Posted On: December 4, 2024 by The Peoples Community Bank in: Fraud
By: Candi Huebner - VP - Compliance
Let’s talk about scams you need to watch out for. The Better Business Bureau (BBB) is keeping tabs on the biggest ones through their Scam Tracker and they’ve ranked the top scams that everyone should know about. At the top? Investment scams and job offer scams —but that’s just the start.
Scams You Need to Know About
Investment Scams
These are #1 right now. Scammers trick people into putting money into fake investments like real estate, new business ideas, or reaching out to ask you to invest in cryptocurrency.
- Tip: Don’t invest in anything without doing a ton of research. If it feels sketchy, it probably is.
Job Offer Scams
These are the second most common. Scammers pretend to offer jobs but really just want your personal info or money.
- Tip: Be extra cautious with online job offers. If they’re asking for upfront payments or sensitive details, it’s a red flag. Another red flag is if they send you a check for “supplies” and then turn-around and ask you to send back part of the check to them.
Online Purchase Scams
Have you ever bought something online and never got it? Or, maybe what you got wasn’t what you ordered? This is called a brushing scam — scammers use fake orders to write reviews using your name. It’s common on sites like Amazon and Temu.
- Tip: Stick to trusted sellers, and don’t give glowing reviews unless you’ve actually bought something legit.
Other scams to keep on your radar:
- Romance Scams: Someone pretends to love you to steal your money.
- Credit/Debt Scams: Fake help with credit or debt.
- Home Improvement Scams: Fake contractors take your money and ghost.
- Advance Fee Scams: Paying upfront for things that don’t happen.
- Tech Support Scams: Fake help for computer or phone “issues.”
- Travel/Vacation Scams: Too-good-to-be-true deals on trips or timeshares.
Here are some Scary Stats:
- In 2023, 80% of people targeted by investment scams lost money.
- For job scams, the median amount stolen went up 33%, from $1,500 in 2022 to $1,995 in 2023.
- The good news? The median loss for online shopping scams dropped from $100 to $71.
Who’s Getting Hit?
Scammers don’t care about age, but trends show:
- Ages 25–34: More likely to fall for job scams.
- Ages 50+: More likely to fall for investment scams.
- Everyone in between? You’re not safe either, so stay alert!
How to Protect Yourself
- If it sounds too good to be true, it probably is.
- Never share personal info unless you’re sure it’s legit.
- Do your research before sending money, accepting job offers, or clicking on links.
- Trust your instincts—if something feels off, it’s worth double-checking.
- Use a credit card instead of a debit card for online or high-risk purchases, as credit cards have stronger protections against fraud. Unlike credit cards, debit cards directly withdraw funds from your account
- Verify the legitimacy of sellers before authorizing payments.
- Be wary of purchasing an item and the supposed merchant only accepts direct P2P (person to person) payment. A legitimate business would almost always have a merchant account to accept a credit card.
What If You Get Scammed?
- Give the bank a call quickly. Share with them the transaction details like the date, amount, and merchant name.
- Report it to the BBB using their **Scam Tracker** on their website. It helps others avoid the same traps. https://www.bbb.org/scamtracker
- Depending on the scam, you may want to file a police report
Stay sharp — scammers are everywhere, but knowing what to look for can keep you safe.
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