There’s a lot of scams out there, and they’ve only increased in the digital age. What once was a handful of fraudsters trying to one up anyone they could get ahold of in person is now teams of tech savvy individuals and complex algorithms designed to drain finances and steal critical personal information.
It can be scary to think about all the nefarious scam attempts out there, but luckily you can take measures to protect your identity and your finances. Here are just a few tips on how you can best protect yourself from scams and fraudsters.
How to avoid employment scams
1. Be careful with unsolicited offers
Scams often start in the form of an unsolicited offer, whether that be a job offer through an email, a text on social media offering money and prizes, or a request to invest in cryptocurrency from a stranger online. More often than not, these types of offers are completely bogus and will only cause you stress and heartache if you engage.
Never respond to any sort of job offer or investment opportunity if it comes completely unexpected or from a total stranger. Employers will almost never offer high paying positions to those who don’t go through the proper application process and any other kind of offers usually end the same way. Basically, if you’re not expecting it, don’t engage with it.
2. Talk over potential opportunities with family and loved ones
When you receive an offer to invest in a risky upstart or win a contest you don’t even remember entering, it can feel like quite a rush and you may not give it the critical thinking you normally would. This is why it’s important to share any potential opportunities, whether they be scams or not, with friends and loved ones.
Getting an outside perspective and putting another set of eyes on the situation can reveal telling details you may have missed. Additionally, if you know someone who has some expertise in the subject or has even fallen victim to an employment scam themselves, they can let you know if they see any troubling signs or are even familiar with the specific scam.
3. Keep your personal information safe
No matter who you are, your identity is the most valuable thing you own. Information, such as your full legal name, bank account logins, bank card numbers, and most of all your social security number, are invaluable resources that many nefarious parties can try to get their hands on. With this information, fraudsters can take out loans in your name, claim your dependents on their taxes, drain your bank account, and potentially use your identity to commit more financial crimes.
That’s why it’s important to keep any information regarding your personal identity safe and secure. If you can, try to memorize your social security number and make sure you never keep the card in your wallet or on your person at all times. It’s recommended to keep it at home somewhere safe. Additionally, make sure you create secure passwords for all your other information and never give out anything casually or where others can overhear.
4. Research any opportunities
Even if you’re sure it’s not a scam or fraud attempt, it’s always important to do thorough research on any offers or opportunities you receive. It’s very unlikely that you are the first person to be approached using a specific scam technique, so it’s probable that information on what red flags to look out for and what people our businesses to avoid is out there.
Scamsters will often use templates and certain key phrases when attempting to get your information, so you can usually find out if something that seems suspicious truly is nefarious simply by typing what they say word for word in a search engine, like Google. Additionally, make sure whoever is contacting you has a legitimate presence online that can be verified.
5. Be wary when using public WiFi
Public wifi is a nice luxury, though it can also come with its own set of risks. Networks often have minimal security, and it’s possible for hackers and fraudsters to get into the information of anyone who uses a particular network.
For this reason, it’s recommended to never conduct any business regarding your finances or identity on public wifi. Rather, you should wait until you are in your home or workplace to do such activities or use mobile data. If you find yourself in a situation where you absolutely need to use public wifi to pay a bill or check your finances, only do so if you have 2 factor authentication enabled.
6. Check accounts regularly
Simply being aware of your current financial situation can be a big help in mitigating the effects of a scam. If you keep a close eye on any bank accounts, financial records, and personal info usage, you increase your chance of catching anything early and mitigating the damage.
It’s recommended that you check your bank accounts once per day to make sure that all purchases are your own and nothing nefarious is afoot. Fraudsters who steal bank information will often start by making relatively small purchases, in order to make sure that the account they are stealing from is legit and has money, before starting to make bigger purchases. If you keep an eye on your accounts and report any suspicious charges right away, you can prevent any further damage from occurring.
7. Don’t gamble more than you’re willing to lose
Whether you’re conducting business online or at a poker table, it’s always a good idea to remain cautious and imagine yourself losing whatever amount of money you are about to gamble. This way you are more careful with the funds you have and won’t be completely ruined if things don’t go according to plan.
This is especially true when dealing with potential scams. Even if an offer for an investment is legit, if they are asking for $2000 and losing that amount would severely affect your life in a negative way, then don’t take the gamble. The worst case scenario is always a possibility, no matter how small.
8. Take time to review any offers
As stated with tip number 2, receiving an exciting financial offer can be quite the rush and may affect your ability to see any red flags, no matter how obvious they seem in hindsight. This is why it’s important to give new opportunities time to simmer in your mind, giving you time to calm down and be in a better mental state to evaluate the situation.
Additionally, scammers and fraudsters tend to be impatient and try to coax you into giving up your personal information right away. If someone is pressuring you to invest or give up any sensitive information and won’t wait, then it’s likely that they don’t have the best of intentions.
9. Use an identity protection service and anti-virus
While not entirely necessary in order to protect your finances and identity, it may be helpful to subscribe to one of the many identity protection services currently on the market. While your own judgment and support system is the best line of defence you have against scams, sometimes it can only go so far and you may want 24 hour protection.
Be careful and do thorough research when signing up for a service like these, however, as there are fake or spoofed services out there that look just like a proper identity protection service, but are in fact fraudsters looking to steal the very information you were seeking to protect. At the very least it is recommended that you install a good antivirus software on your devices, as valuable information can be and has been stolen through malware attacks.
10. Trust your instinct
The best line of defence you have against scams, fraudsters, and other nefarious plots is your own judgment. Always keep in mind that if something feels suspicious or too good to be true then it likely is. Additionally, conduct your own research on every opportunity you may receive and talk it over with loved ones who may be an expert in the field.
Conclusion
While these tips can help to greatly reduce the likelihood of you falling victim to an employment scam attempt, it’s important to keep in mind that sometimes you can take every measure to be safe and still find yourself becoming a victim. In this scenario, try to remember that these things do still happen and that it’s never your fault.
If you do become a victim then you should report the scam to the proper authorities as soon as possible. You may not be able to get your finances back in order just by doing this, but you can help to bring the fraudsters to justice and prevent others from being victimized as well.
