There are many ways scammers can target you, especially online. Romance, Phishing, Online Shopping, Crypto and Social Engineering Attacks are some common ways you can get scammed. Not only can they affect you financially, but they can also create emotional and mental stress in your life.
Scams come in many forms, but most scammers use email or text messages to trick you into giving them your personal information.
They may try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could gain access to your email, bank, or other accounts.
So, how do you know that you are being scammed? Scammers often update their tactics, but there are some signs that will help you recognize a scammer right away.
There are many ways scammers can target you, especially online. Romance, Phishing, Online Shopping, Crypto and Social Engineering Attacks are some common ways you can get scammed. Not only can they affect you financially, but they can also create emotional and mental stress in your life.
Signs of a "Romance Scam:"
First, cross-check and verify that you are really talking to who they say they are.
Tell a friend or family member you trust what about this new romance you’ve started.
DO NOT SEND MONEY. Never wire money, put money on a gift card, or send cash to an online love interest. I can guarantee you won’t ever get it back.
A great example is The Tinder Swindler, a Netflix documentary about Simon Leviev, a conman who emotionally manipulated women to give him more than $10 million combined.
Although this is an extreme situation, the basis behind the scam is still the same. Report your experience to the online dating site, or social media platform, the Federal Trade Commission (ftc.gov/complaint) or Federal Bureau of Investigations (ic3.gov)
Not Sure Where to Start? Click Here.
Signs of a phishing scam:
No legitimate organization will send emails from an address that ends “@gmail.com.”
Most organizations will have their own email domain and company accounts. The domain ‘microsfrtfonline (dot) com’, which to a casual reader mimics the words ‘Microsoft Online’, could reasonably be considered a legitimate address.
You can often tell if an email is a scam if it contains poor spelling and grammar. Phishing emails come in many forms, but you might also get scam text messages, phone calls, or social media posts. You can spot a suspicious link if the destination address doesn’t match the context of the rest of the email.
For example, if you receive an email from Amazon, you expect the link to direct you towards an address that ends with ‘amazon.com’. Unfortunately, many legitimate and scam emails hide the destination address in a button, so it’s not immediately apparent where the link goes.
The scammer will create a sense of urgency and include a button that says, “update information now.” The email is designed to direct them to a mock-up of Amazon’s website, where they will be prompted to enter their payment details. Do not click on anything before reading and verifying where it is coming from.
Signs of online shopping scams:
Make sure you look at every email with a critical eye, it may even appear to be from a reputable retailer you’ve shopped with.
They’ll use any number of tactics to get you to provide personal information like passwords and credit card or bank account numbers.
The scammer may claim they’ve noticed suspicious activity on your account, offer you a great coupon, or say your payment information isn’t up to date. Look for contact information or an "about" page on a retailer's site to learn something about the business.
The absence of an address or contact phone number could indicate trouble. Do not submit personal or financial data to unsecured sites.
Web browsers also help shoppers notice when a site is or isn't secure. On a supposed e-commerce website, a pop-up may appear warning that the site isn't safe and directing shoppers to download a browser update or anti-virus software. Watch out! The download may be the virus.
Fake warnings can appear almost identical to legitimate warnings, but the real ones don't tell you to download anything. Be careful and don’t open anything that you’re not expecting. One wrong click could wipe out your entire savings.
Signs of crypto scams:
Scammers sometimes create fake cryptocurrency trading platforms or fake versions of official crypto wallets to trick unsuspecting victims.
These fake websites usually have similar, but slightly different domain names from the sites they attempt to mimic. The scammers promise to match or multiply the cryptocurrency sent to them in what is known as a giveaway scam.
Clever messaging from what often looks like a valid social media account can create a sense of legitimacy and spark a sense of urgency. Crypto scammers sometimes pose as or claim endorsements from celebrities, businesspeople, or influencers to capture the attention of potential targets.
An initial coin offering or ICO is a way for start-up crypto companies to raise money from future users. Typically, customers are promised a discount on the new crypto coins in exchange for sending active cryptocurrencies like bitcoin or another popular cryptocurrency.
Do your research: The most popular cryptocurrencies are not scams. But if you haven’t heard of a particular cryptocurrency, research it – see if there is a whitepaper you can read, find out who runs it and how it operates, and look for genuine reviews and testimonials.
Look for an up-to-date and credible fake cryptocurrency list to check for scams. Is it too good to be true: Companies that promise guaranteed returns or to make you rich overnight are likely to be scams. If something seems too good to be true, tread carefully.
Signs of social engineering attacks:
There are plenty of legitimate emails that arrive unexpectedly each day, but this is a key trait of most social engineering attacks. In fact, the opposite (i.e., you were expecting the message and its request), is a strong clue that it is not a social engineering scam.
But in general, most social engineering schemes begin with the potential victim receiving an unexpected request. In most cases, social engineering requests ask the potential victim to do something they have never done before. They want you to get money, send money, open a document, run an executable, send information, etc., that the (pretended) sender has never asked before.
Most scams include a heightened sense of urgency. We call these “stressor events”. The scammer wants to communicate a threat of harm (e.g., work, physical, financial, etc.) to the recipient if the potential victim does not move very quickly.
Another reason why stressor events work is because the recipient is being motivated to move very quickly without giving you time to do your research.
Being asked to open documents, execute programs, send information, or put in passwords, are all examples of potentially harmful actions. You can prevent this by slowing down and verifying links before clicking on them. Educating yourself and downloading email protection software can protect your organization.
Remember, if it sounds too good to be true, it probably is. If you are a victim of a scam and need help getting your financials back in order, a financial coach understands the emotional components of dealing with money and stress and can help.
Call, text, or email today for a free consultation.
