It’s that time of the year when we promise ourselves better habits: hitting the gym, eating clean, and avoiding internet scams. While we can’t make you go jogging, we can definitely help with the last part. Let’s look at how scammers are scheming and what you can do to stay one step ahead.
The BBB’s Scam Tracker Risk Report revealed that investment and cryptocurrency scams are the riskiest for consumers in 2024, followed by employment and online purchase scams. Online scams of all kinds made up nearly 70% of reports, with social media scams surging by 56% over the past year.
How It Works
Scammers are becoming more sophisticated, using social media ads, fake investment opportunities, and phishing schemes to trick people into handing over money or sensitive information. Many of these scams create urgency—think “limited-time investment opportunity” or “you’ve won a prize!”
Who’s Targeted?
- Online Shoppers: Especially those lured by deals on social media.
- Investors: People looking to grow wealth through cryptocurrency.
- Job Seekers: Scammers offer fake opportunities with upfront “training fees.”
Real-Life Example
Consider Samantha, who spotted a Facebook ad for discounted designer shoes. She ordered from what appeared to be a legitimate website but never received her purchase. Worse, her credit card was used for unauthorized transactions.
Impact and Risks
Why You Should Care
- Financial Losses: Scams like these drain savings and rack up credit card charges.
- Data Theft: Personal information stolen during scams can be used for identity theft.
- Emotional Stress: Victims often feel embarrassed or shaken, making them hesitant to report incidents.
How to Protect Yourself
- Research Before You Buy: Always check retailers on BBB.org, especially unfamiliar ones. Verify websites for security (look for the padlock symbol and “https://”).
- Be Wary of Urgency: Scammers thrive on making you act quickly. Pause and think before clicking.
- Don’t Send Money to Strangers: No matter how convincing they sound, avoid sending money to people you’ve never met in person.
- Strengthen Online Security: Use strong, unique passwords and two-factor authentication to safeguard accounts.
- Stay Social Media Smart: Adjust privacy settings, verify accounts, and avoid clicking on suspicious ads.
Quick Tips & Updates
- Quick Tip #1: "Did you know? More than 70% of scams reported last year were tied to online activity. Stay cautious when making digital transactions."
- Quick Tip #2: "Pro Tip: Always ask yourself, ‘Would a legitimate business ask for this?’ If the answer is no, it’s likely a scam."
As the BBB advises, “Check and double-check before committing your money online.” By staying vigilant and sharing knowledge, we can keep the new year free of scam-induced headaches. Let’s make 2024 a safe and prosperous year for all.
Key Terms Explained
- Phishing: A method where scammers use fake emails or messages to steal sensitive information.
- Two-Factor Authentication (2FA): An added layer of security requiring two steps to access an account.
- BBB (Better Business Bureau): A nonprofit organization focused on advancing trust in the marketplace.
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