Protecting The Saints From Scams

A. Today’s sermon is a unique one in that it is part sermon and part public service announcement.

1. I have titled the sermon: “Protecting the Saints from Scams.”

2. And that’s what I hope to do in today’s sermon – protect our church family from financial exploitation.

3. Our deacon of benevolence encouraged me to preach a sermon or teach a class on this subject in order to educate our congregation about financial scams, because several of our church members have been scammed.

B. Even though this isn’t a laughing matter, I thought it might be good to start on the light side.

1. I got an email from a prince offering me a fortune if I helped him transfer money.

I thought, “Why not? I could use a little royal deception in my life!”

2. Why don’t scammers ever get lost? Because they always follow the money!

3. What do you call a financial scammer who becomes a musician? A con-artist!

C. Tragically, this subject is a serious matter that has afflicted suffering on many a victim.

1. How big a problem is financial scamming? Here is the answer from Kiplinger.com:

2. The FTC received 2.6 million fraud reports from consumers in 2023, an increase of about 8% from the 2.4 million reported in 2022.

3. The FTC report says that one in four people reported losing money, with a median loss of $500 per person.

4. Last year, scams cost consumers $8.8 billion, which was an alarming 30% increase over 2021’s total of $6.1 billion.

5. The FTC report reveals the losses from the following kinds of scams:

a. Category Number of Reports Total $ Loss Median $ Loss

b. Imposter Scams 853,935 $2,668.1M $800

c. Online Shopping 368,379 $392.2M $125

d. Prizes, Sweepstakes and Lotteries 157,520 $337.9M $878

e. Investment Related 107,669 $4,641.9M $7,768

f. Business and Job Opportunities 107,134 $490.7M $2,137

6. So, as you can see, this is a big problem and that’s why I am addressing it in a sermon.

D. One of the biggest mistakes any of us can make when it comes to protecting ourselves from financial scams is thinking we’re too smart to be duped by one.

1. Eva Velasquez, president and CEO of the Identity Theft Resource Center, a nonprofit organization that provides advice and assistance related to identity theft, says: “We’re all vulnerable — we can all fall for a scam given the right set of circumstances.”

2. John Breyault, vice president of public policy, telecommunications and fraud at the National Consumers League, says: “You look at the profiles of victims who filed complaints and it runs the gamut from highly educated, high-income people all the way down to the most vulnerable people in our population.”

3. Keeping ourselves safe starts with accepting that fact that any of us can fall, that all of us are vulnerable.

4. The apostle Paul gave us this warning: So, if you think you are standing firm, be careful that you don’t fall! (1 Cor. 10:12)

5. That vulnerability applies to all kinds of temptations and sins and scams.

E. While there isn’t a foolproof solution to stay safe from all scams, there are strategies we can employ to reduce our risk.

1. In addition to being aware of our own vulnerability, we can make ourselves aware of the kinds of scams that are out there.

2. So, let’s spend a few minutes going over the kinds of scams there are, the way they work, and how they can be detected.

F. Here are a few general types of scams that are being used (keep in mind that scammers are always trying to come up with new ways to exploit others).

1. Imposter Scams

a. Imposter scams come in many forms, but the bottom line is that the scammer pretends to be someone you know or someone you can trust and they are very convincing.

b. These scams are communicated through emails, phone calls, letters, text messages, and through social media.

c. They might pretend to be a family member or friend in need, or they might pose as a government official, or a representative of a trustworthy organization, like your bank or a prize or lottery company, like Publisher’s Clearing house.

d. They might be calling with an offer to help you with your debt problem, student loans, or mortgage foreclosure.

e. So, they might be calling with good news: you are a winner; or bad news; you are about to be arrested or fined.

f. In the end, all of them are either looking to steal your personal information or your money or both.

2. Dating/Romance Scams

a. Preying on victims’ desire for love and connection, romance scammers trick consumers into falling in love with them only to ask for money or access to financial information.