Scams and Fraud — How to Protect Yourself

Scammers don't just target older people. In fact, reports show that young adults are more likely to lose money to a scam than their grandparents. Scammers know you're online, you use payment apps, and you're looking for ways to make money or get cool things. That makes you a prime target. The good news is that their tricks are easy to spot once you know the signs.

Scammers are professionals at tricking people. Their goal is to create a sense of urgency or excitement so you act before you think. Let's look at their playbook so you can stay ahead of the game.The most common scams you'll see are:Phishing: These are fake emails, texts, or direct messages that look like they're from a real company, like a delivery service or a social media platform. They'll say there's a problem with your account and you need to click a link to fix it. That link leads to a fake site designed to steal your password.Social Media Scams: You see these all the time. Fake celebrity giveaways, posts that say "send me 10 units of currency and I'll send you 100 back," or ads for products that are way too cheap. They take your money and you get nothing.Almost every scam uses the s...

Amir, 14, was scrolling through his feed when he saw a post from a popular gaming influencer. The post said: "First 100 people to send my payment account $20 get $200 back! It's a fan appreciation giveaway!" In the comments, two of his friends had already tagged each other, saying they were going to do it. Amir was about to ask his mom for the money when he paused. It felt a little too good to be true. He remembered the red flags. This checked two boxes: urgency and a promise that was unbelievable. Instead of sending money, he sent a screenshot to his older sister. She immediately said it was a scam and that the influencer's account was probably hacked. Amir messaged his friends and they all reported the post together. Realizing how close he came to losing money was a wake-up call.