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What are the common types of scams?
What are the common types of scams?

Scams are deliberately designed to deceive you. If it sounds too good to be true, it probably is. Here are the common types of scams.

Updated over a week ago

The common types of scams include:

SMS & email scams

These involve messages that may include a link to direct you to a fraudulent website or ask you for personal information. Learn more about SMiShing scams.

Online shopping scams

This is when fake websites are set up and deceive people into buying from them. Once an order is placed and payment made, shoppers might receive a fake, inferior product compared to what was promised, or nothing at all.

Remote access scams

This involves a scammer calling you in an attempt to obtain access to your accounts or device, pretending to be from a reputable company.

Investment scams

This is when you’re contacted out of nowhere, either via phone or email, offering the chance to invest in a 'once-in-a-lifetime opportunity'. These scammers may claim to be stock-brokers or portfolio managers and often pressure you to act swiftly. They typically promise high returns with minimal risk, suggesting a highly advantageous deal for you or your business.

Romance & dating scams

This is where scammers create fictitious online personas to attract and gain your trust over time in order to defraud you. They use psychologically controlling and deceitful tactics to establish a seemingly close relationship and may ask for money or gifts under false pretences, such as fabricated emergencies or personal hardships.

Threat & penalty scams

These occur when a scammer uses realistic threatening tactics of penalty or harm to extort money from their victims.

Job scams

This is where a job opportunity appears to require little effort for a high financial reward and promises to make you money quickly. You might be asked to pay an upfront fee in exchange for guaranteed employment. However, after paying the fee, you're unlikely to be paid for any work you complete, and may not receive any job offers.

Tips to protect yourself from scams

Look out for text messages or emails that:

  • Have spelling mistakes and incorrect grammar

  • Have unusual email addresses or URLs that mimic legitimate companies but are slightly modified (e.g. @unloam.com)

  • Include an urgent call to action, such as asking you to unlock or verify an account, or log on and pay immediately

  • Ask you to forward money or claim that you’ve won a prize

Remember, if it looks suspicious, avoid clicking on any links or attachments.

The article does not have regard for the financial situation or needs of any reader and must not be relied upon as financial product advice. As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on this, consider the appropriateness to your circumstances.

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