When you’re working hard to build wealth and manage your money wisely, the last thing you need is a scammer trying to steal what you’ve earned. Unfortunately, chaotic times—like economic uncertainty or major world events—tend to bring out bad actors looking to exploit people’s concerns and vulnerabilities. The good news? You can protect yourself with some awareness and smart habits. Let’s walk through the most common scams you should know about and how to keep your money (and your peace of mind) safe.

PPE and Fake Treatment Scams: Too Good to Be True

When people are worried about their health and safety, scammers pounce. You might see offers for personal protective equipment (PPE) or miracle treatments, often advertised online or via unsolicited messages.

Here’s what these scams typically look like:

• The PPE seller: Someone offers equipment or supplies at a “great price,” insists on payment upfront via wire transfer or gift card, and refuses to meet in person or provide verifiable business information.
• The work-from-home angle: “Earn money making PPE from home!” sounds appealing until the “employer” asks you to pay for manufacturing equipment upfront. Spoiler: the equipment never arrives, and neither does a paycheck.
• The fake treatment: Someone promises an unproven “cure” or preventative treatment. Even if you receive something, it has no scientific basis and likely won’t help.

How to protect yourself:
– Never pay for anything without verifying the seller through multiple channels. A quick search, phone call to their official number, or check with the Better Business Bureau can go a long way.
– Remember: there are no secret, unproven treatments. If it sounds too good to be true, it is.
– Stick with trusted retailers and official health sources for any products or information.

Contact Tracing and Mobile Banking Scams: Fake Officials and Malicious Links

Scammers are also impersonating health officials or sending fake alerts claiming you’ve been exposed to illness. These messages often include links that, when clicked, install malware on your phone—giving hackers access to your banking apps, passwords, and personal information.

The risk is especially high if you’re banking on your phone (which many of us are doing more than ever). Sophisticated scams can create fake versions of legitimate banking apps that look identical to the real thing—but they’re actually designed to steal your credentials.

How to protect yourself:
– Never share sensitive information over the phone with unsolicited callers—especially not your Social Security Number, account numbers, or passwords.
– Don’t click links in text messages unless you’re 100% certain the sender is legitimate. When in doubt, contact the organization directly using a number you know is real.
– Use multi-factor authentication on all your important accounts (banking, email, social media). This adds an extra security layer that makes it much harder for hackers to gain access, even if they have your password.
– Set up text filtering on your phone to reduce the number of suspicious messages you receive.
– Keep your phone updated with the latest security patches—they exist for a reason.

Keep Your Money Moving in the Right Direction

Your financial goals are too important to let scammers get in your way. By staying aware of common tricks and following these protective steps, you can focus on what really matters: building wealth, paying down debt, and letting your money work for you.

When in doubt, always verify before you trust, and don’t hesitate to reach out to official sources or trusted advisors. Your future self will thank you.