There’s nothing we hate more here at Don’t Waste Your Money than scams.
That’s why we’re letting you know about a common phone scam that pops up periodically that helps criminals steal your money. If you call or text back the number on your screen, you could be inadvertently giving your money away to scammers.
Here’s what you need to know: You’ll get a phone call or a text message from a number you don’t recognize. In one scenario of the scam, the criminal will hang up before you answer, which may pique your curiosity enough for you to call them back.
In another scenario, they’ll play a recording of someone crying for help or asking for medical attention and then hang up, which may also prompt you to call back. According to the Federal Communications Commission, the scammer may also tell you you’re eligible for a prize.
In the texting version, a criminal will send a message pretending to be someone in need of help. They may ask you to call or text back.
These scams go by a handful of different names—the 473 Scam, the Ring and Run Scam or the One Ring Scam.
No matter what you call them, these scams are costly. The best thing to do is to ignore phone calls and text messages from numbers you don’t recognize.