Cybercrime and scams can be detrimental to your financial success. A recent poll reports that 15% of Americans say they, or a household member, fell victim to a scam in the past year. One particular scam is easy to fall for given its simple nature. Let’s walk through the “Say Yes” scam, steps to take and how to protect yourself and your family.
What is the “Say Yes” Scam?
A “Say Yes” scam is a criminal scheme aimed to record your voice saying “yes”. In this scenario, the caller would ask if you can hear them immediately after you pick up the phone. If you say yes, that can be recorded and used to authorize something fraudulently. Once you respond, the caller typically hangs up quickly. It can be so easy to simply answer “yes” when you are caught off guard so we have compiled some steps to protect yourself from financial scams.
Use Caller ID to Screen + Hang Up
One easy way to prevent becoming a victim of a financial scam is to monitor your caller id. If you do not know who is calling and do not recognize the area code, do not pick up. Many phone carriers now label calls with a “potential scam” message. If you receive one of these calls, don’t attempt to answer it. Being aware is one of the most impactful tools you can have in your toolbelt to combat financial fraud.
The next step you can take, if you do answer your phone, is to recognize the fraudulent nature of the call. If you are aware of cybercriminal tactics, you can recognize when a caller is trying to scam you. Simply hang up if an unknown caller tries to immediately get you to respond with a “yes” answer.
Report
Another step to protect yourself and others is to report a number that you suspect is part of a scam. The Better Business Bureau is a great place to report a scammer. Submit the scam information at BBB.org/ScamTracker to report a scam and to look up a scam.
Check to Make Sure Finances are Secure
Being mindful of your financial scenario is a good way to stay protected. Tactics like using strong passwords for financial accounts and monitoring online retirement accounts will help protect you from cybercriminals and financial scam artists. For a full list of defensive financial tactics, take a look at our checklist here.
Be Wary of Pressure Tactics
Lastly, another way to avoid fraud is to be aware of pressure tactics. If a caller, salesman or even an email pressures you to make a very quick decision, it is wise to take a step back and evaluate your next move. Give yourself time to think and pay attention to this red-flag tactic. If something ever feels off, it is smart to slow down and take your time to give an answer.
For even more tips to avoid fraud check out this article: 8 Tips to Keep Your Data Safe from Hackers and Cybercriminals
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