We’re in an age where technology is everything. It’s been seamlessly intertwined with daily routines. However, these innovative developments have led to a surge in phone scams. There are no criteria to determine who is at risk because as long as you’re online, you’re a potential target. So, phones are not just your convenient communication tools but could also be fraud hazards.
Additionally, phone scammers are smart and have a few tricks up their sleeves. Hence the need to understand how they operate, the red flags to look out for, and other ways to shield yourself from falling for their evil schemes. The most surefire way is to study and master their ways and most common tactics. That said, here are ten ways to identify phone scams and how to deal with them.
Impersonation Scams
One of the most prevalent schemes is a call from someone claiming to be in a fix and requesting money. They can also pretend to be tax agents, government personnel, friends, or even struggling family members. Many people fall for this scam because the scammers have also gotten very good at it. These con artists will try everything in their playbook to make you send them money. If you’re hesitant, they might even use threats like possibly blocking your accounts to make you act.
So, if you’re unsure about the person on the other end of the call, it’s vital to confirm their real identity before acting on their info. You can look them up in your online contacts on social media or use Nuwber to find more details about them using their phone number.
Bank Scams
If there’s anything that attracts scammers most, it’s money. They’ll find all possible ways to con you out of your hard-earned dollars, and guess where they’ll try to find it? Yes, you guessed right, in the name of your bank. They’ll call and try to get information from you, such as bank details, pins, or passwords. They might even claim that your bank account has an issue; therefore, you need to submit the information and move the money to a different and more secure account.
Banks have done a good job in educating their clients about the importance of protecting personal information. However, this can’t deter phone scammers from exploiting this loophole. In case of serious repercussions, escalate the matter to your bank.
Vishing
A popular tactic in a phone scammer’s handbook is vishing. This is a ruse used to trick users into giving away private details that could potentially be used to commit financial fraud. The elderly are the most vulnerable to these tactics. They sound very convincing so unless you know who you’re dealing with, hold back and avoid sharing any information.
Prize Or Lottery Scams
These scams look so obvious to detect, but they are not. The scammer calls or texts claiming you’ve won a prize or lottery and that you need to pay some fees to claim the reward. The fastest way to detect these scams is if you haven’t participated in any such competition. Another red flag is that if they ask you to pay any money to process your prize, it makes no sense and is most likely a malicious scheme.
Tech Support Scams
There’s been a rise in tech support frauds. These con artists operate under the guise of tech companies, offering to assist with fictitious computer issues for a nominal charge. If you fall for it and let them access your device, they take the time to steal private data they can use to commit fraud. Unless you work in an organization and the tech team calls to handle issues remotely, nobody should be calling you about any issue with your device.
Lucrative Investment Scams
If someone calls with a very interesting investment opportunity that’s too good to be true, think twice before engaging them further. If they assure you of guaranteed profits, what makes them so sure the opportunity will rake in profits? They might even use coercive strategies like fake scarcity or FOMO to tap into your greed and make you act on their offer without blinking. All in all, money is a very sensitive matter, and before making any commitments, spend most of the time doing your due diligence.
Job Offer Scams
Job hunting is often very desperate and emotionally draining, and scammers know it. So, they’ll call or text you, claiming that they have a job for you. However, the catch is that you must pay a commitment fee to cover some non-existent expenses. Some other glaring red flags include a very lucrative offer but never enough information about it or the caller dodging your questions. Getting a job in any reputable organization is mostly free and transparent.
Loan Scams
Callers offering ‘easy to get loans’ with cheap interest and guaranteed approval is a newer scam. However, like with most of these schemes, they’ll ask for personal information or a payment in advance for faster TAT. Hence, you have a valid reason to be suspicious if any loan officer asks for any money upfront. While online money lending seems more convenient, it’s wise to try conventional credit facilities first.
Fraudulent Debt Collection
Maybe you’ve been through this; a message pops up on your screen that says you owe a certain amount of money. It also offers a quick solution of paying up a fraction of it immediately for it to be waived completely. Sounds like a great deal, right? Wrong. It’s just another trick from their long list of greed-inspired scams. They might even make it more real by harassing and threatening you to pay. However, don’t be shaken; as long as you don’t owe them anything, there’s no need to fret.
Romantic Swindles
This is a very interesting but very common kind of phone scam. This trick takes advantage of vulnerable singles who have resorted to finding love online. The fraudsters exploit catfishing tricks where they hide behind fake profiles on dating sites. They carefully hook up with their victims, earn their trust, and later con them huge sums of money. If your newly found romantic partner is suddenly always in debt and needs your help, that’s a red flag. You can help them once, but don’t let them make a habit of it. However, this should also not be in the first few days or months after meeting them.
Conclusion
While technology has made life easier and more enjoyable, you have to be careful to avoid the emerging scams it brings. Be on the lookout and, most importantly, manage your appetite for making quick bucks. Don’t also trust strangers too early; fraudsters exploit these a lot. Be skeptical of anyone trying to get information from you with an over-ambitious offer. Do your due diligence before making any commitments, and always be a step ahead of these cybercriminals.
