Cybercrime Is Rising: How To Protect Yourself From Today’s Most Common Scams

Cybercrime is no longer just a technology problem—it’s a growing financial threat impacting individuals, families, and businesses every day.

Cybercrime by the Numbers

• In 2025, Americans filed more than 1 million internet crime complaints, with reported losses exceeding $20 billion, according to the FBI’s Internet Crime Complaint Center (IC3). [fbi.gov]
• The Federal Trade Commission reported that consumers lost approximately $16 billion to fraud in 2025, the highest amount ever recorded and about 25% higher than 2024. [ftc.gov]
• Consumers reported losing $3.5 billion to imposter scams in 2025, making them the most reported fraud category nationwide. [ftc.gov]
• Verizon’s 2026 Data Breach Investigations Report analyzed more than 31,000 real-world security incidents and over 22,000 confirmed data breaches across organizations in 145 countries. [verizon.com], [verizon.com]
• Cybercriminals are increasingly using artificial intelligence, voice cloning, mobile-focused attacks, and sophisticated impersonation tactics to trick consumers into handing over sensitive information. [verizon.com]

As Technology Evolves, So Do Scammers

As technology advances and mobile devices become an even bigger part of our daily lives, cybercriminals continue finding new ways to exploit unsuspecting consumers.

From spoofed phone calls and fraudulent text messages to fake websites and convincing emails, scams have become increasingly sophisticated. In many cases, criminals don’t need to hack into your accounts—they simply need to convince you to hand over your information voluntarily.

The good news? Understanding how scammers operate and recognizing the warning signs can dramatically reduce your risk.

The reality is that many successful scams happen because criminals manipulate people into acting quickly, trusting a familiar name, or sharing sensitive information without verifying a request first. According to Verizon’s Data Breach Investigations Report, the human element continues to play a major role in cyber incidents, demonstrating that awareness remains one of the strongest cybersecurity tools available. [verizon.com]

How Scammers Operate

Not every technological advancement has strengthened cybersecurity. In fact, some have made it easier for criminals to deceive consumers.

One example is caller ID spoofing, a tactic that allows scammers to manipulate the phone number displayed on your caller ID. Criminals frequently impersonate banks, government agencies, utility companies, retailers, and other trusted organizations to make their calls appear legitimate.

Imagine your phone rings, and the caller ID displays the name and phone number of your credit card issuer.

When you answer, the caller claims your account has been frozen due to a missed payment and insists that you verify your personal and financial information immediately to avoid penalties.

Fortunately, you decide to verify the claim independently by calling the customer service number listed on the back of your card. The representative confirms that your account is in good standing and that no one from the company attempted to contact you.

Though the incoming call appeared to come from your credit card company, it was actually a criminal attempting to obtain your sensitive information.

Had you provided details like your Social Security number, birth date, account credentials, or card numbers, the scammer could have used that information to:

• Steal your identity
• Open fraudulent accounts in your name
• Gain access to existing financial accounts
• Make unauthorized purchases
• Trick you into sending money via wire transfers, gift cards, or payment apps

Modern scams often look remarkably convincing. Scammers can imitate legitimate websites, company logos, email addresses, phone numbers, and social media profiles so closely that many people don’t recognize the warning signs until it’s too late.

Imposter Scams Are on the Rise

Criminals frequently pose as trusted organizations, government agencies, technology companies, financial institutions, retailers, and even family members. Their goal is simple: gain your trust long enough to obtain money, personal information, or account access.

According to the FTC:

• Consumers reported losing $3.5 billion to imposter scams in 2025. [ftc.gov]
• Imposter scams were the most commonly reported fraud category nationwide. [ftc.gov]
• Nearly one in three fraud reports involved an imposter scam. [ftc.gov]
• Consumers reported nearly $1 billion in losses to business impersonators, with the largest losses involving criminals pretending to be banks and financial institutions. [ftc.gov]
• Consumers also reported approximately $920 million in losses to government impersonators. [ftc.gov]

Some of the most costly impersonation scams begin with a fake security alert claiming to be from a bank or financial institution. Victims are often convinced to “protect” their money by transferring it to another account—one controlled by the scammer. Whether someone claims to represent a bank, government agency, utility company, retailer, or law enforcement office, always verify the legitimacy of the request independently before taking action.

Why Your Information Matters to Scammers

Many consumers assume fraudsters only want direct access to bank accounts. In reality, your personal information is incredibly valuable.

A scammer who obtains your:

• Full name
• Home address
• Social Security number
• Date of birth
• Online banking credentials
• One-time security codes

may be able to impersonate you, open new accounts, take over existing accounts, apply for loans, or sell your information to other cybercriminals. What might seem like harmless information on its own can become powerful when combined with data gathered from social media, public records, and previous data breaches.

