NEW YORK (AP) — October marks Cybersecurity Awareness Month, a timely reminder to equip yourself with knowledge on how to defend against scams.
“Scammers are using increasingly complex tactics. Phishing emails, deceptive texts, and caller ID spoofing offer them an advantage,” explained Eva Velasquez, president and CEO of the Identity Theft Resource Center.
With scammers continually developing new methods to acquire money and personal data, it’s essential for consumers to remain cautious about whom they engage with online. Alissa Abdullah, known as Dr. Jay and Mastercard’s deputy chief security officer, suggests a simple strategy to remember when encountering a potential scam: the three S’s.
“Stay suspicious, take a moment to pause and consider the situation, and stay protected,” she advised.
Here’s a breakdown of essential information regarding common scams and how to recognize them:
Understand Scammers’ Strategies
Petros Efstathopoulos, a security expert, highlights three prevalent tactics used by scammers: fear, urgency, and monetary gain.
— **Fear**: Scammers will often craft messages that suggest an urgent problem that needs immediate resolution. For instance, you might receive an email claiming there’s an error with your tax return and warning of severe consequences if you don’t respond quickly.
— **Urgency**: Scammers excel at creating a sense of urgency, prompting victims to act hastily and make poor choices, such as divulging sensitive information like Social Security numbers.
— **Money**: Many scams use financial allure. For instance, scammers may pose as tax professionals or IRS agents claiming you can receive a substantially larger tax refund if you pay up front or provide personal information.
Recognize Common Scams
Experts emphasize the importance of being aware of standard scams. Robocalls often specifically target at-risk groups such as seniors and those with disabilities or debt.
“If you receive an unsolicited robocall with a recorded sales pitch, simply hang up,” advised James Lee, chief operating officer at the Identity Theft Resource Center. “The same applies to unsolicited texts from unknown numbers requesting payment, wiring money, or clicking links.”
Lee also suggests always verifying the legitimacy of a call by reaching out to the company or organization using official contact numbers, especially if someone claims to be an authority figure, like a tax collector or even a loved one in distress.
Beware of Romance Scams
According to Will Maxson, assistant director at the FTC’s Division of Marketing Practices, “romance scams” usually target lonely individuals. These frauds can stretch over a long period, sometimes even years.
Kate Kleinart, 70, who fell victim and lost a significant amount through a romance scam, suggests being wary if a new friend on Facebook appears overly charming, requests communication via WhatsApp, isolates you from real-life friends, or pushes for a rapid romantic connection.
“If you come across an exceptionally attractive profile, get a younger family member to help you perform a reverse-image search of the photo,” she recommended. “The person whose images I received was a plastic surgeon in Spain—his photos were stolen by scammers.”
Watch for Job Scams
Job scams often involve impersonating recruiters or organizations to extract money or personal information from job seekers. Efstathopoulos warned that these scams often present unusually enticing job offers.
“They tend to offer very high salaries for minimal work requirements,” she pointed out. “Moreover, they frequently promote 100% remote positions, which attract many applicants.”
Some scammers advertise fake job listings, while others proactively reach out via direct messages or texts. If they seek your personal information, they might ask you to fill out forms requesting sensitive data like your Social Security number or driver’s license.
Stay Alert for Investment Scams
Lois Greisman from the FTC identifies investment scams as “get-rich-quick” schemes, often marketed through social media or online ads. These frauds frequently leverage testimonials and may involve cryptocurrency.
To avoid falling for these scams, the FTC advises conducting independent research about the company. Search for the company’s name alongside terms like “review” or “scam” to uncover any potential red flags.
Caution with Quiz Scams
While scrolling through Facebook or Google, be cautious of seemingly harmless quiz scams that aim to collect personal information by asking about your interests or preferences. Scammers can leverage the information you provide to access your accounts or send malware to your contacts.
The FTC recommends avoiding online quizzes altogether and suggests using random answers for security questions to protect your personal information. “If asked for your mother’s maiden name, respond with a memorable word such as ‘Parmesan’,” said Terri Miller, a consumer education specialist at the FTC. “This way, scammers can’t exploit personal details to steal your identity.”
Marketplace Scams
Whether buying or selling items on platforms like Instagram or Facebook Marketplace, beware of scammers. It’s crucial to inspect the seller’s profile, refrain from sharing any codes sent to your phone or email, and avoid processing payments from unfamiliar individuals.
When making a purchase, thoroughly research the seller and check if their profile is verified, what reviews they have received, and the terms of sale.
Stay Unreachable to Unknown Callers
Many scammers call unsuspecting victims, so it’s advisable to avoid answering calls from unknown numbers, suggests Ben Hoffman, Head of Strategy and Consumer Products at Fifth Third Bank.
“Banks will never ask you for your password,” Hoffman emphasized. “If you believe you’re receiving a legitimate call from your bank, hang up and call them back using the contact number provided on their official site.”
Leverage Protective Technologies
There are several tools at your disposal to safeguard against online scams:
— Utilize a password manager to ensure your passwords are complex and not easily guessable.
— Regularly review your credit report and bank statements to detect unauthorized transactions swiftly.
— Activate multi-factor authentication to protect your accounts against unauthorized access.
Seek Help When Needed
As scams continue to evolve, discerning genuine interactions from fraudulent ones becomes increasingly challenging. If you are uncertain about the legitimacy of a job offer or a bank inquiry, reach out for assistance. Organizations such as the Identity Theft Protection Center and the AARP Fraud Watch Network provide free resources to help individuals identify scams and respond appropriately if scammed.
Educate Your Loved Ones
If you’ve taken steps to protect yourself from scams, consider extending that knowledge to others. Whether you’re assisting your grandparents in blocking unknown callers or sharing tips with neighbors, constructive conversations about scam prevention can be incredibly beneficial.
Report Any Scams
If you or anyone you know has fallen victim to a scam, it’s essential to report the incident on the FTC’s website.
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The Associated Press receives support from the Charles Schwab Foundation to enhance educational and explanatory reporting to improve financial literacy. The independent foundation operates separately from Charles Schwab and Co. Inc., and the AP maintains sole responsibility for its journalism.
