19 Scams to Watch Out for in 2024 & How to Protect Yourself

Scams have evolved to become more sophisticated and pervasive than ever before. According to the Federal Trade Commission, Americans lost a staggering $8.8 billion to fraud in 2022, marking a 30% increase from the previous year.¹ 

Technological advancements have further complicated the landscape, making it harder for individuals to distinguish between legitimate communications and fraudulent schemes. 

Here are 19 of the most prevalent scams in 2024, providing insights into how they operate and offering practical advice on how to protect yourself.

1. Peer-To-Peer Payment App Scams

The convenience of peer-to-peer payment apps like PayPal, Venmo, and Zelle has made them a prime target for scammers. P2P app users experienced some form of scamming activity while using these platforms, which amounted to $1.7 billion in 2022. (ref)

How To Avoid It: Always verify the recipient’s information before sending money. Be wary of requests from strangers or unexpected payment requests from friends.

Remember, most P2P apps don’t offer buyer protection, so once the money is sent, it’s often gone for good.

2. Cryptocurrency Investment Scams

The complex and often misunderstood world of cryptocurrency has become a breeding ground for scams. Fraudsters often use social media to promote fake investment opportunities, promising unrealistic returns with little to no risk.

They may even use deepfake technology to create videos of celebrities endorsing their schemes.

How To Avoid It: Only invest through reputable, well-known platforms. Be extremely wary of any investment opportunity that guarantees high returns, especially if it requires you to act quickly.

Remember, legitimate crypto investments carry risks, and if an offer sounds too good to be true, it probably is.

3. Social Media Shopping Scams

Online shopping scams have found a new home on social media platforms. A quarter of adult social media users have been targeted by scams on these platforms at least once.

These cons often involve fraudulent sales of items, event tickets, or even fake job offers.

How To Avoid It: Be cautious when making purchases through social media. Research the seller thoroughly, looking for reviews from other buyers. Be wary of deals that seem too good to be true, and always use secure payment methods that offer buyer protection.

If possible, stick to well-known, reputable online marketplaces for your purchases.

4. Sextortion Scams

Sextortion scams are on the rise, yet fewer than half of Americans are aware of this insidious threat. In these schemes, scammers build trust with victims through social media or dating apps, eventually coercing them into sharing compromising material.

They then threaten to expose this content unless a ransom is paid.

How To Avoid It: Be extremely cautious about sharing intimate content online, even with people you think you can trust. Be aware that scammers may use fake profiles and stolen images to appear legitimate.

If you become a victim, don’t pay the ransom. Instead, report the incident to law enforcement and seek support from trusted friends or family members.

5. Deepfake Voice Cloning Scams

Advancements in AI have made it possible for scammers to create convincing voice clones. These synthetic voices can be used in various scams, including the notorious “grandparent scam” where fraudsters impersonate family members in distress.

The technology is so advanced that it can fool even close relatives.

How To Avoid It: Establish a family password that can be used to verify identities over the phone. Be skeptical of any unexpected calls claiming a family emergency, especially if they’re asking for money.

Take the time to verify the caller’s identity through other means before taking any action.

6. QR Code Scams

QR codes have become ubiquitous in our daily lives, but they’ve also opened up new avenues for scammers. Fraudsters may place malicious QR codes in public spaces or send them via email, leading unsuspecting victims to phishing sites or prompting the download of malware.

These codes can be easily manipulated to redirect to fraudulent websites.

How To Avoid It: Avoid scanning QR codes from unknown sources. When possible, manually type in web addresses instead of relying on QR codes.

If you must scan a code, use a QR scanner app that checks for malicious links before opening them. Always be cautious when a QR code asks you to enter personal or financial information.

7. Employment Scams

Job seekers are prime targets for scammers, who often promise high-paying work-from-home opportunities or lucrative business ventures. These scams typically require upfront payments for training, equipment, or fees, leaving victims out of pocket with no job to show for it.

The rise of remote work has made these scams even more prevalent.

How To Avoid It: Be wary of job offers that seem too good to be true or require upfront payments. Research the company thoroughly before providing any personal information or agreeing to an interview.

Legitimate employers won’t ask you to pay for the opportunity to work for them. Use reputable job boards and verify any job offers directly with the company through their official channels.

8. Rental Scams

The competitive housing market has given rise to an increase in rental scams. Fraudsters may list properties they don’t own or control, often at below-market rates to attract victims.

They then pressure potential renters to send deposits or sign leases without ever seeing the property in person.

How To Avoid It: Always view a property in person before sending any money or signing a lease. Be wary of landlords who claim they can’t show the property due to being out of town or other suspicious reasons.

Research the property online to ensure it’s not being advertised by multiple parties. Use secure payment methods and never wire money to someone you haven’t met in person.

9. Tech Support Scams

Tech support scams continue to evolve, with scammers using increasingly sophisticated tactics to trick victims. These fraudsters may use pop-up warnings, fake virus alerts, or even cold calls claiming to be from well-known tech companies.

They aim to gain remote access to your computer or convince you to pay for unnecessary services.

How To Avoid It: Remember that legitimate tech companies won’t contact you unsolicited about computer problems. Be skeptical of pop-up warnings and never allow remote access to your computer unless you’ve initiated contact with a trusted service provider.

If you’re concerned about your computer’s security, contact the manufacturer or a reputable local tech support company directly.

10. Romance Scams

Romance scams continue to break hearts and bank accounts. Scammers create fake profiles on dating sites or social media, building emotional connections with their victims before asking for money.

These cons can be long-term, with fraudsters investing months in building trust before making their move.

How To Avoid It: Be wary of online romantic interests who quickly profess strong feelings. Be skeptical if they always have excuses for why they can’t meet in person or video chat.

