Consumers reported losing almost $8.8 billion to scams and fraud in 2022, up 30 percent over 2021s losses, according tonewly released numbersfrom the Federal Trade Commission (FTC). The rising cost of these crimes is staggering, considering that in 2020 Americans lostonly$3.5 billion to fraud, including identity theft.
Online scams are unfortunately prevalent, and scammers use various tactics to exploit individuals for financial gain. It's crucial to be aware of common online scams to protect yourself. Here are some tactics scammers employ:
Phishing Emails:
- Scammers send emails that appear to be from legitimate organizations, asking recipients to provide sensitive information such as passwords or credit card details. These emails often contain urgent or threatening language to create a sense of urgency.
Fake Websites:
- Scammers create fake websites that mimic legitimate ones, tricking users into providing personal information or making payments. Always verify the legitimacy of a website before entering sensitive information.
Tech Support Scams:
- Scammers pose as tech support agents, claiming there's a problem with your computer or software. They may ask for remote access to your device or request payment for unnecessary services.
Online Shopping Scams:
- Fraudulent online sellers offer goods or services at unrealistically low prices to lure buyers. Victims pay for items that are never delivered, or they receive substandard products.
Social Engineering:
- Scammers manipulate individuals through psychological tactics, often exploiting trust or creating a sense of urgency. This can happen through phone calls, emails, or social media.
Romance Scams:
- Scammers create fake profiles on dating websites or social media, establish romantic relationships with victims, and then request money for various reasons, such as a medical emergency or travel expenses.
Investment Scams:
- Scammers promote fake investment opportunities, promising high returns with little risk. Victims invest money but end up losing it to the scammer.
Lottery or Prize Scams:
- Victims receive notifications claiming they've won a lottery or prize but need to pay fees or provide personal information to claim their winnings.
Ransomware Attacks:
- Malicious software encrypts a victim's files, and scammers demand payment (usually in cryptocurrency) to restore access. Paying the ransom is discouraged, as it doesn't guarantee data recovery.
Impersonation Scams:
- Scammers impersonate authority figures, such as government officials or law enforcement officers, demanding payment or personal information to resolve a fabricated issue.
To protect yourself from online scams:
- Be cautious about sharing personal information online.
- Verify the legitimacy of websites, especially before making payments.
- Use strong, unique passwords for different accounts.
- Keep your software and antivirus programs up to date.
- Be skeptical of unsolicited emails or messages, especially those with urgent requests.
- Educate yourself and others about common online scams.
If you suspect you've encountered a scam, report it to the appropriate authorities and seek assistance from law enforcement or consumer protection agencies.
