PHOENIX (AZ Family) “It seems the scammers are always one step ahead.” Just when you think you know what to look at, they come up with something new.

Here’s a new twist on an old scam called an impersonation scam. You receive a phone call or text message from your bank informing you that your debit card has been used fraudulently, but it is not your bank; is a scammer trying to scare you into making bad decisions.

Margarita Alvarez, a fraud expert at Wells Fargo, told On Your Side that the Federal Trade Commission documented that victims were defrauded out of $2.7 billion using the impersonation scam last year.

“The data is certainly alarming,” Alvarez said.

She said that after a scammer convinces you that someone has used your card fraudulently, they now trick victims into thinking that a bank representative will come to their home to help stop the fraud.

“I’ve seen numerous situations and examples of people saying, ‘Well, let me come over and pick up your debit card, or why don’t you just proactively send it to me at this general address,'” she said .

It sounds crazy, but people fall for it.

Alvarez also said there has been an increase in scams that rely on artificial intelligence, also known as AI.

“You end up making the scammers work to be able to use artificial intelligence to be able to pose as a family member, even down to details like being able to impersonate their general voice,” she said.

Alvarez said there has also been an increase involving cryptocurrency and investment scams. She says scammers manipulate people into making fake cryptocurrency investments, promising big, fast returns and then disappearing with the funds.

And finally, since online shopping is so popular during the upcoming holidays, you need to avoid shipping and delivery scams. That’s where the scammer poses as FedEx or UPS and tells you to click on a link about delivery issues. Don’t you dare.

“Scammers use this method to also be able to get information through tracking numbers and require you to be able to interact essentially, you know, through text or like your mobile device or email in general,” Alvarez said.

Remember, never share your personal information. Don’t trust caller ID. Scammers are professionals at making it look like the call is coming from your bank or sounding like a legitimate bank representative. And don’t be pressured into anything.

Alvarez said scammers even contacted her recently trying to con her out of money. Little did they know, they were calling in a fraud expert who knew better.

“It’s very important to be vigilant, but if this kind of activity can happen to me, can you imagine what happens and the level of abuse that happens to our average everyday consumer?” she said.

Here are some top scams that Wells Fargo warns of to watch out for and tips to protect yourself:

Common Scams of Imposters:

• Card “Withdraw/Replace” Scam: Scammers pose as bank representatives claiming your debit card has been compromised and tell you to pick it up or direct you to mail them the card. They may even ask for your PIN as “verification”.
• Artificial Intelligence Scams: Scammers can use AI to clone the voice of a loved one or trusted person to create deepfake calls, images or videos, then ask for emergency money.
• Payment App Scams: Scammers send text messages or emails asking you to confirm or decline a fake payment or charge. If you answer, they may call back pretending to be a bank representative and then trick you into sending money – often via another P2P payment method, gift card, bank transaction or by sending money directly to another account – to to “reverse payment” or prevent other “fraud” from occurring.
• Cryptocurrency and Investment Scams: Scammers manipulate people into making fake cryptocurrency investments, promising big and quick returns and then disappearing with the funds.

Prevalent Holiday Scams:

• Package Delivery and Shipping Scams: Scammers send a fake email or text saying there is a problem with the delivery or shipment and give you a fake link/tracking code. Clicking on the link may direct you to either provide personal/financial information or even install malware on your device.
• Online Market Merchandise Scams: Scammers lure you in by offering you great deals or deep discounts that aren’t real. They may use fake websites, social media ads, a friend’s hacked social media account, or malicious links to try to steal your personal information or money.

Tips to protect yourself:

• Wait and validate: If you receive an unexpected text, email or phone call, do not answer or click on any links. Check the legitimacy of the communication.
• Check the recipient: Only send money to someone you know, trust, and can confirm. Once you approve sending funds, the money leaves your account and is often unclaimed.
• Set up alerts: Use account alerts and two-factor authentication and monitor your accounts frequently.
• Be vigilant: Anyone can experience a scam. When in doubt, stop and get help.
• Do not share personal information: Do not share your usernames, passwords, PIN numbers or access codes.
• Don’t trust caller ID: Scammers can spoof legitimate phone numbers by changing the caller ID.
• Don’t be pressured: If someone asks you to make a payment using a gift card, cryptocurrency, or prepaid card, it’s a clear sign of a scam.

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