As Prices Rise, Keep an Eye Out for Scammers

The Federal Trade Commission recently warned consumers to keep an eye out on scammers who are taking advantage of people wo are worried about high prices impacting their budgets. With the cost of groceries, housing, and many other things rising, consumers may be looking for ways to cut costs.

Scammers may zero in on your anxiety over money in several ways. They might say they’re from the government and giving away grant money for home repairs or unpaid bills. They might say they have an investment that’s guaranteed to deliver quick and high returns. Or they know of a high paying job that’s yours as soon as you pay a fee or give them your personal information.

To spot and avoid these types of scams, here are some things the FTC recommends consumers be aware of:

• The government won’t get in touch out of the blue about grants. It won’t call, text, reach out through social media, or email you. In fact, real government grants require an application, are completely free to apply for, and are always for a specific purpose.
• All investments have risks. No one can guarantee a specific amount of return on an investment, or that an investment will be successful.
• Honest employers won’t ask you to pay to get a job. If someone claims you can make a lot of money in a short time with little effort - such as paying for starter kits, training, or certifications- that’s a scam.

If you come across any of these, or other scams, report it to the FCT at ReportFraud.ftc.gov.