Preventing fraud starts with awareness
Scammers are always finding new ways to trick people, but being informed can save you from becoming a victim. By understanding common scams and how to spot them, you can protect your money and personal information.
Common scams to look out for
The first step to avoiding scams, is knowing how to identify them. From property purchase scams to fake investment opportunities, it's important to recognize the warning signs.
Relationship scams
You meet someone online who says they are overseas. Even though you’ve never met in person, they’ve gained your trust. Suddenly, they ask for money for an “emergency”. They promise to pay you back, but they never do.
Property scams
You find a great deal for a property abroad that seems too good to be true. The seller seems genuine and asks for a deposit to secure the property, even though you haven’t seen it in person yet. Once you send the payment, the seller disappears.
Relative-in-need scams
You get a call from someone claiming to be a family member in trouble and in need of money. They are reluctant to share details and request that you not tell anyone. You send the money, only to find out that they were not who they said they were.
Investment scams
A stranger reaches out to you with an amazing investment opportunity that seems too good to pass up. They promise you high returns with little to no risk. They urge you to act quickly before the market changes. But once you invest, your money is gone.
Vulnerable person scams
A scammer targets victims that are age 60 or older and pretends to be a someone of importance, like a government official. You may get a call, email, or letter saying that you owe money and legal action will be pursued if you don’t pay immediately.
Advance-fee scams
You receive an email saying that you qualify for a loan with no credit checks required. You apply and are told to pay a fee to unlock the loan. After paying, you find out the company was a scam, and there was never a loan to begin with.
Identity theft scams
You get a call from someone claiming to be from your bank. They ask you for personal information, like your social security number, to verify your account. After sharing your details, unauthorized transactions start to appear.
Telemarketing scams
You get an unexpected call from a company saying that you’ve won a prize, but that you must send an upfront fee or personal information to receive it. After you send money, the prize is nowhere to be found and the company can’t be reached.
Remote scams
A pop-up message warns you that your computer is infected and provides a support number. When you call, they ask for remote access to fix it. Once they get access, they change your passwords and lock you out of your accounts.
Help, I've been scammed!
If you think that you've been a victim of a scam, act right away. Save all relevant details like names, contact information, or any proof of communication. Contact your local police or file a report with our fraud team.
Look for the signs
Even though scammers may use a variety of tricks to fool people, there are clear signs that can give themselves away. Ask yourself these questions when dealing with suspicious activity.
Is it too good to be true?
Scammers often create excitement to make you act impulsively and distract you from red flags. Look out for offers that promise quick and easy money, or require personal information. Always research offers and trust your instincts if something feels wrong.
Do you feel pressured?
While trustworthy businesses give you the space to consider your options, scammers will create a sense of urgency to pressure you into making quick decisions. Look for phrases like ‘limited time offer’ or any situations that feel overly rushed.
Are they making promises?
Every investment comes with some level of risk, and profits are not guaranteed. Scammers will use persuasive language like, ‘high return’ or ‘no risk’ to give you a false sense of security. Always research and ask questions before making financial decisions.
Is it unexpected?
Real offers usually don't come out of nowhere. Always take your time to verify the offer and who is reaching out to you. Be cautious of cold calls, unexpected emails, or social media messages that promote opportunities that seem too good to be true.
What Xe will never ask you to do
We will never ask you for personal or financial information through email or social media. If we need additional documentation from you, we will send an email with instructions to upload documentation directly through our platform.
Resources to understand scams
The more you know about fraud prevention, the better. Use these resources to learn more about scams.
FTC - U.S.
Learn about scams though the Federal Trade Commission's resources like articles, guides, and videos. With regular updates on emerging scams, you'll always be in the know.
USA.gov
USA.gov shows you how to report scams to local law enforcement and the FTC. It shares additional resources on how to avoid scams and links to federal and state agencies for support.
ScamWatch - AU
Assess your risk and identify potential scams through ScamWatch. People can engage in community discussions about scams they've encountered to show others what to avoid.
CAFC - CA
Stay informed on the latest fraud tactics with updates from the Canadian Anti-Fraud Centre. With information on online scams, phone scams, and identity theft, you'll always know what to look out for.
GASA
The Global Anti-Scam Alliance works with governments, organizations and consumer groups to raise scam awareness through articles, presentations, and best practices.
IC3
If you've been a victim of scam, it's important to take action immediately to minimize damage. File a complaint directly with the FBI through the Internet Crime Complaint Center.