It's that time of year again! The stores are packed with pencils, crayons, and everything you need for back-to-school. But watch out! Scammers are ready to take advantage of unsuspecting students and parents.
Here are some popular scams to be aware of:
Don't fall for this one! Scammers pretending to be from the IRS might call you and demand immediate payment of the "student tax." They might even threaten you with imprisonment. But here's the truth: the "student tax" isn't real, and the IRS will never contact you by phone. They also won't ask for payment through a prepaid debit card or wire transfer.
Be careful of companies that promise approval for a scholarship or grant in exchange for a fee. It's likely a scam. You generally don't need to pay anything to get a scholarship. Don't pay to apply for government student loans or financial aid.
Free back-to-school shopping sprees might sound great, but be cautious of messages promising these giveaways. They might ask for your email address to claim your prize, but then you could end up with endless emails, texts, and robocalls from the company. Sometimes, the scammer might even demand a "processing fee" before giving you your prize. If it sounds too good to be true, it probably is. Legitimate contests will rarely select a winner out of thin air, and there is generally no payment necessary for claiming a prize.
It's essential to be cautious of social media scams that offer unbelievable school supplies deals. These scams can come in the form of discounted gift cards or technology at unbeatable prices. However, it's important to remember that these offers are fake and could harm your device with malware if you click the link. Always stay alert and trust your instincts. If an offer sounds too good to be true, it probably is! Avoid the temptation of purchasing an iPad for $19.99 or a $1000 gift certificate for just $250. It's best to ignore these ads and opt out of receiving them in the future.
Stay safe this back-to-school season by following these tips! Learn more about protecting your family from financial fraud at AzuraCU.com/Security!