I hope you don’t need these: Reporting junk can help officials stop these creeps. Forward spam texts to the FCC at 7726 (that’s SPAM). For scam calls where you lost money or info, go to ReportFraud.ftc.gov. For quicker reporting, go to DoNotCall.gov.
When your stock is actually a scam
ChatGPT
I don’t mean to be a downer, but I need to warn you that tens of thousands of Americans, folks just like you, are getting duped into buying worthless Chinese stocks.
The Wall Street Journal (paywall link) found even seasoned investors are falling for this scam, losing big bucks in the blink of an eye.
How the scam goes down
Fraudsters hype obscure Chinese companies using flashy but totally fake online marketing. We’re talking bogus financial reports, glowing endorsements from so-called “experts,” and completely made-up news stories claiming revolutionary breakthroughs.
It’s like the Netflix Original version of Wall Street. Investors think they’ve discovered the next Tesla or Amazon. Fraudsters generate online buzz like it’s a Marvel premiere.
You’ll see anonymous Reddit accounts praising a “groundbreaking diagnostic technology” that cured their dog’s cousin’s gluten allergy. Influencers squeeze out TikToks looking like TED Talks, promising, “You’ll 10X in 3 days or I’ll eat this protein bar on camera.”
Then the scammers quietly cash out, the stocks crash, and everyday people are left holding worthless paper.
- Mike from Texas dropped over $40,000 after he followed advice from an online forum screaming success about a so-called groundbreaking Chinese biotech company.
- Emily, a teacher from Florida, poured her entire retirement savings into a Chinese company promoted by a convincing finance influencer. Turns out, the company didn’t even exist. Her retirement vanished almost overnight.
- Jim from Illinois? Fell for sleek emails teasing “exclusive tips.” The only thing exclusive about it was how fast his kids’ college fund evaporated chasing a Chinese electric vehicle startup that disappeared overnight.
So, what do you do?
Be smarter. Please.
- Steer clear of “secret tips”: If someone promises huge returns on a secret investment, walk away. It’s all smoke and mirrors.
- Do your homework with trusted sources: Cross-check on Bloomberg, Yahoo Finance or the SEC. Can’t find details? Run. If you’re sourcing from a comment section, stop.
- Watch out for social media buzz: Hype on Reddit, Twitter and Discord is a huge red flag. Influencer-driven frenzy rarely points to solid investments.
Don’t let scammers ride off into the sunset with your life savings while you’re left in an empty Reddit asking, “Wait, did anyone else lose everything?”
How I stopped scammers cold
ChatGPT
“Kim, Lifelock has gotten so expensive. Do I even need it?” — Matt in Texas
I’ve been hearing this a lot, Matt. I agree, LifeLock is pricey. My bill was $239.88 a year. Now, I’m paying $62.64 a year, that’s a 74% savings! More about that later.
The Microsoft Windows Defender scam
Scammers pose as Microsoft to trick you into calling fake support numbers. Here’s how to protect yourself.
Tax tip: The IRS is urging taxpayers to enroll in its Identity Protection PIN program, which relaunches this week. This six-digit number is assigned to you and prevents scammers from filing tax returns using your SSN and personal info. To get yours, create an account on the IRS website, verify your identity through ID.me, then click Profile and scroll down to the IP PIN program.
Kim’s cart: 10 genius buys that keep you (and your stuff) safe
ChatGPT
I test a lot of gear. Every product here solves a sneaky problem and helps you stay one step ahead of scammers, snoops and opportunists. I’ve done the digging so you don’t have to. Let’s go shopping!
Fraudsters love “washing” checks and rewriting new amounts unless you use this pen. Its ink chemically bonds with paper, so the info can’t be scrubbed off. Get Uni-ball 207 Gel Pens ($6.08).
We may earn a commission from purchases, but our recommendations are always objective.
