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Online scammers create new and deceptive schemes every day in hopes of swindling unsuspecting victims out of their time, money, and resources. Consumers reported $5.8 billion in fraud to the Federal Trade Commission last year, a 70 percent increase from 2020, and much of that can be attributed to online scams.
According to security company Lookout, here are some of the trending online scams:
Four Online Scams To Watch Out For
Romance Meets Cryptocurrency
In 2021, online daters lost a record $547 million to romance online scams, according to a report from the Federal Trade Commission. Scammers are now using online dating platforms to trick victims into investing in cryptocurrency accounts before disappearing with their money. It’s a months-long trust-building scam known as “pig butchering.”
Sim Swapping
This is an attack where scammers fake your identity with a mobile carrier to gain access to your phone. From there, they use “Forgot Password” for critical online accounts – think banking, investments, and social media – to intercept two-factor authentication text messages. In 2021, this scam resulted in over $68 million in losses and is still a very popular and effective scam today.
Back To School Scams
In August, many parents post “the first day of school” photos on social media with their child holding a chalkboard or sign with details about the child’s teacher, school, birth date, height, interests, favorite colors, etc. While it’s wonderful to share…
