At Gregory Ricks & Associates, protecting your wealth is about more than managing investments—it’s also about staying informed and prepared for the risks that can arise outside of the market. Financial scams have become increasingly convincing, using emotion, urgency, and technology to create confusion in everyday situations.
Whether it’s a call from someone posing as the IRS or a message claiming you’ve won a prize, knowing what to look for can help you respond with clarity and confidence. Here are key steps to help reduce your exposure and protect what you’ve worked so hard to build.
Know What to Watch For
Scams often follow predictable patterns. According to the FTC, here are the most common red flags to watch for:
- Unexpected contact — A phone call, email, or message that comes out of the blue
- Urgent demands — You’re pressured to “act now” or risk consequences
- Unusual payment methods — Requests for gift cards, wire transfers, or cryptocurrency
- Unverifiable claims — Promises of prizes, inheritance, or exclusive investment opportunities
- Requests for secrecy — They may tell you not to speak with anyone else about it
These are not just oddities—they’re key indicators that you may be dealing with a scam.
Pause Before Taking Action
Scams rely on urgency—making you feel like you have to act now. But you’re never required to make financial decisions immediately.
The CFPB points out that scammers often use emotional manipulation to push people into quick decisions. They may:
- Impersonate a loved one in distress
- Pose as government or law enforcement
- Threaten you with arrest, account suspension, or fines
If you receive this kind of pressure, don’t respond right away. Stop, think it through, and verify the information independently using official channels. And remember—if it sounds too good to be true, it probably is.
- If someone contacts you unexpectedly, take a breath. Get their information, hang up, and do your own research.
- Contact the organization directly using a trusted number or website.
- Talk it through with someone you trust—whether that’s a family member or your financial advisor.
Know What Types of Scams Are Out There
The FBI maintains a list of the most common scams they investigate. These include:
- Investment fraud – Pitches promising guaranteed, high returns
- Tech support scams – Fake pop-ups or calls asking for remote access to your computer
- Romance scams – Online relationships that eventually lead to financial requests
- Charity or disaster relief fraud – Requests for donations after natural disasters or global crises
Being familiar with these tactics can help you spot a scam before it escalates.
Secure Your Information
Strong defenses begin with good habits. To reduce your risk:
- Use multi-factor authentication on accounts
- Create unique, strong passwords and update them regularly
- Shred sensitive financial documents
- Avoid clicking links in unexpected texts or emails—even if they look official
Regularly Review Your Accounts
Keep an eye on your bank, credit card, and investment accounts. Monitoring activity regularly makes it easier to catch unauthorized transactions early. If you see something unusual, contact the institution immediately.
We also recommend updating your estate planning documents and having financial and medical powers of attorney in place. In times of health challenges or emergencies, these tools help ensure someone you trust is legally authorized to help.
You Don’t Have to Handle It Alone
One of the best safeguards is having a trusted team who knows your situation. At Gregory Ricks & Associates, we’re here to provide a second opinion, review suspicious communications, or simply help you decide what to do next if something doesn’t feel right.
One of the most telling red flags of a scam is when the person contacting you insists that you keep the conversation a secret. Scammers will often say things like “don’t tell anyone else about this” or “you’ll ruin the opportunity if you share it,” because they know outside perspectives—especially from trusted family members or advisors—can quickly expose their scheme. This tactic is designed to isolate you, create urgency, and prevent you from getting the support or second opinion that could stop the fraud in its tracks. Sometimes, they’ll pair that secrecy with threats of legal trouble, saying things like you’ll be arrested, fined, or sued if you don’t comply immediately. If someone pressures you to stay silent, that’s a strong sign it’s time to pause and consult someone you trust.
Let’s Work Together to Stay Secure
We like to avoid using phrases like “falling for” a scam because they imply fault or shame on the part of the victim—and that’s simply not fair or accurate. Being targeted by a scam isn’t a reflection of someone’s intelligence or caution; it’s the result of deliberate, manipulative tactics designed to exploit trust, urgency, or fear. With the rise of artificial intelligence, scammers can now mimic voices, replicate real companies, and craft messages that appear completely legitimate. The truth is, anyone can become a target. Instead of focusing on blame, we focus on awareness, protection, and making sure you’re never navigating these situations alone. Financial confidence means working to protect both your future and your present. If you’re ever unsure about an opportunity, message, or request, reach out to our team. We’re here to help.
(504) 832-9200
info@gregoryricks.com
You’ve built a strong foundation—let’s keep it that way.
SOURCES:
Federal Trade Commission. (2024, March 7). Sure ways to spot a scammer.
Consumer Financial Protection Bureau. What are some classic warning signs of possible fraud and scams?
Federal Bureau of Investigation. Common frauds and scams.
Forbes Technology Council. (2025, March 10). AI-driven phishing and deep fakes: The future of digital fraud. Forbes.
DISCLOSURE:
This article is meant to be general and is not investment or financial advice or a recommendation of any kind. Please consult your financial advisor before making financial decisions. For more detailed information, contact, a financial advisor with Gregory Ricks & Associates, Inc. offering investment advisory products and services through AE Wealth Management, LLC. (AEWM) Insurance products are offered through the insurance business Gregory Ricks & Associates, Inc. AEWM does not offer insurance products. The insurance products offered by Gregory Ricks & Associates, Inc. are not subject to Investment Adviser requirements. Firm does not offer tax or legal advice. 3121853 – 6/25