If You Think You’re Too Smart to Get Scammed, Read This

Think you’re too smart to get scammed? So did I—until it almost happened to me.

Key Takeaways

• Never wire money or send cash—no legitimate agency will ask you to.

• Always verify the source with a phone or video call before taking action.

• Scams work by creating urgency and isolation—pause and loop someone in.

I almost got scammed once. I was probably 22 years old, and it was about 8 o'clock at night, the day before I was set to leave for New Orleans for my first real adult professional business trip. My “bank” called to say my credit card was blocked and I needed to unblock it. I freaked out because I needed to have that credit card to pay for the hotel. I quickly gave them everything they asked for, including my pin. Luckily, the moment I hung up, I realized what had happened. It felt like a fever dream. I immediately called my bank and cancelled the card, which still made the trip hard for me since I had no other way of paying for things.¹

Scams Don’t Only Happen to Stupid People

Scams also happen to smart people. High-achieving people. People who have financial advisors. People who’ve read all the “how to spot a scam” articles and think they’d never fall for it.

I know, because I’ve seen it. I’ve had clients—brilliant, thoughtful, financially responsible people—fall for scams. People with graduate degrees. People who run companies. People who pay me to help manage their wealth. They still fall prey to a scam. Not because they’re naive, but because scammers exploit the things no spreadsheet can protect against: fear and shame.

The $50,000 in a Shoebox Amazon Scam

My friend Charlotte Cowles is a financial columnist. She’s smart. Articulate. Thoughtful. She knows how money works, and she still got scammed.

She wrote about it in her widely-shared piece for The Cut:“The Day I Put $50,000 in a Shoe Box and Handed It to a Stranger.”

The short version? She got a call about suspicious Amazon activity. Then she was “transferred” to someone claiming to be with the FTC. Then another call, from someone claiming to be a CIA agent. They told her her identity had been stolen by a drug cartel. They showed her fake government documents. They knew personal information about her family, including her two-year-old son. They told her not to speak to anyone—not even her husband. That it was a matter of national security.

Eventually, they convinced her to withdraw $50,000 in cash and hand it over to a man in a rental car for “safekeeping.” And she did it.

Because shame, fear, and urgency are a powerful combination. It’s a masterclass in psychological manipulation. The scammers make you feel scared and alone, like you might put your loved ones in danger if you tell them.

Charlotte’s decision to share that story publicly was incredibly brave. Most people never talk about whether they’ve been scammed. That silence is what keeps the scams going. If you’d like to learn more, listen to Charlotte on my podcast.

Forward This to Someone You Love

Sometimes the best financial planning tool is communication. One way to prevent scams from happening in your future is to try this tactic on your loved ones. Reach out to them with a quick email or text and say something like:

“Hey, just read this article on financial scams. It’s wild what’s out there. Wanna come up with a code word in case one of us ever gets a weird call that sounds serious? Something like ‘Muffuletta.’”

P.S. Never wire money. Never send cash. Always FaceTime first.

I love you!!!

Sharing something like this article gives you a way in. You’re not accusing your loved ones of being naive, you’re saying, this scares me too. That reframes the whole conversation. It’s not a lecture, it’s solidarity. Saying “I just read this and thought we should have a plan” makes it easier for people—especially parents—to hear you without feeling judged. It invites collaboration instead of defensiveness. And that’s the real goal here: not just avoiding scams, but building the kind of trust that helps you navigate whatever comes next.

How to Avoid Getting Scammed

I have only two simple rules for you to remember:

1. Never ever send cash or a wire.
   It is always a scam. Period. Full stop. The government, the FBI, the IRS or any other agency does not accept cash. If you find yourself at the bank withdrawing money, I hope that you can hear my voice in your head: IT’S A SCAM, WALK AWAY. TELL THEM YOU FEEL SICK. GET IN AN UBER AND CALL SOMEONE YOU TRUST.

2. Always talk to the person directly.

   If someone contacts you claiming to be a friend or relative in trouble, ask to video chat. Scammers will make excuses. “The camera’s broken.” “I’m in a hospital.” “I’m overseas.” Nope. Huge red flag. If they’re real, they’ll talk to you face-to-face.

Familiarize yourself with common scams so you’ll know how to recognize them and your intuition will be stronger against their psychological manipulation.

Scams rely on urgency, isolation, and manipulation. The best defense is familiarity. The more you know their moves, the easier it is to shut them down.

Here are a few common scenarios scammers will use:

• Posing as a loved one or acquaintance: “I’m traveling abroad and I lost my wallet. Can you wire me money?”

• Posing as a big company or a bank: “This is Amazon/Microsoft/your bank—we need your help to catch the criminals who stole your identity or your money.”

• Posing as the IRS: “You owe the IRS. Pay now or you’ll be arrested.”

• Posing as a hospital or other medical care: “Your daughter has been in an accident, we need money to pay for medical assistance.”

• Posing as computer tech support: “This is tech support. I need remote access to your computer.”

• Sharing news that’s too good to be true: “Congratulations! You’ve won a prize. Just pay the fees to collect it.”

The best defense is to contact either the person mentioned in the urgent situation or someone you trust. If they tell you not to contact your daughter/husband/mother/sister, you should do just the opposite. CALL that person, Facetime is even better. Remember, the scammers may have enough information to spoof your loved one’s email or voice, so you need to get them on a live phone call.

What to Do If You Get Scammed

First, take a breath. It happens to smart people every single day. Now:

• Call your bank or credit card provider immediately. Freeze or cancel any compromised accounts.

• Place a fraud alert on your credit report through Equifax, Experian, or TransUnion.

• Report the scam to the FTC at reportfraud.ftc.gov or to your state attorney general.

• Tell someone. Shame is the scammer’s best tool. The minute you talk about it, you take your power back.

Scammers don’t target “stupid” or “old” people. They target busy people. Stressed people. People who are trying to do the right thing under pressure. They target you when you’re in motion, not when you’re reading blog posts and patting yourself on the back for not clicking phishing links.

Slow down. Trust your gut. Phone a friend. And if someone’s telling you that you’ll be arrested if you don’t act right now, you probably won’t be.

Forward this article to someone you love. Put a sticky note next to your computer with the two rules to avoid getting scammed. And for the love of god, if your “bank” calls you at 8 p.m. the night before a work trip… hang up.

Parting shot: Scammers win when we stay quiet. So talk about it, laugh about it, make a code word. Just don’t pretend it can’t happen to you.

1. Note to employers: this is why you should never make your employees front money for business expenses. It unfairly puts young and poorer people at risk.