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Common Fraud & Scam Tactics

Scammers are constantly finding new ways to trick individuals into sharing personal information or sending money.  Whether through emails, phone calls, social media, or fake websites, these scammers often pose as trusted organizations or individuals to create a sense of urgency and pressure victims into acting quickly. At Minnco, we want to help you stay informed and protected from common scams like phishing, imposter fraud, fake job offers, and more. Here, you will learn how to recognize common fraud and scam tactics, to keep your finances safe. 

Phishing Scams

Scammers send fake emails, text messages, or phone calls pretending to be from a trusted source (banks, government agencies, Minnco, USPS, etc.). They use language that creates a sense of urgency or fear to try to get you to share personal or financial information or click on links to websites. Never click on these links!

Job Scams

Scammers will post fake job listings or contact job seekers with high-paying opportunities that require personal information or upfront application fees. Unsolicited job offers, requests for money or personal details before hiring, and only conducting interviews through an online chat are all signs that it may be a scam. Always be sure to research the company, and never pay for an interview or a job opportunity. 

Charity Scams

Fraudsters will pretend to be charities, especially charities that relate to current disasters, to try and receive donations. They will also create a sense of urgency and pressure to donate as soon as possible. They will accept gift cards or wire transfers. Remember to only donate to verified charities through their official website.

Online Shopping Scams

Fraudsters will create fake websites or social media ads to sell products that don’t exist or never arrive. Oftentimes, the products/brands are based on a different, legitimate brand. Common red flags are prices that are too good to be true, no reviews, no contact information, and urgency (ex: SALE ENDS IN 1 HOUR). To stay safe, only shop from reputable websites, check reviews and use secure payment methods. 


Imposter Scams

A scammer will pretend to be a family member, friend, an official from the IRS, Minnco, etc. They might pretend to be in danger or in a difficult situation, and make requests for money, gift cards, wire transfers, or cryptocurrency. They may even use personal information collected online to sound more legitimate. Verify identities by calling the person or the organization directly. The IRS will never call to request a payment, they will always send mail or in person.

Lottery Scams

Scammers will contact you and let you know that you’ve won a prize, a vacation, a cruise, etc. However, to claim the prize you first need to pay a fee or taxes. Signs that it may be a scam are requests for payment in advance, or if it’s a contest or lottery you never entered. Most legitimate lotteries and prizes won’t request payment for anything you won.

Identifying Scams: 3 Rules to Identify Scams

1. If it seems too good to be true, it probably is. Massive sales for luxury brands, winning the lottery or a vacation, offers for high-paying jobs with no experience, and others are usually scams. Always be skeptical!

2. Stop and think before acting. Scammers rely on urgency and pressure to get you to act fast and pay. Slow down, verify the request, and proceed with caution.

3. Trust your instincts and look for red flags. If something feels "off", there's poor grammar, unexpected links, and unusual payment requests, it's usually a scam!

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