The online world is NOT always safe
Common tactics used by scammers
An Unexpected Contact
A scammer/fraudster will reach out to you in a variety of ways. The most well-known ways are through email and phone, however that is not their only way of contacting you. You might receive a strange letter one day, or a person might even come knocking on your door. Your friend/family member might even send you a strange email or message saying they are in need of money; however, they will usually refuse a call from you. On social media a very attractive person might contact you out of the blue, and they will “help” you earn money in some way. This makes the interaction more personal and the victim less likely to know it is a scam/fraud.
After Your Money
The goal of any scammer/fraudster is to get money from you, even if that is not obvious in the first few conversations. They will slowly start mentioning either needing money or how to make money, and all you need to do is send some money. They will try and get you to either transfer money, buy a “service”, send gift-cards, etc.
Fake “Emergency”
One of the ways scammers/fraudsters make people more likely to give them money, is to fake an emergency. The emergency can be anything from paying a hospital bill to being trapped in a country with no money. A stressed mind is less likely to think critically about a situation, making it less likely for you to know it is a scam.
Secrecy
Scammers/fraudsters will deter you from telling anyone about them, and they will even threaten you to keep you quiet. They do not want you to tell someone that might know it is a scam/fraud, so they will say anything to lessen the chances of you telling someone. No actual organisation will tell you to keep things a secret, so this is a huge red flag.
Personal Information
By getting their hands on your personal information, they are able to contact your bank/other organisations and pretend to be you. Whenever someone asks for your personal information, such as full credit card information, address, bank information, etc., they are most likely not legit and just scammers/fraudsters. Any actual organisation will never ask for your personal information, so never give out any of your information.
Unrealistic “Prize”
If something sounds too good to be true, it most likely is not true. Scammers/fraudsters will promise you some sort of amazing “prize” for your money, and they even lie about the chances of you winning said “prize”. They will say a pay-off is almost guaranteed and you do not have to worry about losing your money, as long as you listen to them.
Even if they show you, that you have gained money, they will refuse to send any money to you. You are never able to reclaim any of your money, and this is usually a strong sign it is a scam/fraud.
A scam refers to someone swindling another person, usually this will have something to do with money. There are several ways a person can be swindled, and here are a few examples:
Cryptocurrency Scams
A cryptocurrency is a digital currency, and it is one of the most common ways of scamming people, since it does not rely on a bank. In order to use a cryptocurrency, you need a cryptocurrency wallet, and this is where you keep your digital money. It is possible for someone to hack your cryptocurrency wallet, leaving you with nothing.
Scammers will often make you buy cryptocurrency, so the money you give them will not be regulated by a bank. It is a way for the scammer to give you the least amount of information about themselves, and make it harder for you to reclaim your money via a bank. Soon after they have received your money into their own cryptocurrency wallet, they will start to send the money to other accounts, making it even harder for someone to trace them.
Some of the most common cryptocurrencies used are: Bitcoin(BTC), Litecoin(LTC), Tether(USDT), Ethereum(ETH), Bitcoin Cash(BCH), Ethereum Classic(ETC) and Zcash(ZEC).
Forex Trading Scams
The foreign exchange market, also known as Forex, FX or currency market, is about exchanging one currency for another. Trading forex involves the buying of one currency and simultaneous selling of another. In forex, traders attempt to profit by buying and selling currencies by guessing the future value of a currency. In order to start trading, you need to create an account and get into contact with a broker, which is a company that will enable you to buy/sell forex. A proper broker is both licensed and regulated, to make sure they follow proper regulations. It is possible for a person to contact a scam broker, and they will convince you to deposit more money and give you fake outcomes. They will try and convince you what has the best outcomes, whereas an actual broker is not allowed to say anything regarding this.
Binary Option Scams
Binary option is a type of scam in which the pay-out will depend entirely on the outcome of a yes/no proposition. Binary Option typically relates to whether the price of a particular asset that uses the yes/no option will rise above or fall below a specified amount. If a person guesses right, they will get a fixed amount of money, if they lose, they get nothing. Given the all-or-nothing pay-out structure, binary options are sometimes referred to as “all-or-nothing options” or “fixed-return options.”
Other Scams/Frauds
There are a variety of online scams/fraud people need to watch out for, this can even include a fake investment or a romance scam.
A good example of an investment scam, would be someone offering you to buy amazon shares. They are able to manipulate the website you visit, which in turn makes you send money to them instead of an actual company. This scam can seem very real, making it difficult for people to know if they have been scammed.
Another sadly common scam today is the romance scam. A, usually, beautiful person contacts you on your social media, and they create an emotional connection to you. You might even fall in love with this person and start dating them, and you spend your time writing and video-chatting with them. Slowly they will bring up either needing money, or they will tell you about an amazing opportunity that you just HAVE TO invest in. Slowly but surely, they are getting more and more money from you, without you knowing you are a victim.
