Senior Fraud Specialist, Doris Roof, warns about Tax Refund Scams, which are one of the most costly scams--with 5.7 billion in losses. Fraudsters sometimes manage to steal their victim's refunds or they contact people with aggressive tax collection tactics--convincing people that they need to pay their taxes immediately.

Here's How to Spot Tax Scams:

- Fraudsters pretend to be IRS agents and contact victims via the phone, email, text, of postal mail. IIt's true that the IRS will contact people by mail but even if you receive something that looks like it's from the IRS, reach out to them directly to be sure it's a REAL notice, and not from a scammer.
- Watch out for aggressive tax collection attempts demanding payment through pre-paid debit cards, wire transfers, or Bitcoin.
- Beward of emails or texts asking you to verify your personal information. It may contain a link to a fraudulent form or website. It may say they need you to update your personal information such as your address, phone number, or social security number. Sometimes the correspondence contains a link and if you click on it, malicious malware can be installed on your computer.

Vicki also warned listeners about professionals who snatch billfolds amd wallets from purses left in shopping carts. She also shared news that the FTC is suing Walmart for turning a blind eye to scammers, allowing payouts of suspicious transfers.

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