The rise in financial scams and identity theft is alarming. These deceptive acts are not just limited to suspicious emails or unknown websites; they have evolved into more sophisticated forms, appearing in our emails, social media messages, and even phone calls.
Recognising the Signs of a Scam
Unsolicited Contact
One key indicator of a potential scam is unsolicited contact. This involves unexpected communication from someone you do not know, often posing as a representative of a reputable company, financial institution, or government agency.
Phone Calls: Scammers may call unexpectedly, offering exclusive investment opportunities, alerting you to issues with your bank account, or claiming you owe taxes. Remember, legitimate organisations typically do not call customers out of the blue to discuss sensitive matters.
Emails: Scammers often send mass emails mimicking genuine communications, urging you to click a link to resolve an issue or claim a prize. These links can install malware or lead to phishing sites.
Texts: Similar to phishing emails, smishing involves text messages prompting immediate action, such as verifying account information or clicking on suspicious links.
Social Media Messages: Scammers may reach out through social media, using fake profiles or hacked accounts of people you know, with offers or requests for money.
Offers That Are Too Good to Be True or Fear-Based Problems
Scammers create enticing offers or alarming problems to trick you into hasty actions.
High Returns, Low Investment
Scammers promise high returns with little to no risk, often involving “exclusive” investment opportunities. They may urge you to act quickly and send money upfront.
Lottery Wins and Unexpected Inheritances
Notifications of lottery wins or unexpected inheritances, asking for fees to claim the prize, are common scams. Always question such windfalls, especially if you never entered a lottery.
Critical Problems with Your Account or Computer
Scammers may call pretending to be tech support, claiming your computer or account has been hacked. They may ask for remote access to your computer or install malware to capture your personal information.
Warrant for Your Arrests
Scammers may pose as law enforcement, claiming there is a warrant for your arrest and demanding a fine be paid immediately. Authentic police do not contact individuals this way.
Protecting Your Personal and Financial Information
Legitimate organisations never ask for sensitive information through insecure channels. Be cautious with your personal and financial data, and always verify requests through official channels.
High-Pressure Tactics
Scammers use high-pressure tactics to rush you into making decisions. They create a false sense of urgency, exploiting fear and the fear of missing out.
Common Tactics: Phrases like “limited time offer” or “urgent action required” are designed to push you into quick decisions. Recognise these tactics and take time to verify any claims independently.
Poor Grammar and Spelling
Scam communications often contain grammatical mistakes and spelling errors, unlike legitimate communications, which are usually error-free.
Mismatched or Suspicious Links and Email Addresses
Scammers use deceptive links and email addresses. Always inspect email addresses for authenticity and hover over links to check their legitimacy before clicking.
Urgent Calls from Supposed Close Friends or Family
Voice cloning scams use AI technology to mimic the voice of a trusted individual, creating a convincing but fake urgent request for money.
Avoiding Scams
Educate Yourself and Others: Stay informed about common scams and use educational resources to protect yourself and your community.
Secure Your Personal Information: Use strong, unique passwords, enable two-factor authentication, and monitor your accounts regularly.
What to Do If You’ve Been Scammed: Contact your bank or credit card company, report the scam to your local SAPS, protect your personal information, and seek legal advice if necessary.
Conclusion
Recognising and avoiding scams requires vigilance, education, and proactive measures. Stay informed, question suspicious activities, and report scams to protect yourself and your community.
