Fraudsters use digital channels to reach lots of people quickly with improved cyberscam tactics. Let’s talk about how to spot them, avoid them and report them. Remember, Grow will never ask you to share your PIN or online banking password.

The basics of cyberscams

Cyberscams are any online or digital scams used by fraudsters to gain access to your personal information, accounts, money or resources. These scams can be as simple as getting you to click on a malicious link in an email or as complex as hacking into your computer and extorting you. Any scam conducted through digital channels qualifies as a cyberscam.

Common scams and how to avoid them

Charity scams: Scammers can impersonate charities in an attempt to get your money or personal information, especially after an emergency event. Be extra careful when making donations, and always make sure to visit the organization’s real website directly, rather than clicking links in text messages or emails.

Online shopping scams: These might look like flash sales from your favorite brands, coupon codes you didn’t request or attempts to get you to navigate to an external website. Always research sellers before purchasing from them, and make sure you’re visiting the real company website directly.

Romance scams: These scams involve a fraudster exploiting romantic interest, sometimes laying the groundwork for weeks or months at a time before striking. Be wary of individuals online, and verify their identity by researching them extensively to avoid being duped. Watch out for sudden urgency in requests for money or gift cards, even from someone with whom you’ve built a rapport or relationship over some time.

Friend or family scams: Scammers may pretend to be a relative or friend asking for money, potentially in a dire situation or emergency. Always contact your friend or family member directly to determine if they actually sent you the email or text message, and verify the validity of the situation before you take any action.

Bad news scams: Many scammers send emails or text messages impersonating a bank or government agency, like the IRS, to use fear or intimidation to coerce you into making a payment. Be skeptical of anyone who demands payment on the spot or asks for wire transfers or gift cards. Never send gift cards or wire money to strangers.

Good news scams: On the flip side, scammers can exploit positive emotions too. They may pretend you’ve won a contest and ask you to enter some personal information or click on a link to claim your money. If something seems too good to be true, it’s probably a scam. Unsolicited money showing up out of the blue? Scam.

Weather emergency scams: When bad weather arrives, so do scammers with bad intentions. They might call, text or email you after a storm, offering to remove that tree, fix that pipe or replace that drywall — all without a proper contract and all paid for upfront. No verifiable credentials? No, thanks. For more information, check out this FTC resource.

Cryptocurrency scams: Get-rich-quick crypto schemes are on the rise. Fraudsters will wheedle their way into your trust before proposing a lucrative investment opportunity (which doesn’t exist). Telltale signs of crypto fraud include misspelled URLs of legitimate financial institutions, suspicious apps you can’t verify and “experts” you only ever interact with online.

Additional ways to protect yourself

Keep your computer safe: There’s a lot you can do to protect your technology and devices, including keeping your firewall on, using antivirus software and keeping your software updated. For more details, read the FBI’s Internet Safety: Protect Your Computer guidance.

Use strong, unique passwords: Long passwords that avoid dictionary words and include a mix of characters are the toughest for hackers to crack. Don’t share your passwords with others and avoid saving them in your internet browser. If you need help remembering passwords, consider using reputable password management software that’s highly secure.

Do not open links or attachments from strangers: Links within emails and text messages can contain malware or spyware, which can give hackers access to your personal information. Sometimes, these links are well-disguised, so be sure you’re confident in both the sender and the link itself before clicking.

Monitor your bank accounts and credit reports regularly: Keep an eye out for any unusual activity, and let your lenders know immediately if you suspect fraud. Visit our Credit Education page to learn more about protecting your credit score and how to obtain your free credit report.

Staying educated and reporting fraud

Scammers are always looking for new ways to evolve their scams, and this list isn’t comprehensive. As online scams increase, you’ll want to stay updated about ways to protect yourself. In addition to the tips above, we recommend scamspotter.org and FBI Cybercrime as resources to learn more about avoiding these cyberscams.

Do you believe you’ve been the victim of an online or internet-enabled crime? File a report with the FBI’s Internet Crime Complaint Center (IC3) as soon as possible. Visit ic3.gov for more information, including tips and updates about current crime trends.

For more information about staying safe from fraud, visit growfinancial.org/protectyourself.

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