Scam in the skies
ChatGPT
I am hearing more and more reports about a certain travel scam that is not making the tech sites or mainstream news.
A “travel agent” or travel site selling fake plane tickets. You pay real cash for a flight that doesn’t actually exist, like booking a table at a restaurant that burned down in 2006.
Grandma got played, but not by bingo
Let me tell you a true story that’ll shake you and hopefully protect someone you love from heartbreak or a well-rehearsed scam call.
It happened to a 90-year-old grandmother in Nashville. She picked up the phone because that’s what she’s always done. On the other end was a young woman, her voice trembling, the connection staticky. “Grandma, help! I was in a car accident. I need you to talk to a lawyer right now.”
How to get a job as a mystery diner
Any restaurant worth its salt wants to know what it’s doing right and what it’s screwing up. And they’re willing to pay you for that info. But they can’t just judge servers and kitchen staff when they’re on their best behavior. They need someone undercover.
6 signs your vacation rental is a scam
© Mark Winfrey | Dreamstime.com
It’s that time of year when so many of us are planning vacations and booking a rental. Sadly, scammers are very aware of that, and they’re always changing their tricks to fool people out of their money, rentals — or worse.
Lights, camera, AI: Johnny Depp says scammers are using AI to fake his voice and attempting to steal cash and personal info. He told his Instagram followers he’s not on X, Snapchat or Discord, so anyone claiming to be him is a fake. Reba McEntire and Kelly Rowland are targets, too. If your idol wants your money, it’s a scam.
The Hollywood celebrity scam
Scammers are using AI and fake celebrity connections to trick victims into sending thousands. Here’s how to spot and stop them.
The fake PayPal invoice scam
If you have a PayPal account, you’ll almost certainly see this scam in your inbox at some point. Know what to look for so you’re not tricked.
💔 Me love you long time: Nearly a decade ago, a handsome U.S. Marine discovered his photos were being used in a multibillion-dollar romance scam. Hundreds of women have been conned out of their money, and it’s still happening today. The worst part? Victims contact his wife to warn her he’s up to no good. Here’s the full story I wrote for The Daily Mail, with all the juicy details.
Looking for a job? Don't fall for this scam
Scammers use fake jobs to steal your info or charge bogus fees. Here’s how to spot the red flags and stay safe.
Phishing scams are getting amped up: No more copy and paste. Criminals are using AI to scrape up tons of detail and then write in the style of specific people or companies. Corporate execs and employees are getting emails with info only the sender would know, like just how they sound (paywall link) — yet another reason to wipe your info off the web.
⚠️ “Synthetic identity fraud”: That’s when scammers use stolen Social Security numbers (often from kids) and add bogus names, birth dates and email addresses to create fake personas. They open credit cards, max them out and leave a trail of debt. Losses from this scam are projected to hit $5 billion next year. Have a kid 13 or younger? Fill out this form to see if they have a credit report, and freeze it if they do.
💔 $1 billion in romance scams: That’s how much more than 64,000 Americans were talked out of, double the total four years ago. The Online Dating Safety Act could help. If approved, it’d require dating apps to notify anyone who has come in contact with a scam account. This begs the question: If they can identify scam accounts, why can’t they just remove them?
😤 Life savings, gone: Here’s another money scam making the rounds. Kay, 80, from Virginia transferred her money to a “secure account” after someone claiming to work for Wells Fargo called, saying her money was in danger. They drained her savings account of tens of thousands until nothing was left. If you get a call your money is at risk in some way, hang up. Call your bank directly using the number on the back of your card.
“The biggest influencer scam of all time”: That’s what YouTuber MegaLad calls the coupon browser extension Honey, which PayPal bought for $4 billion in 2020. He says they’ve been deceiving shoppers and influencers for years by ignoring coupon options and hijacking links through sneaky pop-ups. Watch the vid here. While I’m researching to see if this is true, I uninstalled Honey and you should, too. I’ll let you know what I find out.