Higher Interest Rates Leading to Spike in Online Loan Scams

Arizona’s Family On Your Side

Higher prices are affecting just about everything we buy, including housing and transportation. The Feds recently raised interest rates to slow down borrowing which will hopefully bring down prices for consumers.

And that makes the perfect opportunity for scammers to take advantage of you. So today, we're talking to Zulfikar Ramzan. He's the Chief Scientist at Aura which is an online security company that helps prevent consumers from being scammed online. He tells us his company has seen a dramatic uptick in loan and interest rate scams tied to inflation. He'll also tell us how the scams work and what you need to look out for to keep from getting ripped off.