Scammers are getting more sophisticated with their scams, thanks to tech innovations and well-designed websites. It has become easier for them to manipulate their targets through fast money-making schemes. Innocent people are not only duped out of their money but also end up sharing their personal and confidential information that can be used against them. Here are a few popular types of scams that people should not fall prey to:

1. Work-from-home scams
In 2022 alone, almost 100,000 people across the country were victims of job-related scams. On average, each individual lost up to $200. One such scam is the work-from-home one that involves people receiving emails, text messages, or advertisements about “online jobs” available. In most cases, these job openings are bait for unsuspecting people who are looking for employment. When people click on the link to apply for these vacancies, they are asked to provide personal information and money for the recruitment process. Once people make the payment and give away their personal information, scammers dupe them and escape with their money.

Three common types of work-from-home scams are identity theft, financial scams, and manipulative scams. In identity theft scams, applicants are made to reveal their personally identifiable information (PII). Financial scams involve applicants paying for the supposed equipment purchases or interview fees. In manipulative scams, applicants are made to perform illegal tasks. The only way to avoid falling for such scams is to check the credibility of the “employer” online before applying for open vacancies.

2. Pyramid scheme scams
Pyramid scheme scams are designed to make people participate in multilevel marketing activities to make quick money. Additionally, such people are encouraged to convince their friends to join the activity as well. Ultimately, all the participants end up losing their money through this scam.

Generally, these plans promise huge profits to participants for recruiting more and more members. In many instances, members may even make some money, but they lose larger amounts in fees and their vital personal information.

People must know that pyramids are often disguised as “gifting clubs.” New joiners are convinced to pay money to old joints. In return, the latter are promised money from newer joinees, and the cycle continues. Pyramid schemes often demand participants sell products and services to customers. Businesses need these products and services to sell repeatedly; otherwise, they cannot sustain themselves.

3. Investment scams
These are the age-old “get rich fast by putting money in XYZ investment avenue” scams. Fraudsters successfully convince vulnerable investors to put their money in bogus schemes. Such schemes are advertised as having no risks or problems whatsoever. Once the money is invested, the fraudsters escape, while the investors are made to believe they suffered a loss.
Such scams are relatively easy to avoid. No investment scheme is completely devoid of risks. People must realize that before putting their money into dubious “get rich” schemes. Also, individuals need to get an official written statement that acts as the transaction receipt before investing. This receipt can be used as proof in a court of law. Additionally, one should stay clear of investment options that promise double-digit growth in double-quick time.