CSGN-2201
When a con artist gets their victim’s personal or financial information and uses it for their own gain, or when they trick their victim into giving them money under false pretenses, this is called fraud. It is a criminal offense to commit fraud.
While some scammers will simply ask their target directly for money, others are going to be more subtle on what it is that they seek. They are able to deceive you into giving up sensitive personal or business information, which they then use to:
- get access to your finances
- steal your identity
- buy goods or services
- access your business networks or systems.
Common types of scam
Phishing is a type of email scam in which the sender poses as a reliable organization, such as a bank or government body, in an effort to get personal information, such as your internet banking login credentials.
Social media scams are situations where a con artist poses as someone you know to get money from you. For instance, they may claim that they need the money to pay for unforeseen medical expenses or that they need it to help them go home because they are stranded somewhere without access to money. Scams on social media rely on people’s generosity and desire to help others.
Invoice scams affect both businesses and individuals. Scammers generate fictitious invoices demanding payment for products or services you neither requested nor received. They frequently claim that the payment deadline has gone or that missing the deadline will incur non-existent fines.
Tech-scam calls are where scammers call people at home pretending to be from a well-known tech company like Microsoft. They frequently ask for remote access to your computer or other device, saying they have to do so to fix a problem or install a software update. They attempt to get your private and financial information by doing this.
Money scams are common online. They include “get rich quick” schemes like the Nigerian prince scam, unexpected prizes, fake auctions, and any other number of scams intended to part people with their money — or with personal details that the scammer can use for their own gain.
Romance scams are where a scammer takes advantage of someone looking for a relationship online. Scammers will use social media, dating apps, and other online platforms to develop a rapport with their victims. After gaining the victim’s confidence, the con artist would ask for money, gifts, or sensitive information that can be utilized later in a fraudulent scheme. To avoid detection, they frequently create fictitious accounts.
Text message scams (SMS) are when when a scammer uses an initial text message to gain financial details, personal information, access to your phone or money.
Scam and fraud prevention
There’s a number of ways you can protect yourself against scams and fraud.
- Don’t give out too much personal information online, whether on social media or by email.
- Give out as little as possible about yourself on the internet, including in emails and social media.
- Make sure your social media accounts are secure by implementing appropriate privacy settings and refraining from posting sensitive information.
- Don’t send money to a buddy who asks for it on social media without first verifying that the request is real.
- Modify your online security by using two-factor authentication.
- Don’t make the mistake of reusing a password across all of your many online profiles.
- Take into account the use of a password manager.
- Avoid opening links provided to you by people you don’t know, or that appear out of character for people you do know. If you have doubts about the authenticity of something, it’s best to double-check with the person you believe sent it.
- Don’t fork over cash for products or services you weren’t expecting. Watch out if a business you frequently do business with suddenly alters the account payment data. Contact the company directly to verify any invoice details before making payment.
- Don’t forget to regularly review your bank statements.
- Remember that if anything seems too good to be true, it probably is.
If you’re affected by a scam or fraud
Here’s what to do if you’ve been targeted by a scam or fraud online.
- If you gave out some personal or financial details:
- contact the service provider for your online accounts — like your bank or your email provider. Let them know what’s happened and ask what they can do to help.
- change the passwords for any online accounts you think might be at risk