As technology continues to evolve, so too do the potential avenues scammers can take to steal your private information. But with a few simple steps, you can ensure you stay safe. Here are some signs of fraud you can spot to avoid becoming a victim.
Peer-to-peer payment apps like Venmo, Cash App, or Zelle are often at risk of fraud. Never send payments to anyone unless you are 100% sure of to whom they are going. Due to third-party terms and conditions, once the money leaves your account and the transaction is accepted, your financial institution may not be able to recover your funds if it turns out to be fraudulent. Use your best judgment, and if something doesn't feel right, do your research before completing the cash transfer.
Scammers may ask for a specific type of payment that is out of the norm, such as gift cards, wire transfers, or cryptocurrency. This is usually a sign of fraud. With a gift card, once it’s sent and used, there is no way of recovering those funds. It’s also helpful to remember that government organizations, like the IRS, and financial institutions will never demand payment over the phone and/or in the form of gift cards.
Some fraudsters are able to fake an email from a source you trust. This email may include links that, upon clicking, can infiltrate your device and access sensitive information. Before clicking on any links in emails, verify the source.
Be sure to take note of any spelling inconsistencies, such as using a ‘v’ in the place of a ‘w’ that could be easily missed. It may be a good idea to research online and see if any others have seen similar messages.
Many people fall for cashier’s check scams because they are considered to be fairly ‘safe’. If possible, be with the buyer when they receive their cashier’s check to ensure they don’t switch out to a fake check. Never accept a check that is for more than the asking price of whatever you are selling. This is a common scam where the check will bounce, but you won't know until it's too late.
If an offer seems too good to be true, it usually is. Do your due diligence to ensure you're not going to be in a position where you're susceptible to being a victim of fraud. Trust your instincts and take the necessary precautions to protect yourself and your financial information.