Never send money or personal financial information to someone you haven’t met in real life. Take things slow and do your research – a reverse image search of their profile picture can often reveal if it’s been stolen from elsewhere online.

11. Lottery & Sweepstakes Scams

The allure of a big win makes lottery and sweepstakes scams perennially popular among fraudsters. These scams often target older adults, claiming the victim has won a large prize but must pay fees or taxes upfront to claim it.

The scammer may use official-looking documents or impersonate government agencies to appear legitimate.

How To Avoid It: Remember, you can’t win a lottery or sweepstakes you didn’t enter. Legitimate lotteries never require upfront payments to claim winnings.

Be skeptical of any unexpected windfall, especially if it comes with pressure to act quickly or keep it secret. If you’re unsure, contact the supposed organization directly using a verified phone number or website – not the contact information provided in the winning notification.

12. Charity Scams

Charity scams prey on people’s generosity, especially during times of crisis or natural disasters. Scammers may set up fake charities or impersonate real ones, often using high-pressure tactics to solicit donations.

They may even use AI-generated images or videos to create compelling but false narratives.

How To Avoid It: To ensure your donations reach those in need, research charities before giving. Use resources like Charity Navigator or GuideStar to verify an organization’s legitimacy.

Be wary of charities that pressure you to donate immediately or ask for payments in gift cards or wire transfers. When possible, donate directly through a charity’s official website rather than through links in emails or social media posts.

13. Investment Scams

Investment scams come in many forms, from Ponzi schemes to fake cryptocurrency opportunities. These frauds often promise high returns with little or no risk, using sophisticated marketing materials and fake testimonials to lure victims. The rise of social media has given scammers new platforms to promote their fraudulent investment opportunities.

How To Avoid It: Be skeptical of any investment that promises guaranteed high returns. Do your due diligence – research the company, check for proper registration with regulatory bodies, and consult with a trusted financial advisor before investing.

Remember, legitimate investments always carry some level of risk, and if an opportunity sounds too good to be true, it probably is.

14. Phishing Emails & Texts

Phishing remains one of the most common and effective scam tactics. Fraudsters send emails or texts that appear to be from legitimate companies, government agencies, or even friends and family.

These messages often create a sense of urgency, prompting victims to click on malicious links or provide sensitive information.

How To Avoid It: Be cautious of unsolicited messages asking for personal information or urging immediate action. Check the sender’s email address carefully – scammers often use addresses that are similar to but slightly different from legitimate ones.

When in doubt, contact the supposed sender directly through a verified phone number or website, not through the contact information provided in the suspicious message.

15. Imposter Scams

Imposter scams involve fraudsters posing as authority figures or trusted entities to manipulate victims. This can include impersonating government officials, tech support representatives, or even family members.

These scams often use fear tactics or emotional manipulation to pressure victims into complying with their demands.

How To Avoid It: Be skeptical of unsolicited contact from anyone claiming to be in a position of authority. Verify the identity of the person contacting you through official channels.

Remember that government agencies and legitimate businesses will never ask for sensitive information or payments over the phone or via email. If you’re unsure, hang up and call the organization directly using a number you trust.

16. Advance Fee Fraud

Advance fee fraud, also known as the “Nigerian Prince” scam, continues to evolve and trap unsuspecting victims. In these schemes, scammers promise a large sum of money or valuable item in exchange for a small upfront payment.

The promised reward never materializes, and victims are left out of pocket.

How To Avoid It: Be wary of unsolicited offers or windfalls, especially from strangers or foreign entities. Remember that legitimate opportunities rarely require upfront payments.

If you’re asked to pay fees, taxes, or other costs to receive a prize or inheritance, it’s likely a scam. Always verify the legitimacy of any offer independently before parting with your money.

17. SIM Swapping Scams

SIM swapping is a sophisticated form of identity theft where scammers transfer a victim’s phone number to a new SIM card under their control. This allows them to intercept calls and text messages, potentially bypassing two-factor authentication on various accounts.

The scammer can then reset passwords and gain access to email, banking, and other sensitive accounts.

How To Avoid It: Use strong, unique passwords for all your accounts and enable two-factor authentication that doesn’t rely solely on SMS. Consider using an authenticator app instead of text messages for two-factor codes.

Contact your mobile carrier to set up additional security measures, such as a PIN or password required for any changes to your account.

18. Fake Antivirus Scams

Fake antivirus scams trick users into believing their device is infected with malware, prompting them to download and pay for bogus security software. These scams often use pop-up alerts or websites that mimic legitimate antivirus programs.

Once installed, the fake software may actually install malware or steal personal information.

How To Avoid It: Only download antivirus software from reputable sources. Be skeptical of pop-up warnings about viruses, especially if they’re not from your installed security software.

If you’re concerned about your device’s security, run a scan with your existing antivirus program or download a reputable, free antivirus tool directly from the manufacturer’s website.

19. Gift Card Scams

Gift card scams have become increasingly prevalent, with fraudsters using various tactics to trick people into purchasing gift cards and sharing the card information.

These scams often involve impersonation, where the scammer pretends to be a government official, tech support representative, or even a friend or family member in need.

How To Avoid It: Remember that legitimate organizations and government agencies will never ask for payment via gift cards. Be wary of anyone pressuring you to buy gift cards, especially if they ask you to share the card numbers and PINs.

If someone you know urgently requests gift cards, verify their identity through a separate, trusted channel before taking any action.

Staying informed about the latest scams is crucial in our rapidly evolving digital landscape. By remaining vigilant, questioning unusual requests, and verifying information independently, you can significantly reduce your risk of falling victim to these fraudulent schemes.

If something seems too good to be true or feels off, trust your instincts and proceed with caution.

Source:

1. AARP