Being informed of common scamming tactics and red flags to look out for could make all the difference in real time
While hearing of others who got scammed elicits our sympathy, we may also find ourselves smugly thinking, I would never fall for that or They must be super gullible or dumb if that happened to them. The truth is more complex though. The scammers out there are smooth and professional, and even intelligent people fall for their tricks. Being informed of common scamming tactics and red flags to look out for could make all the difference in real time.
A legitimate entity like the IRS, utility company, credit card company, or bank will never ask you to provide sensitive material such as your social security number, bank account information, or pin number over the phone or email.
A strong sense of urgency, (e.g., “If you don’t wire the money in the next ten minutes your account will be shut down”) can indicate foul play. Never make decisions like these on the spot and alone. Nothing needs to happen so fast that there’s no time to call a spouse, a friend, or an advisor.
Scammers may use threats to induce compliance — “If you don’t wire the money now you (or a family member) will be arrested!” They may have done research and use names of family members (or even harness technology to use their real voices) to convince you that they’re serious and authentic.
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