From fake websites, to artificial intelligence, scammers are using a variety of tools and new technology to swindle innocent people out of their money. These news methods, combined with old tricks-of-the trade, make stopping these scams even more difficult according to the Minnesota Department of Commerce.
This is an industry, unfortunately, that is expanding greatly,” said Marty Fleischhacker, Senior Financial Fraud Ombudsman at Minnesota Department of Commerce. “You talk to anybody in law enforcement, or you talk to financial institutions like I do everyday and they'll tell you that this isn't going away anytime soon. The scammers are getting more sophisticated and they're getting a lot better at what they do. It's getting a lot harder for us on the good side to stop the scams and the flow of money to scammers.”
With tax season underway, scams are top of mind with the amount of information being accessed daily by individuals eager to get their taxes filed accurately and on time.
Fleischhacker says it's best to get your taxes filed early, before someone files them for you.
“Because of all these phishing scams and the hacks that happen to some of the largest companies in America, the information is out there and available,” he said.
Scammers continue to target Minnesota seniors age 65 and older, along with vulnerable adults at most risk for financial fraud.
Scams including phone scams such as winning the lottery or sweepstakes, or internet romance scams and fraudulent-looking websites made to look like official government or shopping sites.
"We do have some scammers local in the state of Minnesota and we're working with financial institutions in Minnesota that have seen suspicious deposits in clients' accounts," Fleischhacker said. "We've worked with federal agencies to try and get those funds back to the folks who were scammed. You have these people around the country that will help with the movement of money knowingly and unknowingly.
Both the Minnesota Attorney General's Office and the Minnesota Department of Commerce have resources available to help prevent seniors from falling victim to scams.
The biggest piece of advice when it comes to scams is to seek help if you suspect you're being targeted.
"Scammers, what they do, is try to get the person focused on their emotional side of their brain and not the rational side," added Fleischhacker. "If something strange occurs, someone calls or emails you, call someone whether it's law enforcement of the department of commerce. We know the patterns and the questions to ask. It's hard to stop because the scammers will tell the victim not to contact anyone. It's important to contact someone before you act. Slow down and talk to somebody."