Something’s Phishy
4 Common Financial Scams to Avoid
From dating swindles to Bitcoin and cryptocurrency hoaxes, it’s hard to tell the difference between honest offers and scams. Even worse, scams are becoming more creative every day. Here’s a list of some of the most common financial scams to be aware of. Cryptocurrency Scams Bitcoin and other cryptocurrencies have taken the world by storm. Because many people don’t understand how cryptocurrency works, it’s easy for cybercriminals to pull a fast one — or attempt to. To trick unsuspecting victims, scammers set up fake websites that mimic legitimate cryptocurrency platforms. These sites then either urge you to make investments or they will steal your information outright. Fraudulent Retailers On social media websites, you may have noticed suspicious online stores featuring deals that are too good to be true. At checkout,
instead of being directed to a trusted third-party payment process, these merchants may ask for wire transfers or gift cards. Some of these online stores might not even provide contact information! Fake Debt Collectors Criminals will claim to be government representatives and urge you to settle a debt putting you at risk of being arrested, losing your home, or forfeiting your Social Security benefits. These scammers will ask you to pay the fake balance upfront to avoid any serious repercussions. Remember, government entities do not cold-call, so you know to hang up or hit “delete.” Work-From-Home Scams As working from home has recently become the norm for many, this hoax has become
even easier for criminals to pull off. Cybercriminals will contact you, stating you can make hundreds of dollars a week doing nothing more than shopping online as a mystery shopper or another enticing task. They will then tell you that to get started, you’ll need to pay
upfront for training materials — but once you do, you’ll never hear from them again. As a general rule of thumb, stay clear of any offers that seem too good to be true. Likewise, avoid transactions that don’t use a trusted third-party merchant and always do your research! If something seems off, trust your instincts! In today’s world, you never know what hoaxes exist!
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