As technology advances, scammers are also improving their tactics. They are tirelessly finding new ways of exploiting unsuspecting victims, draining them of large sums of money. What makes most scams successful is the skillful manipulation of emotions, where fraudsters take advantage of the victim’s vulnerability and desperation.
It is difficult to point out scam cases as they happen, as they are carefully crafted to seem real. However, there are some common phrases scammers use that are clear red flags, prompting victims to be on the lookout to avoid being manipulated.
“We would like your personal details for verification.”
For this trick to succeed, scammers present themselves as high authority in the relevant fields. They mostly pose as representatives from reputable institutions such as banks or government agencies. They then present a made-up situation to the victim that requires their personal details, such as financial credentials or social security numbers, for security verification, lest the account falls into the wrong hands. The message can imply a sense of urgency and, according to fraudsters, requires immediate attention to prevent security breaches.
If you are not sure about the identity of the person contacting you, look them up on Nuwber first before engaging.
“Make a payment right away. The offer is limited.”
This scam capitalizes on urgency and greed to trick you into making irrational decisions. The scammer usually presents a limited-time offer such as a 50% discount for the next one hour only. The time-sensitive opportunity promises low risk and high returns; any delay would result in a missed opportunity. The victim is likely to act on impulse without thinking through it because of the time pressure.
“Congratulations, the prize is yours.”
This classic scam takes advantage of people’s desire for unexpected wins and gifts. The scammer initiates the conversation by sending their victim a message informing them that they have won a prize or a lottery. It can be anything: from a large sum of money to fully paid vacations.
The fraudster will, however, ask for an upfront payment to cater for the processing fees, taxes, and other related expenses. Alternatively, they might ask for the victim’s financial details to guarantee the safe delivery of the prize, only to empty the account.
“Click on the link for an exclusive deal.”
This scam involves sending links as hyperlinks embedded in messages or emails designed to collect sensitive data like login credentials or install malware on your device. The victim is enticed to click on the link by irresistible offers, exclusive deals, or discounts. Upon clicking the link, they’ll be redirected to a fake website and asked to input their personal details.
“Invest in this new opportunity and enjoy high returns.”
The scam targets victims with an undying urge to make quick returns on investments. They span different fields, such as real estate, cryptocurrency, and stocks. They then prepare a seemingly irresistible investment opportunity with a professional and polished pitch packed with testimonials, visual representations, and glossy charts. Everything is presented strategically to create an illusion of success and legitimacy. Some fraudsters use high-pressure tactics emphasizing immediate action to avoid missing out on the lucrative investment opportunity.
“I am a representative from your bank.”
In this case, scammers will impersonate representatives from well-known banks and financial institutions to gain your trust by prying on the credibility of such organizations. After you let your guard down, the scammer will often fabricate problems like security breaches or suspicious activity in your account.
Prior to presenting you with several possible issues with your account, they will propose a solution. You will be asked to share your personal details like card numbers or online banking login credentials that will eventually be used to access your accounts and drain the funds.
“I am a recovery expert and willing to help you.”
This is a double scam that follows after a big scam. Con artists come in as recovery experts promising to help the victim recover their lost funds from a previous scam. They have fake testimonials from previous recovery cases where they helped get back millions. They exploit emotional distress, vulnerability, and desperation of people who have suffered a great loss. To enjoy these exclusive services, the victim is requested to pay upfront fees but will never hear from them again.
“Your device is infected with a virus, but I can fix it for you.”
This is a tech support scam where fraudsters pose as tech support representatives for famous companies like Microsoft and Samsung. They initiate contact through calls to inform the victim that their device has an issue that needs urgent fixing. They also use pop-up messages on websites suggesting a virus infection.
In general, they request sensitive information to fix the non-existent problem virtually. They then use these details to install a virus that blocks out the victim’s access to the device and demand a ransom.
“Pay your owed taxes now or face the legal consequences.”
Tax-related scams are carefully executed by impersonating IRS officials or other government authorities. The scam works by invoking fear and urgency. Con artists reach out through unsolicited emails, calls, and texts requesting their victims to settle their debts or face legal repercussions such as arrest, deportation, etc.
To intimidate their victims, scammers use aggressive language and threats, demanding immediate payments through wire transfers, prepaid cards, or untraceable cryptocurrency.
“I need help with a personal issue. Please send me some money.”
Romantic scammers are known to use this trick of exploiting people’s compassion and empathy. They often deploy emotional stories to manipulate their victims. The stories often involve accidents, health emergencies, and other distressing situations that trigger empathetic emotions.
Scammers also discourage their victims from consulting with close relatives about the said situation. After they manage to squeeze some money from you, they will block you and disappear.
Conclusion
Scammers usually never directly plead for cash. However, they create situations that are sure to catch the attention of their victims and trick them into handing it over deliberately. Therefore, knowing about the above phrases is the first line of defense against a potential scam.
It also helps to be vigilant and look for more warning signs pointing to a fraudulent activity. With the right information, it is possible to safeguard your personal data and finances from cybercriminals.