Every year, millions of reports of fraud are filed, while even more cases of fraud go unreported due to a multitude of factors. There’s no way to be sure how much money is lost yearly to fraud, scams, and spam, either. However, for perspective, American consumers lost about $56 Billion to identity fraud in 2020. Nobody is immune to a conman, and oftentimes, by the time you start to have second thoughts, you’ve already wired the money somewhere.
Here are three huge indicators that you may be dealing with something you need to reconsider, before you pay a price.
1. An emotional appeal to action:
Sound like a marketing tactic? Well, sorry to tell you, but it is. Unfortunately, it’s also very common in many modern sophisticated forms of fraud you’ll find online. You may get a message from the “IRS” saying that they’re all set to begin repossession, but if there’s an issue, call back in the next 30 minutes. Likewise, you may get a message saying you won the lottery, and you’ll never have to work again, but they need to hear from you in the next 20 minutes or less.
These tactics are only so effective because by going along with them, you’re buying into the fantasy being sold to you against better judgement. If you allow your emotions, good or bad, to control your patterns of behaviour, you’ll continually give these thieves what they want (your money).
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2. An unexpected communication, which immediately turns into a line of questioning, seeking to extract information:
Sometimes, the government, or the bank, or your doctor will need some information they don’t already have on file. Heck, sometimes they’ll even call you to get the information they don’t have! You’re totally allowed to ask questions, though. If they don’t seem inclined to answer them, by all means, hang up and go to a local branch. Or call your personal agent / representative. With communications that are probing for information, generally, they will incessantly talk at you, to prevent you from regaining control of your thoughts or the conversation.
3. Basically anybody asking you to wire money. Any money. Really, nobody does that anymore (did they ever?)
In case the previous text isn’t clear enough, do not wire any money to anybody if you weren’t already planning on it. It will never be seen again, they will disappear the moment you’re not gonna keep paying them, and you will have a bad day!
Thank you for reading, and we hope that these tips prompt you to beef up your defense against evil-doers everywhere! Although anyone can become a victim, the elderly are especially vulnerable to scams. If you believe that you or your parent have fallen victim to a scam, please report it to your local police department.
The Internet Patrol is completely free, and reader-supported. Your tips via CashApp, Venmo, or Paypal are appreciated! Receipts will come from ISIPP.
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