FTC Warns of Impersonation Scams Using Chairman's Name

The U.S. Federal Trade Commission (FTC) has issued a warning about a new twist in impersonation scams, with fraudsters claiming to be FTC Chairman Andrew Ferguson.

These imposter scams often begin with an unexpected call or message about a routine issue, such as a suspicious purchase on your Amazon account, a computer virus, or an account breach. The scammers then transfer the victim to someone they claim is a government official who can help.

The fraudsters go to great lengths to gain your trust, using fake government agency names, impersonating real agencies, and even using the names of real FTC officials like Chairman Andrew Ferguson. Some create fake employee names and ID badges.

“No matter who they say they are, the helper does not work for the government, and they’re not there to help you. They’re in on the scam,” the FTC warned.

The scammers often instruct victims to move their money to "protect" it, asking them to transfer funds to a supposedly secure account or deposit it at a cryptocurrency ATM. However, the scammers control these accounts and quickly steal the money.

The FTC has reminded people that legitimate FTC employees will never ask you to move your money to protect it or deposit it into a cryptocurrency ATM. “And they won’t tell you to give cash or gold to someone they’ll send to pick it up.”

If you receive an unexpected call or message about an account problem and think it might be real, verify the information by contacting your bank, broker, investment advisor, or credit card company directly using the number on your account statement or by logging into your account. Avoid using the contact information provided in the unexpected message or call.