Scammers continuously refine their scams using tactics that outsmart even the most cautious individuals. According to the Federal Trade Commission data, in 2024 alone, consumers reported losing over $12.5 billion to fraud, a staggering 25% increase from the previous year. Recognizing their tricks can help you protect yourself. Here are some of the most common scams to watch out for.
Deepfake Scams
Scammers now use advanced AI to create fake audio and video messages that mimic trusted voices and appearances. They may impersonate your boss, a celebrity, or even a loved one to request money or sensitive information. These realistic deepfakes make detection challenging.
How to Protect Yourself
Be cautious of unexpected messages or video calls asking for money. If something seems off, verify by contacting the person directly through a trusted phone number. Always trust your instincts.
Phishing Scams
Phishing scams involve scammers sending fake emails or messages that mimic legitimate organizations to trick recipients into sharing personal details or clicking malicious links. With AI, these messages look more convincing. The scammers often create urgency by claiming issues with your bank account or announcing fake prizes.
How to Protect Yourself
Avoid clicking on unexpected email links. If unsure, verify the message by contacting the company directly through its official website or phone number.
Romance Scams
These scams target lonely and vulnerable people. Scammers often use social media or dating apps to build fake relationships over weeks or months, gaining trust before asking for money. They may fabricate stories about working overseas, military service, or urgent family emergencies.
Reports to the FTC reveal the scale of these scams: in 2022, nearly 70,000 people reported losing $1.3 billion to romance scams, with a median loss of $4,400.
How to Protect Yourself
Never send money to someone you haven’t met in person, regardless of how long you’ve known them online. If an online connection asks for financial help, it’s likely a scam.
Fake Social Media Profiles
Fraudsters create fake profiles on social media or messaging platforms, posing as celebrities, businesses, government entities, or even someone you know. They may use official logos or claim fake identities to gain your trust and steal money or personal information.
How to Protect Yourself
Don’t trust anyone asking for money or sensitive details online. Call them directly to verify their identity. Check profiles for signs of fakery, such as a lack of followers, posts, or history.
Job Offer Scams
These scams target job seekers through fake job listings or messages. Posing as recruiters or companies, scammers may request personal information, upfront payments for training, or money for work equipment. When you realize you have been scammed, your money is gone. They often use informal interview methods like messaging apps to hide their identity.
How to Protect Yourself
Avoid any job that asks for upfront payments. Be wary of offers requiring you to purchase equipment. Always research companies thoroughly before sharing personal details. If you encounter a scam, report it to help others avoid similar traps.
Cryptocurrency Scams
Cryptocurrency scams exploit people seeking quick gains. Fraudsters promise high returns, often using fake platforms, impersonating financial advisors, or showcasing fake testimonials and celebrity endorsements.
Losses from cryptocurrency scams surged to over $5.6 billion in 2023—a 45% increase from 2022, according to the FBI’s IC3. Victims may see small early returns but lose significant amounts, as fraudsters vanish with larger investments.
How to Protect Yourself
Be wary of investments that seem too good to be true. Verify claims with trusted financial advisors and avoid platforms or deals that lack credibility.
Tech Support Scams
Fraudsters pose as tech support from trusted companies like Microsoft or Apple, claiming your device is compromised. They persuade victims to pay for unnecessary services or grant remote access. They sometimes use fake “system updates” to install malware.
Millions lose money and data to these scams. Some devices are infected with ransomware, and others are used to steal sensitive information.
How to Protect Yourself
Avoid unsolicited tech support calls or messages. Never grant remote access or make payments without verifying the source. Use official support channels to confirm authenticity.
Fake IRS Scams
During tax season, scammers impersonate the IRS through calls, emails, or texts, claiming you owe money and pressuring you to pay immediately. They may use threats or direct you to fraudulent links. The IRS does not initiate contact through email, text, or social media, nor demand payments via gift or pre-paid cards.
How to Protect Yourself
If you receive a suspicious call, email, or message from someone claiming to be from the IRS, do not respond. Hang up or ignore it, and verify the communication by contacting the IRS directly. Taxpayers can review the IRS payments page at IRS.gov/payments for all legitimate payment methods.
Grandparent Scams
Grandparent scams, also known as “hello bail” scams, manipulate grandparents’ love and concern for their family. Fraudsters pretend to be a distressed grandchild or family member in urgent need of money, claiming they’ve been arrested or in an accident.
The scammers often beg victims to keep the situation secret while pressuring them to act quickly. They avoid identifying themselves, and usually call late at night to exploit confusion or fatigue.
How to Protect Yourself
Stay calm and hang up. Contact your family member to confirm their situation. Be cautious, especially if asked to transfer money under urgent or secretive circumstances.
Easy Task Big Reward Scam
Scammers lure victims by offering simple task-based jobs with promises of high pay, often through e-commerce platforms. They pose as legitimate companies, direct victims to fake portals, and may initially pay small amounts to gain trust.
Over time, they demand deposits for “premium tasks” or cryptocurrency payments, only to disappear with the money. Victims can also lose personal and financial data.
How to Protect Yourself
Avoid jobs that require any payment or account deposits. Verify the legitimacy of companies and report suspicious offers.
Online Shopping Scams
Scammers exploit social media to set up fake online stores advertising heavily discounted products to attract buyers. Victims often receive counterfeit items or nothing at all after making a purchase.
How to Protect Yourself
Watch out for fraud indicators, such as unverified accounts, low-quality product images, and a lack of customer reviews. Stick to trusted retailers and use secure payment methods to safeguard your online shopping experience.
Event-Driven Scams
Scammers target victims by taking advantage of disasters and popular events. They may pose as fake charities after crises, create counterfeit ticket-selling websites for concerts and festivals, or exploit major sports events with fake tickets and contests.
How to Protect Yourself
Before donating, verify charities through trusted platforms. Buy tickets only from authorized sellers or official sites. Avoid social media ads offering suspicious deals or last-minute offers.
