5 Phone Scams That Target People Just Like You

Scammers have become increasingly sophisticated with the rise of e-commerce and online banking, but many still prey on victims using old-fashioned phone scams. In fact, among those who fell victim to financial fraud, phone scams ranked first among 14 different scam categories in a GOBankingRates study of more than 1,100 U.S. adults.

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Almost 49% of financial fraud victims said they had been the victim of a phone scam. This percentage far outweighed the second type of fraud, which involves money transfers or mobile payment services (mentioned by about 20% of respondents).

Here’s how many GBR respondents have fallen victim to financial fraud, by age group:

Phone scams come in many forms, from robocalls to text messages, but they usually contain similar threats and promises, according to the Federal Trade Commission. Here are some common phone scams that target people like you.

Business and investment fraud

This is a common scam in which the caller promises to help you start your own business or guarantees big returns on your investment. You’ll be asked to provide funds—and if you fall for it, you’ll likely never see them again.

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Impersonation scams

In this scam, callers pretend to be someone you can trust, such as a government agency, law enforcement officer, court official, family member, or a company you know. They typically ask for financial or personal information to resolve some bogus problem.

Debt Relief and Credit Repair

In this scam, you’ll be offered a lower interest rate on your credit card, an improvement in your credit score, or a loan forgiveness if you pay a fee. If you fall victim to this scam, you risk losing your money and ruining your credit.

Charity fraud

Here’s another popular scam where callers pretend to be from a legitimate charity and ask for donations. Before you donate money, take a moment to research the charity yourself, then donate through its official channels.

Prize scams

In a typical prize scam, the caller will tell you that you’ve won a prize, but you’ll have to pay taxes, registration fees, or shipping to receive it. If you get one of these calls, you can be sure it’s a scam.

The best way to deal with these types of scams is to simply hang up and block the number. One thing you shouldn’t do is trust the caller ID — chances are the scammer has found a way to make it look like you’re getting a call from an official agency or legitimate business.

If you lost money to a phone scam or have information about a company or scam that called you, report it to the FTC by visiting ReportFraud.ftc.gov. If you didn’t lose money and just want to report the call, use the reporting form at DoNotCall.gov.

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This article originally appeared on GOBankingRates.com: 5 Phone Scams That Target People Like You