Watch Out for These 4 Political Scams That Target Your Money
Written by
J. Arky
Edited by
Gary Dudak
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All eyes are currently focused on the presidential election, as well as numerous other local elections across the country. While you might be looking at certain politicians and policies to understand who and what to vote for, some criminals are setting their sights on ways to drain your bank accounts.
That’s because during election time, scammers have ample opportunities for fraud, theft and other scams that can rob you of your money. GOBankingRates put the call out to personal financial advisors to ask about the top methods thieves use during elections and ways to avoid falling for them. Watch out for these four political scams that target your money.
Voter Registration Scams
Scammers impersonate political and government entities and send spurious links to fake registration forms through email, phone or text messages, according to Bill Ryze, ChFC from Tennessee and a board advisor at Fiona.
Ryze said, “You can expect political parties to be at your door seeking votes. At the same time, you must be vigilant and watch for election-related scams that happen around politics.”
He continued, “People who have not yet registered their names as voters could easily fall prey to these phishing scams and unintentionally part with their credentials. Malicious actors wait for such opportunities to glean passwords and Social Security numbers. These scams also offer them unauthorized access to your devices, which can prove disastrous.
“Please note that you can register your names online, by mail, or in person at a local election office. So, if someone phones you and seeks voter registration by phone, you should not respond to them. I advise you to avoid unsolicited links. Check the website address for HTTPS to ensure its genuineness. Typing the website address on the search bar is always better than clicking on unsolicited links that direct you to phishing websites,” he advised.
Fake Fundraising Calls
Elections need a lot of funding and therefore, “scammers take advantage and pose as political campaign fundraisers to solicit donations for specific causes, such as healthcare reforms or veterans.” Ryze continued, “These charitable causes generally appeal to voters, who fall prey to such scams.”
These can come in the form of robocalls from fake political parties or candidates seeking donations or personal data. While it might seem like an official website, email or call trying to raise money, make sure you do your homework before giving any money or information out.
“Political parties usually never approach people directly,” Ryze described. “Therefore, I advise you to verify the legitimacy of any fundraising call. You can research the organization independently and donate directly through the party’s official website.”
Political Impersonators
“Not everyone would be aware of the candidates fighting elections in their constituencies,” Ryze said. “So, fraudsters pretend to be election candidates, pollsters, or campaign volunteers to manipulate voters and collect money illegally.”
Ryze cautions everyone to be wary of unsolicited calls or messages. “Verify the identity of the person claiming to represent a political figure,” he said. “Do not be afraid to ask questions. Scammers generally avoid confrontations with people. They try to vanish the moment you question their credentials.”
Phony Pollsters
“Elections involve pre- and post-poll surveys to gauge the public mood,” Ryze said. “Scammers take undue advantage and conduct fake political polls to extract personal information.”
As is good practice with anyone you don’t know, he suggested that you do not share any personal information with unknown pollsters.
“Legitimate surveyors never ask for financial or personal information,” added Ryze, pointing out that you can consider it a red flag when someone seeks unnecessary information from your side. “Stay informed and vigilant during election seasons. If something seems suspicious, follow your instincts and verify before acting. Erring on the side of caution is always advisable rather than losing your credentials to scammers.”
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