Beware of Rising Scams: Staying Informed and Seeking Assistance with ScamHelp
Our team of anti-fraud specialists at ScamHelp has prepared this article to raise awareness about the rising scams. We aim to highlight both the common scams that have persisted over time and those that have evolved while maintaining the same underlying themes. If you require any assistance in preventing scams or recovering funds, please don’t hesitate to contact us. We are committed to connecting you with an anti-fraud specialist who can provide the necessary support.
2023’s Rising Scams: Stay Informed and Protected
The year 2023 is predicted to be marked by an increased number of scams, driven by the economic recession and the proliferation of faster payments. These scams, which can range from social media and investment scams to insider recruitment, can lead to unauthorized card fraud, as well as Authorised Push Payment fraud or APP fraud. To combat these risks, financial institutions (FIs) will have to adopt a three-pronged approach to calculate the total cost of fraud, incorporating technology, processes, and people. The use of Machine Learning and Artificial Intelligence is expected to increase, with over 70% of FIs planning to improve their existing solutions to combat fraud in the next six to 12 months. Deep Learning techniques, such as Automated Deep Behavioral Networks, are becoming more efficient in their data acquisition costs and system integrations to optimize fraud strategies. This technology will also aid in transforming FIs’ fraud and financial crime prevention strategies. The Payment Systems Regulator is focusing on scams, while the Consumer Financial Protection Bureau is proposing amendments to the Electronic Fund Transfer Acts in the United States. FIs must adopt fraud detection and prevention solutions and get ahead of criminals and regulation to reduce the impact of these changes. As technology continues to evolve, so do the tactics of scammers who seek to defraud innocent people. From phishing emails to fraudulent phone calls, scammers are getting smarter and more sophisticated in their approach. In this article, we will discuss some of the common techniques used by scammers and provide tips on how to stay one step ahead.
Emerging Scams of 2023: Protect Yourself with Expert Tips
Payday loan scam:
Exploiting the financial struggles faced by many, scammers offer fake payday loans, promising to help individuals settle their bills. Victims are asked to prepay a fee, only to find that their money vanishes into the pockets of these criminals, leaving them with nothing in return.
To stay safe, be wary of any lender asking for loan fees to be paid using non-traceable forms of payment, such as gift cards. Legitimate lenders typically do not require such upfront fees.
Check washing scam:
Despite the shift towards digital transactions, scammers still exploit checks through a technique known as “check washing.” They steal checks from mailboxes and erase the original information using household chemicals, enabling them to fill in new details and potentially convert a small check into a substantial amount. To stay safe, deposit outgoing mail in blue collection boxes before the last pickup to minimize the chances of theft. Avoid leaving mail in your own mailbox overnight, and consider having your mail held.
Student loan forgiveness scam:
Despite the uncertain future of the Biden administration’s student loan forgiveness plan, scammers seize the opportunity to defraud individuals who may be unaware of its status. These fraudsters create phony application sites to steal Social Security numbers and bank information, often charging fees for their fraudulent services. To stay safe, rely on official sources such as the Department of Education’s student aid website for accurate information on student loan forgiveness programs.
One-time password (OTP) bot scam:
Utilizing automated programs known as bots, scammers deceive individuals by posing as financial institutions or popular companies like Amazon. They contact victims, requesting two-factor authentication codes sent via text or email. These codes, meant for security purposes, are instead used by the bots to gain access to victims’ bank accounts.
To stay safe, never share your authentication codes or any personal information in response to unsolicited phone calls or text messages. Authentic communication from financial institutions should never ask for such details.
Common Scams:
Phishing Scams –
Phishing scams are one of the most common types of scams. They involve the use of fraudulent emails, text messages, or phone calls to trick individuals into providing personal information such as login credentials or credit card details.
Tech Support Scams –
Tech support scams involve fraudsters posing as technical support representatives for popular companies such as Microsoft or Apple. They may contact individuals through phone calls or pop-up messages, claiming that their computer has been infected with a virus and offering to fix it for a fee.
Fake Charities –
Scammers may create fake charities, particularly in the wake of natural disasters or emergencies, to solicit donations from unsuspecting individuals. They may use names that sound legitimate and create websites or social media pages to give the impression that they are a genuine organization.
Tips to Stay Ahead of Scammers:
Be wary of unsolicited emails, texts, or phone calls – If you receive a message or call from someone you don’t know, be cautious. Don’t provide any personal information until you are certain that the request is legitimate.
Verify the identity of the caller –
If you receive a call from someone claiming to be a representative of a company, ask for their name and contact information. Then, verify their identity by calling the company directly or checking their website.
Keep your software up to date –
Regularly update your software, including your operating system and antivirus programs, to ensure that you are protected against the latest threats.
Use strong passwords –
Use complex passwords and avoid using the same password across multiple accounts. Consider using a password manager to help you generate and remember secure passwords.
Be cautious when donating to charities –
Do your research before donating to a charity. Verify that the organization is legitimate by checking their website or contacting them directly.
“Staying Ahead of Scammers: Protect Yourself and Recover Funds with Scamhelp’s Anti-Fraud Specialists“
Scammers are becoming more sophisticated in their approach, but by being vigilant and following the tips outlined above, you can stay one step ahead. Remember to always be cautious when providing personal information, verify the identity of the caller or sender, and keep your software up to date. By staying informed and taking proactive steps to protect yourself, you can reduce your risk of falling victim to a scam. In the unfortunate event that you do fall victim to a scam, it’s important to know that you’re not alone. Scamhelp’s team of anti-fraud specialists is dedicated to helping individuals like you recover their funds and navigate the aftermath of a scam. With their expertise and experience, they can assess your case, gather relevant information, and develop a custom-tailored plan to help you recover your funds.
When you reach out to Scamhelp, their anti-fraud specialists will work closely with you, providing guidance and support throughout the recovery process. They understand the complexities of different scams and the tactics employed by scammers, allowing them to develop effective strategies to maximize the chances of fund recovery.
Additionally, Scamhelp’s team can assist you in reporting the scam to the appropriate authorities, providing them with valuable information that can contribute to the fight against fraud. They can also help you implement preventive measures to safeguard your personal and financial information from future scams.
It’s important to remember that time is of the essence when dealing with scams. The sooner you seek assistance, the higher the likelihood of recovering your funds. So, if you’ve been scammed or suspect fraudulent activity, don’t hesitate to reach out to Scamhelp’s team of anti-fraud specialists. They are dedicated to helping individuals like you regain control and financial security in the face of scams.
Our team of anti-fraud specialists at ScamHelp has prepared this article to raise awareness about the rising scams. We aim to highlight both the common scams that have persisted over time and those that have evolved while maintaining the same underlying themes. If you require any assistance in preventing scams or recovering funds, please don’t hesitate to contact us. We are committed to connecting you with an anti-fraud specialist who can provide the necessary support.
