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5 Ways Scammers Are Outsmarting Even the Savviest Investors (and How to Stay Ahead)
- Ascend Advisory Group
- Sep 29
- 2 min read
Updated: Oct 1
By Jackie McNeely, Director of Compliance and Supervision
At a glance:
AI is making scams more believable than ever before.
Caller ID spoofing means the number on your phone can’t be trusted.
Urgency is a common red flag—slowing down is your best defense.
Locking your credit can add an extra layer of protection.
A Call That Sounded Real
It was mid-morning when one of our clients picked up a call from what looked like Wells Fargo. The caller ID matched perfectly. The automated voice even greeted them with:
“We recognize your phone number. Please enter your account number to verify your identity.”
Everything about it felt legitimate—except it wasn’t. It was a scam, powered by AI voice synthesis and caller ID spoofing, designed to capture sensitive information in seconds.
That single call is a reminder: scams today don’t always look like scams.
1. Smarter, Sneakier, More Convincing
Scammers no longer rely on poorly worded emails. They use artificial intelligence to craft messages, clone voices, and build credibility. What once was obvious now feels dangerously authentic.
2. Caller ID Can’t Be Trusted
The phone number on your screen is no longer proof of who’s on the line. Spoofing technology makes it easy to impersonate banks, advisors—even friends or family members.
3. Red Flags That Can Save You Time (and Money)
Here are some ways to protect yourself when something feels “off”:
Pause before acting: urgency is the scammer’s best friend.
Don’t give information unless you initiated the call.
Verify first: call your bank or advisor directly using the number you know.
Lean on your Ascend financial advisor—we’ll confirm, investigate, and step in if needed.
4. Lock Your Credit for Extra Protection
Even if scammers get hold of your personal details, you can stop them from opening new accounts by locking your credit.
Credit Bureau | Lock/Freeze Option | Access Link |
Equifax | Lock & Alert (Free) | |
Experian | CreditLock (Paid) | |
TransUnion | TrueIdentity (Free) |
5. Why This Matters to You
The truth is, even the savviest investors are vulnerable. A scammer doesn’t need to trick you often—just once.
That’s why we take education and vigilance seriously at Ascend Advisory. If you ever receive a suspicious call, text, or email, call us first. We’ll walk you through next steps and help make sure your financial security stays intact.
Scams are evolving. So are we. And as always—Ascend Advisory is in your corner.
