The Perfect Scam

It's tax time, and that means it's also tax scam season. The Federal Trade Commission warns about a recent surge in fake IRS calls to taxpayers. Personal finance columnist Michelle Singletary joins host Bob Sullivan to discuss how AI might be supercharging these age-old scams, how recent changes in the way the federal government issues refunds could create new opportunities for scammers, and some practical tips for protecting yourself against these and other scams.

When Anola returns home from a picture-perfect trip to France, she finds an unexpected flirtation with a man who reaches out to her on LinkedIn. He showers her with love and attention, and over time, he steals thousands from her.  When she discovers the deception, Anola reaches out to the real man behind the photo the scammer used, drawing her into a second betrayal. Criminals have figured out how to hack our brains, bypassing the rational and going directly for the emotional response. Austin Cusak, an expert in behavioral science at the FDIC, joins host Bob Sullivan to discuss the phenomenon known as "amygdala hijacking."

Richy and Terri send a check to their son and daughter-in-law for their anniversary, but it never arrives. After a tough year of medical issues and the death of a close friend, they open a bank statement to see that their account is $10,000 short. They learn that a criminal has stolen their check from the mail, "washed" it, and fraudulently cashed it for big bucks. This sends the couple on a monthslong quest to try to get their money back.

When Brian receives an email from "PayPal," he thinks it must be the refund he's been waiting for, but he is instead drawn into a scam that has him running all over town feeding money into crypto kiosks and exchanging cash for gold coins to hand off to a courier. Brian soon grows suspicious, but he resists the urge to confront the criminals and goes directly to the police. Brian helps detectives set up a sting operation to ensnare the courier and expose a crime ring.

Patricia is enjoying a quiet night babysitting when she discovers that her phone has no service. When she switches to Wi-Fi, a sudden barrage of notifications shows that someone is moving money out of her accounts. This sets Patricia off on a race against time to save her assets from criminals who are even cashing out her stocks. Bob talks with Rachel Tobac, CEO of SocialProof Security, about practical steps we can all take to protect ourselves from SIM swapping scams.