Simple Steps to Avoid the Most Common Scams

Scams are surprisingly common, and they often target people who may not be familiar with the signs of a scam. Scammers can trick people into giving them money, access to personal finances, or sharing sensitive information. They often target individuals who may be more trusting of scammers posing as figures of authority.

To help people spot scams, PayPal collaborated with Code Ninjas. Code Ninjas is an educational organization that teaches kids to code and develops skills to create innovative solutions to real-world problems.

Let’s explore some common scams. Keep in mind that these scams occur more frequently during high-shopping seasons or holidays.

Vishing scams

In this scam, you’ll usually receive a phone call from an individual impersonating a bank or a government agency, such as the IRS. They’ll fabricate a scenario to compel you to disclose sensitive personal information, including your bank account and routing numbers, or your Social Security number. They’ll employ pressure tactics, such as threatening you with immediate arrest for unpaid taxes or fraud, to instill fear and create a sense of urgency, making you feel compelled to act swiftly.

If you receive a call from an unfamiliar number, the safest course of action is to refrain from picking it up. This prevents them from flagging you as an “impressionable” individual, potentially leading to continued calls. If you do decide to answer the call, you have the option to hang up at any time. Remember, you are not obligated to engage in conversations with scammers!

Online ad scams

You might encounter ads for luxurious items like gaming consoles, designer clothing, or even furniture with prices that appear too good to be true. These scams often employ tactics to deceive you, claiming that these prices are limited-time offers and that you have a limited time to complete the purchase.

To avoid falling victim to these scams, it’s crucial to prioritize shopping from reputable and well-known stores. If you notice any misspellings in a product description or a URL address that you don’t recognize, it’s advisable to exercise caution and explore alternative options. Additionally, to verify the authenticity of a sale, instead of clicking on a suspicious link, navigate directly to the store’s official website for verification.

Safe account scams

With these types of scams, you might receive a text message, email, or phone call from someone claiming to be from your bank or another financial services provider. They assert that your accounts have been compromised and urge you to transfer your money to a “safe” account they’ll provide.

Similar to vishing attempts, these scammers impersonate bank officials to instill fear and prompt hasty action without proper consideration. Banks never initiate calls to request personal information or transfer funds. If you receive such a call, hang up immediately. If you have any doubts about your account’s security, contact the number on the back of your credit or debit card, your statement, or speak with an actual representative to seek clarification and assistance.

Fake tech support scams

You might receive a message or email from someone impersonating a representative from well-known tech companies. They may claim that there’s an issue with your device and request remote access to resolve it. They might deceive you by convincing you that common computer errors are severe problems that require their expertise to fix.

Computer or software companies won’t initiate contact to inform you about any problems. They won’t ask you to call a number and pay for any “antivirus” services. Instead, if you’re concerned about your computer, seek assistance from a reputable tech support company or a trusted relative or friend.

Staying safe online

To stay safe from scams, learn about PayPal’s security measures and keep these three things in mind:

• Be wary of unsolicited calls, especially from those claiming to be from government or financial institutions.
• Be careful with deals and offers that seem too good to be true.
• Take your time and don’t feel pressured or scared into making quick decisions.