-agents.pdf

Giveaways:
https://consumer.ftc.gov/consumer-alerts/2023/11/slow-your-scroll-spot-and-avoid-social-media-giveaway-scams

Home Improvement:
https://www.nar.realtor/magazine/real-estate-news/sales-marketing/5-signs-of-a-home-improvement-scam