5 facts about scam and how to protect yourself from being scammed?

By Jhon Dave Cusipag

Have you recently been bombarded with text messages informing you that you have won a jackpot prize even though you didn’t enter any contest? or a job offer from an unfamiliar company? or an invitation to click a link? You might want to hold your horses first! all of that might be a sign of a scam.

But don't worry, we're here to help. Here are some tips on how to avoid being scammed.

1. What are scams, and how do they work?

Scams are designed to trick you into giving away your money or your personal information. Scammers often pose as legitimate companies or people and may even use fraudulent websites or email addresses to make their scams appear official.

Scams can happen in a variety of ways. For example, you may receive a fraudulent email that looks like it's from your bank, asking you to click on a link to update your account information.

It's important to remember that no legitimate company or government agency will ever ask you to provide sensitive information like your bank account number or Social Security number over the phone or through email. If you get a call or email like this, do not respond – it's a scam.

There are many other types of scams, so it's essential to be aware of the signs of a scam and know how to protect yourself.

2. Common types of scams
Here are six of the most common types of scams and some tips on how to avoid them:

1. Phishing Scams: These scams try to trick you into giving away your personal information, such as your bank account details or passwords. Be very careful about any emails or websites that ask for this kind of information. If you're unsure whether an email is genuine, don't click on any links or enter any information.
2. Fraudulent Investment Schemes: These schemes promise high investment returns, but they're just a way for the scammer to take your money. Be wary of any investments that seem too good to be true, and do your research before investing in anything.
3. Dating Scams: These scams involve people posing as potential dates or romantic partners on dating websites or apps. They may try to build a relationship with you before asking for money, or they may ask for money right away. Be cautious about who you talk to online, and never send money to someone you've never met in person.
4. Advance Fee Scams: In this type of scam, someone will offer you a sum of money if you pay them a smaller amount upfront. The upfront fee is usually for taxes, fees, or charges associated with the transaction - but there is no actual money to be received. If someone asks you to pay an upfront fee for anything, it's likely a scam.
5. Employment Scams: In these scams, scammers pose as potential employers and post fake job advertisements online in order to get personal information from job seekers ( such as dates of birth and national insurance numbers). They may also ask for payment to secure the job - but the job doesn't exist. Be cautious about any job offers that come via email or online - if it sounds too good to be true, it probably is!
6. Lottery and Prize Draw Scams: In these scams, scammers claim that you've won a prize in a lottery or competition that you didn't enter - often with a large sum of money at stake. They'll then ask for your personal details and bank account information so they can "transfer" the winnings into your account - but no such transfer will ever occur, and you'll end up out of pocket instead of getting a windfall. Before entering any competitions or draws, make sure you know who is running them and that they are legitimate.

3. How to protect yourself from scams?

No matter how old you are, protecting yourself from scams is essential. Scammers are always coming up with new ways to trick people, so it's necessary to be aware of the latest scams and how to avoid them.

There are a few things you can do to protect yourself from scammers:

-Educate yourself about the latest scams. Read articles, watch videos, and do research, so you know what to look out for.

-Never give out personal information like your Social Security number, credit card number, or bank account number unless you are sure you can trust the person or company you are dealing with.

-If you get a call from someone claiming to be from a government agency or a company you do business with, don't give them any information until you verify that they are who they say they are. Hang up and call the customer service number listed on the official website to ensure the call is legitimate.

-Be suspicious of any email or text message that asks you to click on a link or download a file. These could be downloads that will install malware on your computer or take you to a fake website that will steal your personal information.

-Never pay for anything using prepaid cards, wire transfers, or money grams. These are all ways scammers can get your money without leaving a trace.

-If something sounds too good to be true, it probably is. Be especially wary of offers that require you to make no effort on your part for you to make a lot of money.

4. How to spot a scam?
There are a few key things to look for that can help you spot a scam:

1. Be wary of any offer that sounds too good to be true. If someone is promising you a great return on your investment with little to no risk, it's probably a scam.
2. Be skeptical of anyone who asks you to send them money upfront, especially if they're asking for wire transfers or cryptocurrency.
3. Beware of anyone who pressures you to make a decision quickly or says there's a limited time to act.
4. Don't trust anyone who refuses to provide written information about their investment or seems otherwise evasive about answering your questions.

If you see any of these red flags, walk away and don't look back.

5. What to do if you've been scammed?

If you've been scammed, it's important to act quickly to minimize the damage and protect yourself from further risk.

Here are some steps you should take:

1. Contact your bank or financial institution immediately and report the scam. They may be able to refund your money or help reduce any ongoing financial risk.
2. If you have handed over your personal details (such as your name, address, date of birth, or bank account details), contact your local police station and report the matter. This will help them investigate the scam and could stop someone else from being scammed in the future.
3. If you think you might have provided your computer login details or installed malicious software on your device, run a virus scan with anti-virus software and change all of your passwords (including on email accounts, social media accounts, and online banking).

Always remember: if it sounds too good to be true, it probably is! So stay safe out there, and don't let the scammers get you.