Scammers Gain Traction, How to Stay Safe
In a digitally dominated world, it’s easier than ever to fall victim to fake jobs and money-making schemes. Scammers use social media platforms like TikTok, Instagram, and WeChat to lure and entrap the misinformed bunch.
Speakers
- Kathleen Daffan, Assistant Director, Division of Marketing Practices, Federal Trade Commission
- Rosario Mendez, Attorney, Consumer & Business Education, Federal Trade Commission
- A story teller
The Federal Trade Commission (FTC) has reported that in just the first half of 2023, they received more than 26,000 fraud reports related to business and job scams. In a media briefing hosted by Ethnic Media Services on August 9th, a panel of experts come together to shed light on this growing problem.
How They Work
To prevent from one becoming their next prey, they must have an adequate understanding of how they operate. According to the FTC, scammers often use tactics like promising high-paying jobs with little to no experience required, asking for upfront payments or personal information, and using fake testimonials or endorsements to make their offers seem more legitimate. In layman’s lingo, if it seems to be too good to be true, then it’s probably too good to be true.
Do Your Research
Knowledge of the problem is the best way to face it. Doing some background checks and research will give a solid base for determining if it is a scam. For example, before accepting any job or investment opportunity, take the time to research the company and the people behind it. Reviews and testimonials from other people who have worked with the company in the past is a great sign. If you can’t find any information about the company online, that’s a red flag.
Lookout for Scammers
Be cautious about sharing personal information. Scammers often ask for personal information like your social security number or bank account information as part of their scams. If someone is asking that almost immediately with no ethos establish, it’s not a great idea to give out such sensitive information about yourself. Never give out this information unless you’re sure that the person or company you’re dealing with is legitimate.
The FTC discussed the importance of being vigilant when it comes to fake jobs and money-making schemes. Scammers are using social media platforms to target vulnerable populations, not discriminating against immigrants and people who are struggling financially. Be aware of these tactics and keep yourself on your toes about these red flags.
Stay Informed
The latest and greatest scams are outlined in FTC’s consumer alerts, which is a great resource. But you should also return the favor by reporting any scams or suspicious activity to the FTC. The FTC relies on reports from consumers to identify and shut down scams. If you suspect that you’ve been the victim of a scam, or if you’ve encountered suspicious activity, report it to the FTC immediately. The FTC has a complaint assistant tool on its website that makes it easy to report scams and fraud. By reporting these scams you are helping to protect others, so give yourself a pat on the back.
With a growing digital footprint, scammers have gained more traction and are coming in full force. Scammers use common social media platforms and reach out to those more vulnerable than others. Being aware of these tactics and taking steps to protect yourself is step number one. By doing your research, being cautious about sharing personal information, staying informed about the latest scams, and reporting any suspicious activity to the FTC, both you and the entire internet user are protected. If something seems too good to be true, it probably is. Stay safe and happy surfing.