Tactics to Watch

While no cybersecurity defense is 100% foolproof, staying informed about common scam tactics can significantly reduce your risk. Cybercriminals may use different methods, but most scams rely on the same psychological triggers:

Creating Urgency

Scammers want you to act before you have time to think. They may tell you your account has been compromised, a payment is overdue, or you’ll face penalties if you don’t act immediately.

Building Trust

Fraudsters often use recognizable company names, logos, phone numbers, and websites to create a sense of legitimacy.

Leveraging Fear

Threats involving frozen accounts, legal action, stolen identities, or financial losses are commonly used to manipulate victims.

Requesting Sensitive Information

Scammers frequently claim they need your personal information to “verify your identity” or “resolve an issue.”

Offering Opportunities

Some criminals tempt victims with fake prizes, investment opportunities, remote jobs, or guaranteed financial returns.

Phishing, spoofing, and impersonation scams remain some of the most effective tactics used by cybercriminals because they exploit trust and human behavior rather than technology.

Remember:

Virtually no legitimate organization will contact you unexpectedly and demand sensitive information. If someone contacts you and requests passwords, security codes, account numbers, or personal identifying information, pause and independently verify the request.

Protect Your Accounts and Devices

Many successful cyberattacks don’t happen because technology fails—they happen because criminals exploit human behavior.

Following cybersecurity best practices can help safeguard your finances, identity, and personal information.

• Install and regularly update your computer, phone, and other devices.
• Use reputable antivirus, anti-malware, and firewall software.
• Keep multiple backup copies of important files.
• Enable multifactor authentication (MFA).
• Use a virtual private network (VPN) when appropriate.
• Avoid conducting financial transactions on public Wi-Fi networks.
• Verify website security before entering sensitive information.
• Create strong, unique passwords for every account.
• Monitor your credit reports and financial accounts regularly.
• Consider freezing your credit if fraud is suspected.

Why MFA Matters

One of the most effective protections available today is multifactor authentication. Microsoft reports that MFA can block more than 99.2% of account compromise attacks, even when a criminal has obtained a password. A few minutes spent implementing these safeguards can save you from significant financial and emotional stress later.

Don’t Fall for Common Scams

Cybercriminals often use false threats or unrealistic promises to lure victims into taking action.

Protect yourself by following these simple guidelines:

• Avoid clicking unsolicited links in emails, texts, or social media messages.
• Never open unexpected file attachments.
• Never send money to someone you don’t know.
• Verify suspicious communications directly with the organization being represented.
• Be cautious about the information you share publicly on social media.
• Don’t trust caller ID alone.
• Avoid providing personal or financial information via phone, email, or text.
• Never share one-time passcodes or security verification codes.
• Never approve a multifactor authentication request that you didn’t initiate yourself.

Be Careful What You Share Online

Social media can be a goldmine of information for scammers. Criminals use publicly available details about your family, workplace, interests, and recent activities to make scams appear more convincing.

The FTC reports that scammers increasingly reach consumers through social media, text messages, email, phone calls, and online advertisements, often using information gathered from public online profiles to personalize their attacks. [ftc.gov]

Financial institutions rarely ask members to provide sensitive information unexpectedly. However, they may contact you to verify your identity if suspicious activity is detected. In these situations, it’s always wise to independently confirm the legitimacy of the communication before sharing any information.

What to Do If You’ve Been Scammed

Fraud losses continue to rise across the country. In 2025 alone, consumers reported approximately $16 billion in fraud losses, the highest amount ever recorded. [ftc.gov]

If you believe you’ve fallen victim to fraud:

• Contact your financial institution immediately.
• Notify your credit card provider.
• Change affected passwords and security credentials.
• Place fraud alerts on your credit reports if necessary.
• Report the incident to local law enforcement.
• File a complaint with the Federal Trade Commission (FTC).
• Submit a report through the FBI’s Internet Crime Complaint Center (IC3).

Quick action can help minimize losses and reduce the likelihood of further damage.

Stay Safe Online

Cybercrime is no longer a niche threat affecting only large organizations. In 2025, Americans reported more than 1 million internet crime complaints and losses exceeding $20 billion, while consumer fraud losses reached approximately $16 billion nationwide. [fbi.gov], [ftc.gov]

The good news is that many scams can be prevented through awareness, skepticism, and simple cybersecurity habits. By recognizing the warning signs, enabling multifactor authentication, safeguarding personal information, and verifying unexpected communications, you can dramatically reduce your risk of becoming a victim.

The next time you receive a suspicious call, text, email, or social media message, remember to slow down, verify the source, and think before you act. A few extra minutes of caution could save you thousands of dollars and countless hours recovering from fraud.

For more cybersecurity tips and financial education resources, explore our online learning center or connect with a Charter Oak expert today.