The greatest way to stay safe from these type of frauds is to remain aware of the risks and how to mitigate them. We are listing here the most common internet scams, along with tips on how to spot them.
1. Scam involving charitable donations
The complexity of schemes operated by registered nonprofits can vary greatly from simple one-man shows to intricate ones. Either way, the cash you feel pressured to donate serves no purpose. Rather, it goes directly to the scammer.
Phishing is a type of frauds in which an email correspondence or website appears to be from a reputable company. But more often than not, a con artist will take advantage of social engineering and target your emotions by calling or meeting with you in person.
Avoid letting others take advantage of your kindness. Before making a donation, do some research on the organization and check the nonprofit’s website for the Employer Identification Number (EIN) to make sure the funds are going to the correct place.
2. Scams involving job offers
Scams involving job offers surged amid the coronavirus outbreak. In this scam, you receive an unsolicited email offering a position as a mystery shopper or something similar, which is typically outside of your area of expertise. When you accept, you receive payment in the form of a check or money order that is greater than what your employer offer to you. You discover that the original money order or check was fake after return the difference, which leaves you without the money.
Unsolicited job offers are common due to the widespread use of professional networking sites like LinkedIn, so job seekers need to get adept at differentiating between the real offers and the scams.
How to spot fraudulent job offers
Never cash dubious checks without first making sure they are real, even if you choose to take a job. For added assurance, request that your bank hold the funds until the check or money order is verified. You are probably a victim of fraud if you return the “difference.”
3. Romance frauds
A romance scam is another type of social engineering fraud that can leave you devastated emotionally in addition to financially.
The offender approaches you through a social media or dating app, wins you over, and makes a hasty attempt to start a relationship. They are pros at seeming genuinely kind, sincere, and flawless. A typical indicator of a romance scammer is that they most likely live far away and arrange to meet you in person.
Romance scam victims frequently experience severe trust issues, debt, and legal issues. Take it slow in any online romance and don’t hesitate to do extensive research on someone, even if they seem ideal, to avoid falling for a dangerous fake.
Alternatively, they will beg for money from you to bail them out of trouble or to cover unforeseen medical costs. They’ll typically tell you to wire money or load it onto a gift card. Until you stop sending them money, they may keep requesting it, at which point your online love will vanish.
4. Lottery frauds
With these type of frauds, you usually get an email saying you’ve won a small-time lottery, usually in another country, and always with a sizable payout. There is a fee that you must pay in order to claim your prize. Frequently, con artists will claim that these expenses cover insurance premiums, taxes, bank fees, or courier fees. For verification, they ask you to submit your personal information. All of a sudden, the funds you sent disappear and you fall prey to identity theft.
Tips for avoiding lottery fraud
- It’s a person, not a company, sending the email.
- It’s not just you who benefits.
- You’re not familiar with lotteries.
Check to see if this kind of email is genuine if you receive one. Just Google it. (It is never.) Although it is everyone’s dream to win the lotto without having to buy a ticket, it is highly unlikely that you have. Never email someone you don’t know your personal information, and be wary of people attempting to con you out of money.
5. Scams involving fitness and weight loss
Humans naturally desire amazing outcomes with little work. However, con artists are trying to lighten their victims’ bank accounts by preying on people’s desire to lose a few dollars.
You might be approached by someone trying to convince you to sign up for a cheap gym membership or a different fitness product with the claim that “you can look like new and lose 100 pounds in three weeks because of the program.” for which your credit card and personal information are required.
The lesson here is to be wary and steer clear of anything that appears too good or too cheap to be true.
6. Beneficiary frauds
In these type of frauds someone who is trying to swiftly transfer some money emails you. Often, these emails are from a “businessman” who claims to have millions to move out of the country and wants your assistance in exchange for a share of the profits. You’ve probably heard of the Nigerian prince scam. Occasionally, these emails come from people claiming to be royalty. The sender provides just enough information to establish the legitimacy of the offer. Nevertheless, there will inevitably be a delay in the funds, so in order to facilitate the transfer of funds, you will need to make multiple small payments.
Ways to prevent beneficiary fraud
If you’re a victim of this type of frauds, it’s easy to fall for it; however, there are a few telltale signs that this is not what it seems. Anything that sounds too good to be true, especially on the internet, usually is. The original email’s poor spelling and grammar as well as the reply address that doesn’t match the sender serve as examples of this.
7. Scams involving auto warranties
When a scam turns into a meme, you can be sure it’s widespread.
If you’re also not returning these calls, well done. If not, they will ask you to divulge financial or personal data. Alternatively, the scammer may attempt to trick you into parting with thousands of dollars by passing off a phony extended car warranty.
Because of this, you should hang up the phone as soon as you hear a pre-recorded message regarding your auto warranty. You can give them a call again at their official number to confirm if you believe that might be your car dealership calling.
8. Scams involving online dating
When you start getting to know someone you met through a dating app or website, it can feel genuine. But you never know who might be staring at you from the other side of the screen. Once you get into an online relationship and someone starts requesting money or asking you to forward things they send you, you have met a scammer.
Scams on dating sites usually involve a few main elements.
- A swift transition into private channels from dating apps or websites.
- Strong feelings expressed in a short space of time.
- Requests for financial assistance stemming from personal hardships, such as a sick relative or a failing business.
How to prevent scams when dating online
To stay away these type of frauds, don’t give someone money unless you have an offline relationship with them. To be safe and want to stay away from these type of frauds, let the people in your life know where you’ll be if you decide to go on a date with someone you met offline.
9. Scams involving gift cards
Scammers can deplete a gift card’s balance in a few different ways before you use it. For example, they could steal the bar codes, tamper with the protective strips, and remove cards from the store rack. The con artist buys similar security tape and replaces the strips to make the card look like it has never been touched.
Next, in order for the scammer to spend the money on the card or cash it, they input the card’s code into a program that monitors the retailer’s website and notifies them when someone purchases the card. As such, by the time the card gets to its intended recipient, it’s just worthless plastic.
Websites that allow you to exchange gift cards or check the balance on your card are promoted by other con artists. Your gift card information is requested from you, and the con artist uses it to deplete the balance on the card. To save yourself from these type of frauds, please don’t share any personal information and gift card information.
How to guard against
To save yourself from these type of frauds, avoid using a debit card
Debit cards are directly associated with your checking and, in certain situations, savings and other accounts. Credit cards provide certain consumer protections that debit cards do not. It could be hard to get your money back once it has been stolen. For the majority of transactions, it is therefore preferable to use credit cards.
10. Repair frauds
Someone calling you on the phone claims to be from “Microsoft” or a similar large software company, and they offer to fix PC issues like loading times and slow internet. This is an example of a scam that originates in the real world and swiftly spreads to the internet.
When the email shows up in your inbox, you download a remote access program because it seems helpful. This lets scammers take over your computer and install malware. Since not all customers are equally tech-savvy, many are unaware of how their computers operate and are therefore more susceptible to fraud. They can access your files, data, and personal information as soon as they install malware.
How to stay away from these type of frauds
Repair advice should never be accepted without request, and you should never pay for repairs unless you are certain of the source. Keep your computer off of anyone’s remote access. Ask for identifying information if someone calls. Asking enough questions is likely to make the scammer realize you’re not fooled.
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