Recognizing these common signs of a scam could help you avoid one. Learn about "5 Ps" that raise red flags a scammer may be trying to compromise your personal information or finances.
1. Scammers PRETEND to be from an organization you know.
Scammers often pretend to be contacting you on behalf of the government (think Social Security, IRS, local law enforcement, etc.) or business you know, like a utility, tech company, bank, or even a charity or non-profit organization asking for support.
They use technology to change the phone number that appears on your caller ID, also called spoofing. Be aware that the number you see can't always be trusted.
2. Scammers say there’s a PROBLEM or a PRIZE.
Common problems they may falsely alert you to are that you’re in trouble with the government, owe money, someone in your family was in an emergency, or that your computer or account has been compromised. An increasingly popular tactic is stating there is a problem with one of your financial accounts and you need to verify information to unlock it. Others will lie and say you won prize money in a lottery or sweepstakes but have to pay a fee to get it.
Remember that honest organizations won’t call, email, or text to ask for your personal information, like your Social Security, bank account, or credit card numbers. Don't give your personal or financial information in response to a request that you didn't expect.
3. Scammers PRESSURE you to act immediately.
Scammers want to pressure you to act before you have time to think. If you’re on the phone, they might tell you not to hang up so you can’t check out their story. They might threaten to arrest you, sue you, take away your driver’s or business license, or deport you. They might say your computer is about to be corrupted.
Honest businesses will give you time to make a decision. Anyone who pressures you to pay or give them your personal information is a scammer. Resist the pressure to act immediately. When in doubt, stop and talk to someone you trust.
4. Scammers tell you to PAY in a specific way.
They often insist that you can only pay by using cryptocurrency, via wire, or through a company like MoneyGram or Western Union, using a payment app, or putting money on a gift card and then giving them the numbers on the back of the card. Some will send you a check (that will later turn out to be fake), then tell you to deposit it and send them money.
Be aware of risky payment methods that offer no way to track them. Never pay someone who insists that you can only pay with their preferred payment method.
Source: Federal Trade Commission
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