Common Scams and Types of Fraud

5 Min. Read

What are the most popular types of online scams?

Fraudsters are constantly developing new ways to trick you into sharing personal information or sending money. To protect yourself, it’s important to have a working knowledge of common scams. Here, we’ve organized the most commonly reported scams into three categories: Online and Digital Scams, Fraud and Impersonation Scams, and Information Security Scams.

 

If you ever encounter one of these situations, contact Marine Credit Union right away. We can help you navigate the right next steps, including what to do if you fall for a scam.

 

Online & Digital Scams

Online scams can vary widely and take many forms. They can occur via email or text message, when browsing the web or shopping online, and over social media.

Online Shopping Scams

Scammers develop fake websites mimicking popular retailers’ sites and take your money and payment information without delivering products. They may also create counterfeit apps containing malware (malicious software) for the same reasons.

Fake Websites and “Form-jacking”

There’s a surprising number of websites posing as your favorite brands or retailers. These fake sites try to scam you with too-good-to-be-true deals and trick you into making purchases. There are also fraudsters using what’s known as form-jacking, a cyber threat that steals your credit card information. It happens when a legitimate website is hacked and you’re unknowingly redirected to a different—and malicious—URL.

Fake Antivirus Software

If you’re browsing online and suddenly see a suspicious pop-up, chances are it’s a scam. Fake antivirus software ads and pop-ups try to trick you into downloading their free software; when you do, that software infects your computer with a virus, malware, ransomware, or other cyber threats.

Get-Rich-Quick Scams

It’s easy to be enticed by promises to make quick and easy money, and more and more cybercriminals are using this scheme to take advantage of unsuspecting people. Claims that you can make big bucks fast are simply tactics to get you to hand over personal and financial information or make an ill-advised investment.

Tech Support Scams

Over the phone and via email, tech support impersonators are contacting people to tell them their devices are infected. They may prompt you to download an app that enables them to control your device remotely, which allows them to download actual viruses or malware. Then they ask for payment to fix it.

Crypto Scams

Scammers are taking advantage of the popularity of cryptocurrency by creating fake investment opportunities, fraudulent exchanges, or impersonating legitimate crypto companies. They promise high returns or exclusive deals, but once money or digital currency is transferred, it’s almost impossible to recover.

Video Game Digital Currency Scams

Fraudsters target gamers through fake websites, ads, or in-game messages that offer discounted or free digital currency, upgrades, or items. Instead of receiving what you purchased, you lose money, and your account or payment information may be compromised.

Fraud & Impersonation Scams

Fraud and impersonation scams often rely on emotional triggers and false promises to deceive their victims. Criminals may impersonate someone you know and trust to trick you into sending money or sharing sensitive information.

 Elder Fraud / Grandparent Scams

Seniors are often targeted because they tend to be trusting and polite. They also usually have financial savings, own a home, and have good credit, all of which make them attractive targets for scammers. In grandparent scams, criminals pose as a relative—usually a child or grandchild—claiming to be in immediate financial need. Learn more about how to prevent elder fraud, or how to report and recover from an elder fraud scam.

Romance and Dating App Scams

Romance scams occur when a criminal adopts a fake online identity to gain your affection and trust. The scammer then uses the illusion of a romantic or close relationship to manipulate or steal from their victim.

Telemarketing Fraud

Telemarketing scams involve a caller impersonating a company, charity, or government agency. You may be told that you owe money or have won a prize and need to act immediately. The scammer’s goal is to pressure victims into paying over the phone or sharing sensitive information.

Lottery and Sweepstakes Scams

Criminals claim to work for legitimate charitable organizations to gain their victims’ trust. Or they claim you’ve won a foreign lottery or sweepstake, which you can collect for a “fee.”

Money Mule Schemes

Criminals recruit money mules to help launder proceeds derived from online scams or crimes like human trafficking and drug trafficking. Money mules add layers between crime victims and criminals, making it harder for law enforcement to accurately trace money trails. Money mules often receive a commission for their service, or they might assist because they believe they have a trusting or romantic relationship with the individual who is asking for help.

 

Information Security Scams

Information security scams focus on stealing or hijacking your personal data. Criminals use digital tricks to gain unauthorized access to accounts, finances, or devices, and their victims often don’t realize it until it’s too late.

Phishing

Phishers take on the persona of someone you trust, such as a friend or co-worker, and ask you to share information or click a link via email, social media, or messaging apps. That link is often malicious, taking you to an unsecure and unsafe site. Phishing has evolved and now has several variations that use similar techniques:

Vishing

Over the phone, voice email, or VoIP (voice over Internet Protocol) calls.

Smishing

Through SMS (text) messages.

Quishing

Through QR codes that redirect victims to download or visit malicious content.

Pharming

Malicious code that is installed on your computer to redirect you to fake websites.

Spoofing

Spoofing occurs when someone disguises an email address, sender name, phone number, or website URL—often just by changing one letter, symbol, or number—to convince you that you are interacting with a trusted source. Criminals count on manipulating you into believing these spoofed communications are real, which can lead you to download malicious software, send money, or disclose sensitive information.

Email Fraud

Some email fraudsters rely on deception and emotional triggers, such as fake inheritance offers, foreign lottery claims, or urgent pleas for help. These emails often have unusual language or spelling errors and encourage secrecy (which makes them easier to spot).

Credit Card Fraud

Credit card fraud happens when criminals steal your card number or account details and use them to make unauthorized transactions. This can happen through data breaches, skimming devices, or when you enter your information on a fake website.

ID Theft and Account Fraud

Identity theft occurs when criminals use your personal information (such as your Social Security number, bank account details, or login credentials) to open new accounts, make purchases, or take over existing accounts. This type of fraud can have lasting effects on your finances and credit.

Business Email Compromise (BEC)

Business email compromise has evolved from scammers simply sending an email that appears to come from a business or individual you know to compromising legitimate business email accounts through social engineering or computer intrusion techniques. These scams aim to conduct urgent, unauthorized transfers of funds.

Ransomware

Ransomware is a type of malicious software (or malware) that prevents you from accessing your computer files, systems, networks, or cell phone. Malware is installed in various ways, including through links and attachments in emails, downloads from malicious websites, or removable drives. Criminals hold your data hostage until the ransom is paid and pressure you by threatening to destroy or publicly release your data.

 

Staying alert to the many types of scams is one of the best ways to protect yourself and your money. If something seems suspicious—whether it’s a phone call, email, or online offer—it’s always better to pause and verify before responding.

 

For more tips and resources, visit our Security and Identity Theft Resource Hub, and browse our complete collection of Security and Fraud articles. If you ever suspect you’ve become a victim of fraud, contact us right away. Marine Credit Union is here to help you navigate the next steps with confidence.