Financial scams are getting bolder—and more expensive. In 2023 alone, the FBI received over 880,000 fraud reports, totaling $12.5 billion in losses. These scams don’t just hit seniors; millennials and crypto investors are also high-value targets. Fortunately, you can protect yourself and your loved ones by making three simple yet powerful changes today.
Step 1: Spot the Scam Before It Starts
Most modern scams start with a message. That could be a fake email from “your bank,” a text pretending to be from your credit card company, or a social media message claiming to be a friend in trouble. All of them are phishing attempts—designed to trick you into handing over your sensitive info.
Here’s how to stay one step ahead:
- Never click links or download attachments from unknown senders.
- Be cautious of urgent messages that pressure you to act fast.
- If you receive a suspicious call from a number that looks local, let it go to voicemail. Caller ID can be spoofed.
- When in doubt, contact your bank or provider directly through verified channels—not through the contact info in a sketchy message.
Step 2: Build a Digital Wall With Two-Factor Authentication
Scammers hate two-factor authentication (2FA). It adds a second step—like a text code or app-generated code—after you enter your password. That extra step makes it much harder for anyone to log in without your permission.
Here’s what to do:
- Enable 2FA on all accounts that offer it—especially financial, email, and social platforms.
- Use an authenticator app (like Google Authenticator or Microsoft Authenticator) instead of text message codes when possible. These apps generate time-based codes that reset every 30 seconds.
- Never share your 2FA code with anyone—ever.
Step 3: Ditch Weak Passwords-Let a Manager Handle It
Yes, you’ve heard it before: Use strong passwords. But let’s be real—it’s impossible to remember a different one for every account. That’s where password managers shine. They generate and store complex, unique passwords for every site you use.
What you should do:
- Use a password manager like 1Password or Bitwarden. These are encrypted and trusted by security experts.
- Choose a long, memorable master password—this is the only one you’ll need to remember.
- Let the manager autofill passwords securely across your devices.
“People are creatures of habit,” says Robb Dunewood, tech expert and host of the Tech Jawn podcast. “That’s why a password manager is crucial for staying secure.”
Secure Yourself and Someone You Love
Taking action on these three steps takes about an hour. But the peace of mind you’ll gain is priceless. Once you’re done locking things down, help your parents, grandparents, or anyone else in your life do the same. Scammers thrive on easy targets—make sure you’re not one of them.
