While scams take many shapes and forms, there are usually a few tell-tale signs you should be aware of. For this edition of Fraud Friday at Guthrie County State Bank, we’re breaking down the basics of scam spotting so you can recognize the warning signs before it’s too late.
Out of the Blue
Scammers often just appear, as if out of thin air. In reality, they have been sifting through potential targets, gathering info, and preparing to strike. To you, however, they pop up unexpectedly on your phone through calls, emails, texts or social media messages.
A good rule of thumb here is to simply never respond to unsolicited communications. If you’re unsure whether a call or message is real, do your research. Search for the business or person that’s supposedly contacting you and contact them via their officially listed number. Even if the person pretends to be a friend or someone you know, use contact information you have verified yourself before continuing the conversation.
Looking for Green
Scammers always want the same thing: money — or your personal info that will eventually lead them to money. If you find yourself in communication with a stranger and the conversation turns to money, you should stop talking with them immediately.
In order to get away with their schemes, many scammers get hyper-specific with their preferred methods of payment. They will often suggest you pay with cash, gift cards, wire transfer, crypto, or a payment app. These methods are harder to track, therefore you’re less likely to recover your money.
Red Flags
A few final red flags to be on the lookout for in general when it comes to scams are:
● Urgency – Scammers are masters at creating a sense of urgency in their victims. They don’t want you to have time to think through the situation or do any research. So remember to never give in to these scare tactics. Slow down, be thoughtful, and talk to someone you trust.
● Conflict – Usually a scam involves some sort of conflict. This helps drive that sense of urgency and encourages you to take action. Some common stories scammers sell are: you owe money; a loved one is in an emergency; your computer has a virus. When someone unexpectedly reaches out with a serious issue like this, be wary.
● Snooping – Scammers love to ask questions. They do their best to get as much info out of you as possible. It could even be something as harmless as asking what your childhood pet’s name is — however, this could lead to scammers hacking your accounts through security questions and other personal information. Don’t answer any unsolicited questions. Simply hang up, end the conversation, and report potential scammers to ReportFraud.ftc.gov.
Share this Fraud Friday article with your friends and family to help keep them safe from scams. Join us next Friday for more fraud fighting tips!