These are the companies scammers impersonate the most

A new report from the Federal Trade Commission (FTC) reveals the 10 companies most often mentioned in scam reports filed last year.

The FTC explained how scammers are currently acting as “well-known businesses to gain trust” from unsuspecting victims and are also using “real-world methods to contact people and to get paid”.

The 10 companies scammers impersonate the most

1. Geek Squad from Best Buy.
2. Amazon.
3. Paypal.
4. Microsoft.
5. Publishers Clearing House.
6. Lifelock from Norton.
7. Apple.
8. Xfinity from Comcast.
9. Bank of America.
10. Wells Fargo.

The FTC explains that depending on the company being impersonated, a scam can come in many forms.

Some scams start with a pop-up warning, while others start with an email.

“Last year, people told us that scammers were most often reaching out by email and phone calls. But people also told us that they lost the most money on scams that started on social media,” the FTC reported.

Authentic payment methods, but fake companies

The report said that scammers tend to use authentic payment methods to get money. They may ask you to send a bank transfer, send them money on Zelle or send them the codes to newly purchased gift cards.

In 2023, gift cards were the most common method scammers got money from their victims, per FTC.

The top five gift cards used by scammers included gift cards from Apple, Target, eBay, Walmart and Amazon.

How to protect yourself from these scammers

The FTC has three suggestions for avoiding fake company scammers:

1. Stop and check with someone else about the scam. A scammer will rush you to buy something or send them money.
2. Don’t click on links you don’t recognize or trust in the Caller ID during phone calls. Check the company’s official website for their phone number and follow up with them to see if it’s actually them trying to contact you or not.
3. Don’t pay money to someone who says there’s only one way to send them money (especially if they mention one of the above-mentioned payment methods).

NPR has also reported in the past on the steps you can take to protect your bank account and the money you may have in different payment apps:

1. Constantly check your bank account for fraudulent purchases.
2. Every four months, check your credit report for new charges or accounts made.
3. Freeze your credit at your bank.
4. Use your credit card as much as possible instead of a debit card.
5. If you find a fraudulent charge on your bank account, call the number on the back of your card or on your statement, not the local one found on the internet.
6. Sign out of Venmo (and any other payment apps) once you’re done using it.
7. Change your phone settings to decline calls from unknown numbers and send them straight to voicemail.
8. Be careful to not post personal information online, especially on social media, as scammers can figure it out quickly and use it for their own benefit.