Give Generously, but with Caution

Remember when COVID was new to the scene, and I told you about scammers using it as a way to con victims? Fraudsters will latch onto national or global disasters and use them to take advantage of your empathy and generosity. For instance, the recent events in Ukraine have led to a slew of relief efforts being organized to help citizens in need. Do you know what else is being organized? Scams.

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Scammers will falsify their identity and request your help in providing relief or aid to Ukrainians impacted by the war. They will ask for donations to deliver food, medical care, or other necessities quickly. The requests will sound valid, and the scammer hopes to not raise suspicions because of how much attention the “cause” is getting. So, how can you give generously but know that the money is going where it should?

·         Before you act, thoroughly research the charity to determine its validity. The FTC has some wonderful tips to follow before you donate.

·         If you receive a phone call asking for donations, hang up. You may choose to donate on your own, but never give out payment information over the phone – or by text!

·         Beware. Scammers can easily create a fake website. Look for the lock and “https” in the address bar. This will indicate that the site is secure.

·         Never donate to any fundraiser if you don’t feel comfortable. Scammers use guilt and manipulation to gain sympathy. Don’t make hasty decisions when you want to give to a charity.

·         Don’t fall for scams asking you to donate by wire or gift cards. Using a credit card is a more secure method for donations. If possible, refrain from using your primary debit/checking account for donations. If there is fraud, you do not want your main source of cash to be depleted or tied up in fraud investigations.

·         If you are thinking about donating using cryptocurrency, be extra diligent. Legitimate fundraising can be done using crypto, but real donation sites will always offer other methods for payment. If you do not see alternate payment options, it’s best to keep looking for a different fundraising opportunity.

Do you have any other tips to add to this list? I want to hear from you! Leave a comment below or email me.

Krista Kyte is a personal finance blogger and personal banker with over 18 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that help consumers reach and maintain financial security and start living the life they’ve always wanted.