This spooky season, don’t let scammers give your finances a fright. Learning their methods can help you recognize common warning signs, protect your money, and respond with confidence.
Scams may take on new disguises, but many of the tricks behind them stay the same. Scammers often create urgency, stir up strong emotions, or pressure you to act before you have time to verify what they’re telling you.
One of the best ways to avoid scams is to slow down, verify unexpected requests, protect your personal information, and be cautious of payment methods that are difficult to reverse.
Once you know the tricks, you can spot the warning signs and feel more confident protecting your finances.
What are the most common signs of a scam?
Scammers often want you to act before you have time to think or verify their claims. Knowing a few common tactics can help you stay in control.
- Creating urgency so you feel pressured to act quickly.
- Using a frightening threat or exciting offer to trigger a strong emotional response.
- Taking advantage of your desire to be helpful, polite, or trusting.
- Unexpectedly asking for personal or financial information.
- Requesting payment through methods that are difficult to reverse.
Now that you know some of the tricks, here’s how to spot them in six common scams.
Employment scams
You find a job listing with great pay and a flexible schedule. But the employer wants your Social Security number or banking information right away. They might also ask you to pay for equipment, training, or even a job interview.
How to spot the trick
A great job opportunity can be exciting, especially when you’ve been searching for a while. Taking a little extra time to verify the opportunity can help you protect yourself.
- Check the employer’s official website to see whether the job is listed.
- Search for reports of scams associated with the company or job posting.
- Take extra time to verify offers that seem too good to be true.
- Avoid paying for an interview, training, or equipment before confirming the opportunity is legitimate.
Read the FTC’s full resource on employment scams.
Law enforcement impersonation scams
You get a phone call from someone claiming to be a police officer or another government official. They pressure you to pay a fine or claim you could face serious consequences if you don’t act immediately. They may even send documents that appear official.
How to spot the trick
Threats and urgency can make it difficult to think clearly. Knowing how legitimate agencies communicate can help you respond with confidence.
- Hang up rather than making a payment or sharing personal information.
- Look up the agency’s official contact information independently if you want to verify the call.
- Be cautious if someone demands immediate payment through gift cards, cryptocurrency, or another unusual payment method.
- Contact law enforcement through an official phone number if someone threatens you.
Wrong number text scams
You get a text that appears to be meant for someone else. If you reply, the sender starts a friendly conversation. Over time, they may ask for money or encourage you to invest.
How to spot the trick
Scammers may take advantage of your natural desire to be polite and helpful. You don’t need to continue an unexpected conversation with someone you don’t know.
- Don’t respond to suspicious wrong number texts.
- Block and report the sender.
- Don’t click unexpected links or share personal or financial information.
Read the FCC’s advice about unwanted calls and texts.
Recovery scams
After experiencing a scam, you receive a message from someone offering to help recover your money. Unfortunately, this may be another scam targeting people who have already lost money.
How to spot the trick
Wanting to recover your money is understandable. Before accepting help, take time to confirm who you are dealing with.
- Report suspected fraud to the appropriate authorities and your financial institution.
- Research any person or company offering recovery services before taking action.
- Watch for unsolicited contact, pressure to act immediately, or requests for upfront fees.
- Contact your financial institution promptly to learn what options may be available.
The FTC offers a deeper dive into recovery scams.
AI and deepfake scams
Artificial intelligence and deepfake technology can make scams seem more convincing. A scammer may imitate the voice or appearance of a friend or family member and claim they need money immediately.
How to spot the trick
An urgent request from someone you care about can create a strong emotional response. Give yourself time to verify what you are hearing before you act.
- Hang up and contact your friend or family member directly using a phone number you already know.
- Create a family code word that you can use to verify unexpected emergency requests.
- Be cautious if someone asks for gift cards, prepaid cards, wire transfers, or cryptocurrency.
- Avoid sending money until you have independently confirmed the situation.
Romance and friendship scams
You meet someone online and build what feels like a genuine connection. Over time, the person asks for money or encourages you to invest, often in cryptocurrency. This person may be using a false identity to gain your trust.
How to spot the trick
Wanting connection and companionship is natural. Giving yourself time to verify a new online relationship can help you protect both your trust and your finances.
- Talk with someone you trust before sending money to an online connection.
- Avoid sending money or sharing financial information with someone you have only met online.
- Make investment decisions using information from trusted, independent sources rather than an online connection.
- Use care when making plans to meet an online connection, especially if travel or money is involved.
Unmask the scam
When something doesn’t feel right, this quick checklist can help you decide what to do next.
- Does something about this request feel unusual?
- Am I being pressured to act immediately?
- Am I being threatened with serious consequences?
- Does the offer seem too good to be true?
- Am I being asked for personal or financial information?
- Am I being asked to click an unexpected link?
- Am I being asked to send money through gift cards, cryptocurrency, wire transfers, or another difficult-to-reverse payment method?
If you answer yes to any of these questions, remember three simple steps.
- Stop: Give yourself time before responding, sharing information, or sending money.
- Check: Verify the request independently using contact information you trust.
- Contact: If your money, personal information, or account may be at risk, reach out for help as soon as possible.
Taking a few extra minutes to verify a request can help you make your next move with confidence.
Support can make scams less scary
You don’t have to handle a suspicious situation alone. If something doesn’t feel right, take time to verify it before you act.
If you think you shared sensitive information or sent money to a scammer, contact our team or report it to us at 800-879-7328 as soon as possible. We can help you review your next steps and take appropriate action to help protect your accounts.
You can also explore our fraud protection resources to learn more about recognizing scams and protecting your finances.
