18 Scams Everyone Should Know and How to Avoid Them

Scams are everywhere, and they’re constantly evolving to trick people out of their money and personal information. From online phishing schemes to fake investment opportunities, it’s easy to fall victim if you’re not careful. Knowing how these scams work and what to look out for can help you stay safe. Here are 18 common scams to watch out for and tips on how to avoid them.

1. Phishing Emails

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Phishing emails are fraudulent attempts to obtain sensitive information by disguising as a trustworthy entity. These emails often urge you to click on a link, leading to a fake website where your personal information is stolen. To avoid this, never click on suspicious links and always verify the email source.

2. Lottery Scams

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Lottery scams lure victims with news of a huge win, but there’s a catch – you must pay a fee to claim your prize. Remember, legitimate lotteries do not ask winners to pay fees upfront. Always be skeptical of unexpected prize notifications, especially if you didn’t enter any contest.

3. Ponzi Schemes

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In a Ponzi scheme, returns are paid to earlier investors using the capital from newer investors. This scam collapses when the flow of new investors dries up. Always research investments thoroughly and be wary of schemes promising high returns with little or no risk.

4. Romance Scams

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Romance scams involve scammers who create fake online profiles to win your affection and then ask for money, often citing emergencies. Avoid sending money or sharing financial details with someone you haven’t met in person.

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5. IRS Impersonation

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Scammers impersonating the IRS may threaten arrest or lawsuit unless immediate payment is made, usually through untraceable methods like gift cards. Know that the IRS will never demand immediate payment or threaten individuals over the phone.

6. Credit Card Skimmers

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Credit card skimmers are devices attached to card readers, like those on ATMs, to steal your card information. To protect yourself, inspect card readers for tampering and cover your hand when entering your PIN.

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7. Job Offer Scams

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Job offer scams trick individuals into believing they’ve landed a job, but they must pay for training or supplies. Legitimate companies do not ask for money from their employees for these purposes. Always research a company before accepting any job offer.

8. Tech Support Scams

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These scams trick individuals into believing their computer is infected with a virus, and they must pay for unnecessary tech support services. Be cautious of unsolicited calls or pop-ups claiming to be tech support.

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9. Fake Charities

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Scammers often exploit tragedies by setting up fake charities. Before donating, verify the charity’s legitimacy through reputable sources like the Better Business Bureau’s Wise Giving Alliance.

10. Mortgage Relief Scams

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In these scams, companies promise to negotiate with your lender for a fee but do nothing. If you’re struggling with mortgage payments, contact your lender directly or seek help from a HUD-approved housing counselor.

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11. Grandparent Scams

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Scammers call elderly individuals, pretending to be a grandchild in distress and needing money. Always verify such claims by contacting other family members before taking any action.

12. Debt Settlement Scams

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These scams promise to negotiate with creditors to reduce your debt but often leave you in a worse financial situation. Seek debt relief advice from reputable non-profit credit counseling organizations.

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13. Online Shopping Scams

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Scammers set up fake websites offering high-demand goods at low prices. Protect yourself by researching the seller and using secure payment methods.

14. Timeshare Scams

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Timeshare scams involve high-pressure sales tactics and promises of great investment opportunities. Remember, timeshares are often difficult to resell and come with hidden costs.

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15. Investment Scams

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Investment scams promise high returns with little risk. Always be cautious and research any investment opportunity thoroughly.

16. Fake Check Scams

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In this scam, you receive a check with instructions to deposit it and wire some of the money back. The check later bounces, leaving you responsible for the full amount. Never wire money based on a check until it has officially cleared, which can take weeks.

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17. Home Repair Scams

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These involve contractors who take advance payments but never complete the work. Always check a contractor’s credentials and get multiple quotes before starting any home repair work.

18. Social Security Scams

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Scammers pretending to be from the Social Security Administration may threaten to suspend your benefits unless you provide personal information or make a payment. Know that the SSA will never threaten you or demand immediate payment.

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