A $50k CIA Imposter Scam Went Viral. Here's How To Keep Yourself Safe.
After a personal finance expert fell victim to scammers posing as the CIA, the Federal Trade Commission shared advice for keeping yourself safe.
Imposter scams are on the rise as a recent report shows and they are fooling more of us.
A recent example of that is Charlotte Cowles, a financial-advice columnist, who was scammed out of $50,000 by people posing as government officials. She shared her experience in a February 15 report for New York Magazine's The Cut.
The intricate scam started with a call from an "Amazon employee" reporting fraudulent activity on her account and ended with an "investigator" alleging to be working with the CIA. After reciting her Social Security information as well as information about her family, the imposter managed to get Cowles to hand over $50,000 in a shoebox to a person who came directly to her home to retrieve it.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The piece, which has since gone viral, is a chilling reminder of not only the lengths scammers will go to, but the reality that this type of scam is easier to fall for than you might want to believe. People lost $10 billion to scams last year, up 14% from 2022, according to the Federal Trade Commission (FTC). Imposter scams accounted for $2.7 billion of the loss.
Following The Cut article's publication, FTC Chair Lina Khan appeared to respond to it on X, the social media platform formerly known as Twitter.
"Being the victim of a scam can be devastating," she wrote in a thread. "A reminder that nobody from @FTC will ever give you a badge number, ask you to confirm your Social Security number, ask how much money you have in your bank account, transfer you to a CIA agent, or send you texts out of the blue."
It's becoming an easier game for fraudulent actors to rip people off, she said, thanks to improvements in artificial intelligence (AI). On February 15, the FTC proposed new protections to help protect people from and recover money lost to impersonator scams, including people posing as government agencies or officials. The agency said it is taking action amid surging complaints regarding impersonation fraud and the harms caused to consumers as well as impersonated individuals.
"As scammers find new ways to defraud consumers, including through AI-generated deepfakes, this proposal will help the agency deter fraud and secure redress for harmed consumers," the agency said.
Keep yourself safe from financial scams
The FTC offers a number of resources if you suspect you've been a victim of any kind of scam. These include reporting the incident to the FTC as well as keeping yourself updated on common scams and identity theft tactics.
It's easy to feel isolated in these types of situations, but the fact is they are only becoming more common and more sophisticated, as the FTC pointed out.
In addition to imposter scams, the FTC report shows that other scams on the rise include those related to online shopping; prizes, sweepstakes and lotteries; investments; and business and job opportunities.
In addition, QR code scams are becoming increasingly common as are text message scams, including from people posing as delivery workers or even your friends and family.
The FTC offers a number of resources if you suspect you've been a victim of any kind of scam. These include reporting the incident to the FTC as well as keeping yourself updated on common scams and identity theft tactics.
In her article for The Cut, Cowles mentioned one habit she has that is helpful for keeping an eye out for scams: regularly monitoring your accounts and credit score to catch any anomalies, points out Kiplinger senior digital editor Alexandra Svokos. That nothing seemed out of the usual would be a clue the call she got was not real.
"And as a general rule, you should pause and take a breath if anyone calls, texts or emails you asking for money or personal information, like a Social Security number or to confirm a bank account number," suggests Svokos. Take the extra step to try confirming they actually are who they say they are, she says, such as by hanging up and directly calling the number of the institution or friend they claim to be.
"Cases like Cowles' aren't unusual, as the FTC numbers show," Svokos says, "but just because it could happen to anyone — even personal finance experts — we shouldn't let down our guard. Her story is a shocking reminder of how far scammers will go to trick you."
RELATED CONTENT
-
5 Investment Opportunities in 2026As investors game-plan for the year ahead, these five areas of the equity markets deserve their attention.
-
How Verizon’s Free Phone Deals WorkWhat shoppers need to know about eligibility, bill credits and plan costs.
-
Does Your Car Insurer Need to Know All Your Kids? Michigan Cases Raise QuestionWho you list on your policy matters more than most drivers realize, especially when it comes to who lives in your home.
-
Does Your Car Insurer Need to Know All Your Kids? Michigan Cases Raise Question
Who you list on your policy matters more than most drivers realize, especially when it comes to who lives in your home.
-
Is Direct Primary Care Right for Your Health Needs?With the direct primary care model, you pay a membership fee for more personalized medical services.
-
Smart Ways to Share a Credit CardAdding an authorized user has its benefits, but make sure you set the ground rules.
-
Consider These 4 Tweaks to Your 2026 Financial Plan, Courtesy of a Financial PlannerThere's never a bad time to make or review a financial plan. But recent changes to the financial landscape might make it especially important to do so now.
-
We Know You Hate Your Insurance, But Here's Why You Should Show It Some LoveSure, it's pricey, the policies are confusing, and the claims process is slow, but insurance is essentially the friend who shows up during life's worst moments.
-
6 Financially Savvy Power Moves for Women in 2026 (Prepare to Be in Charge!)Don't let the day-to-day get in the way of long-term financial planning. Here's how to get organized — including a reminder to dream big about your future.
-
Countries That Will Pay You to Move: Cash Grants, Incentives and What to KnowExplore real relocation incentives — from cash grants and tax breaks to startup funding — that make moving abroad or to smaller towns more affordable and rewarding.
-
Mortgage Protection Insurance: What It Covers and When It Makes SenseHow mortgage protection insurance works, what it costs, and when it’s actually useful in a financial plan.
