Types of Internet Scams: Introduction
Technology has opened the door to increasingly new and somewhat complex types of internet scams which rob us of billions every year. We all know that millennials are the most avid users of mobile and internet technology, but does that make them tech savvy? Well, the truth is that millennials are tech dependent, not necessarily tech savvy. This leaves them vulnerable to internet money scams.
Types of Internet Scams: Why are millennials so vulnerable to internet money scams?
According to a survey by Capital One, millennials:
- Have grown up in the sharing economy so they’re just so used to sharing information about their personal lives and their details with friends and people on social media
- Are more likely than other generations to admit they share their PINs with family and friends
- Use their personal information such as their birthday as their PIN
- Share their credit card number over the phone or email
Types of Internet Scams: Millennials are the most vulnerable
Although we can all be suckered in by these types of internet scams, millennials are the most vulnerable because they “live” online. However, the more economically challenging times become, the more vulnerable we all are.
Types of Internet Scams: The 5 internet scams that are the most dangerous to millennials, and the rest of us too!
- Fake job offers: The classic job scams have headlines like “I make thousands of dollars working from home and so can you. All you need is a computer and an internet connection”. “Start your own business from home with no investment. Sign up for training”. When it sounds too good to be true, it generally is. Never send anyone money upfront. Never give out sensitive, personal information.
- Become a mystery shopper: Most mystery shopper scams are cheque scams in disguise. Although there are certainly legitimate jobs for mystery shoppers, beware! Remember, if the opportunity is legitimate you won’t have to pay an application fee or deposit a cheque and wire money on to someone else. Always do your homework and check mysteryshop.org for a list of legitimate companies.
- Shopping online: Although many of us do some of our shopping online, millennials are true online shoppers. The problem is that millennials are so used to shopping online that they don’t look for danger; but the reality is that danger is lurking around the corner of every transaction. Many e-commerce sites look legitimate but are really fake stores.Always check online reviews before doing business with a new company. Otherwise you’ll give scammers your credit card information that can be used to make fraudulent purchases and/or resold. Check your account statements for any errors or fraudulent activity and check your credit score at least once a year.
- Crowd funding: There are so many scams out there about people claiming to be dying of cancer and needing money for treatment, medication or money for their kids, that it’s hard not to be a cynic. Before giving money to any crowd funding campaign, make sure you really check out the people soliciting funds.
- Online demands: Blackmail has found its way into the online world. Millennials are used to using email or text and posting the minutiae of their lives to social medial sites.
Types of Internet Scams: Report internet scams to the police?
All of these online channels are insecure. Remember those sexual images you sent to your boyfriend or girlfriend? They can be used against you and used to extort money from you. As embarrassed as you may be, go to the police to report internet scams. Extortion and blackmail are crimes.
Types of Internet Scams: Have you been a victim of an internet scam?
Have you been a victim of an internet scam and are now experience financial hardship? The Ira Smith Team is here to solve your debt problems no matter the reason. We’re here to help and get you back on solid financial footing Starting Over, Starting Now. We’re just a phone call away.