QUESTION: “I got a strange text last week asking me to apply for a job that looked legit, and now I’m paranoid about scams. What kinds of scams are most common right now, and how do I stay safe in 2026?”
ANSWER: Picture this: your college-age granddaughter calls you, distraught and scared, begging you to wire money because she’s “stranded abroad.” You didn’t even realize she was traveling. In the panic, you send the funds — and only later discover she’s perfectly fine. Sadly, this kind of scam is far too common. In 2024, consumers in the U.S. reported losing more than $12.5 billion to fraud — a 25% increase over 2023.
Scams today are more sophisticated than ever, designed to steal your money — sometimes in a single transaction, sometimes slowly over time. Here are some of the most common frauds to watch out for, based on the latest data, plus practical ways to protect yourself and your money in 2026.
Fraudsters pretend to be someone you trust — a bank, government agency, a family member, or even a well-known company. Imposter scams are accounted for a whopping $2.95 billion in losses in 2024.
These scammers succeed by creating panic or urgency (claiming there’s suspicious activity, a legal threat, or a relative in trouble) to pressure you into wiring funds or giving sensitive info.
Our elderly friends and loved ones are particularly at risk for these scams — the number of people 60 and older who have reported losses of $10,000 or more to impersonation scams rose more than fourfold since 2020, and combined losses for reports over $100,000 increased eight-fold.
With these scams, scammers build trust and emotional connection — often online or via text — then they invent an emergency or an urgent need. It might be medical bills, travel costs, or a sudden financial catastrophe like a car accident or the passing of a relative. Once you send money, the contact often disappears. According to the most recent data from the Federal Trade Commission, these scams cost unsuspecting people more than $1 billion every year.
Fraudsters posing as tax agents or government officials claim you owe back taxes, need to pay a fine, or that you “must take immediate action” or risk arrest or other dire consequences if you don’t comply. They may tell you that you need to send gift cards, take cash out of your credit union and deposit it elsewhere, or give them access to your bank account.
How many times have you gotten a text or Whatsapp message encouraging you to apply for a job that may sound incredibly lucrative, even too good to be true? If you follow up with these scammers, they’re going to want your Social Security number and credit union account details ASAP so they can “make sure you get paid.” Unfortunately, the only thing that’s actually going to happen is that your identity and your money get stolen.
Scams promising quick, huge returns in the stock market — often involving crypto, dubious investments, or high-yield “opportunities” — are now some of the most lucrative scams in the world. In 2024, investment scams alone accounted for $5.7 billion in reported fraud losses.
Drumroll please… Knowing the most popular scams is one thing, but successfully avoiding them is entirely another! Here’s how to stay safe out there: