NEW YORK – The Federal Trade Commission Chair, Lina Khan, issued a warning to the public after a financial advice columnist for New York Magazine revealed that she had been scammed out of $50,000 by a man posing as an agency investigator.
Khan’s warning came in response to the troubling tale of Charlotte Cowles, the financial advice columnist, who fell victim to a voice phishing (vishing) scam. The scam involved a man claiming to be an investigator with the FTC who convinced Cowles to hand over $50,000 in cash.
In a first-person account published on The Cut, Cowles detailed how the scammer posed as an FTC investigator, providing a badge number and personal information about her, such as her Social Security number, address, and bank account details. The scammer even falsely accused her of criminal activity, leading Cowles to withdraw the money and hand it over to a courier.
Khan emphasized that Americans lost $2.7 billion to vishing scams in the previous year. She also pointed out that scammers often impersonate government agents over the phone, making it crucial for the public to be aware of the tactics used by these fraudsters.
The FTC Chair’s warning serves as a reminder that government officials will never request personal information, ask for money, or send unsolicited messages. The post also included a link to an FTC proposal aimed at penalizing individuals who impersonate government or business officials.
It is essential for individuals to remain vigilant and be cautious of any requests for personal or financial information over the phone. As technology advances, scammers are finding new ways to deceive and defraud people. Therefore, staying informed about the latest scams and remaining skeptical of unsolicited requests can help individuals protect themselves from falling victim to such fraudulent schemes.