Council on Aging - Answers 2023 - 61

COUNCIL ON AGING - SOUTHERN CALIFORNIA
money. Pig Butchering (fattening the target)
usually involves crypto currency, where the online
romantic interest has tricked the victim into
online crypto investment.
Grandparent Scam - A form of imposter scam
in which the scammer calls a person, pretending
to be a family member in distress and pressuring
the person to send money immediately for bail,
hospital bills, etc.
Grant Scam - Scammers claim that you are
eligible for a government grant and offer to
forward it to your checking account as soon as you
give them your account information, which they
sell or use to steal your money. The scammer may
spoof the number of the government agency they
claim to be representing.
Hacker - A computer savvy person who knows
how to break into systems or defy the rules of
computer programs.
Identity Theft - Scammers can steal a person's
identity (often through the fraudulent use of their
Social Security numbers or credit cards) and create
debt in the innocent victim's name, steal their
assets or gain their IRS refunds or unemployment
benefits.
Imposter Scam - When scammers contact
consumers through a phone call, robocall, email,
or other communication falsely claiming to be
from the IRS, Social Security Administration,
immigration authorities, or some other
government agency or entity, demanding
immediate payment, often by untraceable methods
like gift cards.
Malware - Malicious software installed on a
computer or other device that can cause it to crash,
be used by criminals to monitor and control users'
online activity, turn on cameras/microphones,
steal personal information, send spam, and
commit fraud. This can happen when clicking on
an unsafe website or questionable link as well as
downloading infected files.
Money Mule - A person who is asked to create
or use an account in their name or that they
control to move the proceeds of a crime (also
known as money laundering). Fraudsters deposit
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money into the bank account of the person acting
as a money mule or send them a check for deposit
with instructions to transfer it to a different bank
account making profits difficult to trace.
Phishing - Sending fraudulent emails or
making fraudulent calls appearing to be from a
trusted source (bank, government agency, utility
company, internet provider, etc.) aimed at tricking
an individual into disclosing sensitive or personal
information such as credit cards, banking
information, passwords, or Social Security
numbers.
Ransomware - Malware that locks a computer
or device, encrypts the files so they cannot be
accessed and then demands a paid ransom to
unlock it.
Smishing - Named for the SMS (short message
service) technology used to send text messages; it
means phishing attempts made on cellphones.
Spoofing - Any situation in which scammers
masquerade as a specific person, business, or
agency. The term is typically used to describe the
manipulation of telephone Caller ID to display a
false name or number for the caller or incoming
email that appears to be from a person you know.
Spyware - Type of malware installed on
consumers' computers without their consent to
monitor their computer use, send pop-up ads,
redirect computers to certain websites, or record
keystrokes, which could lead to identity theft.
Tech Support/Scareware Scam - A form of
fraud in which a scammer contacts a consumer
either online or by phone, claiming to be from
their computer or software company. Scammers
will falsely state that the person's device has been
infected by a virus or other form of malware.
These often appear as pop-up messages. They
then charge people to " fix " the non-existent defect
or remote into their device to steal personal
information.
Vishing - Short for " voice phishing, " it is the
use of recorded messages to telephones - usually
claiming to be from a bank - with the goal of
tricking you into revealing personal or account
information for identity theft.
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FINANCE, LEGAL & FRAUD PREVENTION
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Council on Aging - Answers 2023

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