Written by North Carolina Treasurer Brad Briner
My late father walked into a Home Depot several years ago intending to buy $500 worth of gift cards. Fortunately, the cashier asked him why he needed so many gift cards?
I never learned exactly what story he had been told, but it was likely some version of an impersonation scam: someone claiming to represent a government agency, a business or perhaps a family member in trouble. The message would have been urgent, the consequences frightening and the solution strangely specific: buy gift cards immediately and provide the numbers on the back.
The cashier recognized the warning signs and persuaded my father to call one of my brothers before completing the purchase. That conversation exposed the fraud, and my father left the store with his $500 — and, I hope, learned an important lesson on modern days scams.
I remain grateful to that attentive cashier. She did more than provide good customer service that day. She protected my father.
My dad was intelligent, responsible and generous. Those qualities did not make him immune to fraud. In fact, scammers often exploit our best instincts: the desire to help someone we love, fulfill an obligation, protect our savings or quickly correct a mistake.
It’s October – all of us are preparing for Halloween frights and scares. This month, we want to make sure none of them are coming from financial frauds and scams.
My dad’s story is the first lesson about fraud: smart people get scammed.
The second is that scammers manufacture urgency. They do not want you to think. They certainly do not want you to call a family member, your bank or local police department. They want to keep you frightened, isolated and moving quickly.
I have received hundreds of messages over the years from people pretending to be the IRS and warning that agents are on their way to my house to arrest me. Their persistence is impressive. Their understanding of how the IRS collects taxes is less so.
Those messages are easy to laugh at when the language is clumsy, or the threat is obviously ridiculous. But fraud is becoming much more sophisticated. Artificial intelligence can produce convincing emails, realistic photographs and even voices that sound like someone you know. The awkward scam message filled with misspellings may soon become a very polished message that appears to come from your bank, your boss or your own child.
The details change, but most scams include at least one of these warning signs:
Urgency: “You must act immediately.” Secrecy: “Do not tell anyone about this.” Fear: “Your account has been compromised,” or “A family member is in trouble.” An unusual payment method: Gift cards, cryptocurrency, wire transfers or cash. An unexpected windfall: You have won a prize, inherited money or found a guaranteed investment — after paying a fee, of course.The Federal Trade Commission says imposter scams are now the most commonly reported type of fraud. Technology will make impersonation easier, which means we should place less trust in communications that arrive unexpectedly — even when they look or sound authentic.
The safest verification is either in person or outbound. Speak face-to-face with the person involved or end the incoming communication and initiate a new one yourself. Call your relative using the number already stored in your phone. Contact your bank using the number on the back of your card. Reach a government agency through the telephone number published on its official website.
Do not call the number provided by the person who contacted you. Do not click the link in the message. And do not assume caller ID proves anything.
Remember one particularly useful rule: gift cards are for gifts, not payments. No legitimate government agency, bank or police department will demand that you settle a debt or protect your money with gift cards. The IRS has many ways to collect money. Asking for the numbers from the back of a gift card is not one of them.
Brad Briner was elected North Carolina Treasurer in 2024 after working as the co-chief investment officer for Willett Advisors and has held positions at Morgan Creek Capital, the UNC Management Company, ArcLight Capital and Goldman Sachs. He started writing “Bottom Line with Brad” as a way to educate North Carolinians on complicated financial matters in the Department of State Treasurer’s monthly “Finance Fridays” newsletter. The column is published in partnership with Chapelboro and is not a sponsored series.
Chapelboro.com does not charge subscription fees, and you can directly support our efforts in local journalism here. Want more of what you see on Chapelboro? Let us bring free local news and community information to you by signing up for our newsletter.
Bottom Line with Brad: Frauds and Scams Chapelboro.com.
Hence then, the article about bottom line with brad frauds and scams was published today ( ) and is available on chapelboro ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Bottom Line with Brad: Frauds and Scams )
Also on site :
- APOD: 2026 October 12 – Jupiter and the Moons
- Jon Bon Jovi funded a Red Bank restaurant in 2011 where diners pay what they can or volunteer to eat; JBJ Soul Kitchen has since served more than 275,000 meals
- Prime Video Swoops For Princess Diana Series With Unheard Audio: Streamer Will Launch As ‘Diana: Her Secret Confessions’