Fraud and scam Workshop - Tax Season's Hidden Threat, Expert Tips to Avoid Costly Scams

On a recent Saturday afternoon, a small group gathered at Chase Bank to learn more about fraud, scams, and how to protect themselves. While many of us would like to believe it could never happen to us—that we are too smart or too aware—the truth is fraud can happen to anyone, and it occurs more often than we think.

Shannel Heath, host of the Fraud and Scam Workshop and Cincinnati Community Manager at Chase, reminded attendees of this reality.

“It’s not about how smart you are, and it’s not about intelligence,” Heath explained. “It really boils down to how skilled a manipulator they are.”

She shared her own personal experience with fraud, reinforcing the message that no one is immune.

In 2024, U.S. households reported $12.5 billion in losses due to fraud and scams—an increase of 25% from 2023. These numbers confirm that fraud is not only prevalent, but rising. Workshops like this provide communities with the knowledge needed to recognize common tactics and combat them effectively.

Common Scam Tactics to Watch For

Experiencing a scam has little to do with intelligence and more to do with manipulation. Scammers often prey on emotions, urgency, and trust. Below are common tactics used:

Pretend – Scammers try to convince you that you have an existing relationship or connection.

Prize or Problem – They offer rewards or threaten consequences to trigger emotional responses.

Payment Requests – Victims are instructed to send money in specific, often untraceable ways.

Pressure – They insist the matter is urgent and demand immediate action.

Romance – Fake online identities are used to build emotional relationships before asking for money.

Social Media Impersonation – Fake profiles pose as friends, family members, businesses, or trusted representatives.

Someone You “Know” – Scammers impersonate organizations such as the police, IRS, Social Security Administration, Medicare, or your bank.

Hot Deals – Unrealistic prices or limited-time offers pressure victims into quick purchases.

In 2023 alone, 800,418 complaints were filed—an 88% increase over three years—highlighting just how widespread these schemes have become.

How to Protect Yourself

Although fraud is increasing, there are proactive steps you can take:

●     Set up account alerts for suspicious activity

●     Regularly review transactions, usernames, and passwords

●     Use financial checklists during routine money reviews

If You Become a Victim of Fraud

If you suspect fraud:

●     Immediately end communication with the scammer

●     Contact your bank. Chase customers can visit a branch or call 1-800-935-9935 (or contact your financial institution directly)

●     File a report with your local police department

Protecting Yourself During Tax Season

With tax season underway, fraud risks increase significantly. Guest speaker Shaquille Riston, CEO and Founder of Riston Financial Service Group, shared expert insights on tax-related scams.

With over 10 years of experience in accounting and personal and business finance, Riston discussed how individuals are especially vulnerable during tax season and how to safeguard themselves.

She emphasized the importance of understanding:

●     Filing status and dependents

●     1099-K forms and side-hustle income

●     Refund delays and common causes

To prevent tax-related identity theft, Riston recommended:

●     Filing early to beat scammers

●     Protecting Social Security numbers

●     Enrolling in the IRS IP PIN program

●     Safeguarding children’s Social Security numbers

Final Takeaway

As the event concluded, attendees were able to ask follow-up questions and address personal concerns. The overarching message remained clear: becoming a victim of fraud has nothing to do with intelligence. It is a widespread issue impacting thousands of Americans every year.

There will always be individuals looking for opportunities to exploit others. However, staying vigilant, monitoring your financial accounts, and recognizing common scam tactics can significantly reduce your risk—especially during tax season.