How to spot a suspicious money request

How to Protect Yourself from Money Request Scams: Internet Scambusters #1,151

Online scams are on the rise, and one of the most pervasive tactics scammers use involves suspicious money requests. With advancements in technology and the increasing reliance on digital communication, scammers are finding new and creative ways to deceive people into handing over their hard-earned money.

Today’s issue will help you understand how these scams operate, who is most at risk, and how to protect yourself and your loved ones from falling victim.

Protect Yourself from Fraudulent Money Request Scams

Scammers use various methods to request money from victims and disguise their intentions so they will appear legitimate. Some common methods include:

Impersonating Officials – Claiming to be from government agencies, law enforcement, or even tax offices to demand "urgent payments."
Family or Friend Emergencies – Pretending to be a loved one in distress, needing immediate financial assistance, often through text messages or phone calls.
Tech and Customer Support Scams – Tricking you into paying for "tech support services" to fix non-existent issues on your devices.
Overpayment Scams – Sending fake checks or payments, then asking for part of the money to be returned.
Contest or Lottery Winnings – Convincing victims to pay fees or taxes to claim fake prizes.

These professional con artists aim to create a sense of urgency, making you more likely to send money without thinking twice.

Scammers Target Specific Populations

Scammers often tailor their scams to specific groups they think are more vulnerable:

Seniors – Older adults are frequently targeted because they may be less familiar with fraud tactics or feel compelled to respond to urgent requests involving loved ones.
Online Shoppers – Scammers exploit shoppers with fake order confirmations or fraudulent refund requests.
Smartphone Users – Anyone with a smartphone is susceptible to phishing attempts via text messages (smashing).
Traveling Professionals – Constantly moving and using public Wi-Fi can make travelers more vulnerable to targeted email phishing and identity theft.

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No matter who you are, the key is to remain skeptical of unsolicited requests for money.

How Do Scammers Get My Phone Number?

Scammers use several techniques to gain access to your contact information, such as:

Buying data from leaked databases or illegal online marketplaces.
Scraping publicly available information from websites, social media profiles, or online directories.
Phishing emails or fake forms that trick you into sharing personal data.

Once they have your phone number, they may combine it with other details to create more convincing messages tailored specifically for you.

Warning Signs of a Suspicious Money Request

Is a payment request legitimate? Look out for these red flags:

Urgency or Pressure – Scammers often give no time to think, claiming that delay could result in serious consequences.
Unfamiliar Senders – Requests from unknown phone numbers, emails, or contacts.
Misspellings/Errors – Poor grammar or awkward phrasing in the communication can indicate fraudulent activity.
Unusual Payment Methods – Being asked to pay via prepaid gift cards, crypto wallets, or wire transfers is a big warning sign.
Too Good to Be True – Being told you've won a contest you never entered is usually a scam.

Trust your instincts and verify the request through legitimate channels if something feels off.

What Can I Do to Prevent Suspicious Money Requests?

Prevention is your first line of defense. Here’s how you can protect yourself:

Be Cautious with Personal Information – Only share your phone number with trusted contacts and avoid posting it publicly.
Enable Privacy Features – Make your social media accounts private and ensure your personal details aren’t publicly viewable
Use Trusted Apps – Use secure and well-known platforms like PayPal or Venmo to verify recipients before sending money.
Enable Two-Factor Authentication (2FA) – Protect your accounts by making it harder for scammers to access your online profiles or financial data.
Avoid Clicking Links – Don't click on links in unsolicited messages. These links could lead to phishing websites designed to steal your personal information.
Be Skeptical – Question every money request you receive, especially if it comes with a sense of urgency.

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Take action immediately if you have been targeted.

Report the Incident to your bank or payment service to stop the transaction or freeze accounts.
Document evidence like screenshots, messages, or phone numbers associated with the scam.
Change passwords for any accounts that may have been affected.

While the situation may feel overwhelming, quick action can help mitigate any further losses.

Should I report this crime? Yes — absolutely! Reporting scams not only protects you but can also help prevent others from becoming victims. Here’s who to contact:

Report the scam to your nearest police station.
Submit a report online to the Federal Trade Commission.
Contact fraud hotlines or consumer affairs departments in your area.
Contact your bank or financial institution to block transactions and flag accounts.

When you report these crimes, you help fight against online fraud.

If you’ve been scammed, you are not alone, and there are resources ready to help:

FTC (United States) – File a claim and get support.
AARP Fraud Watch Network – A free resource to learn how to proactively spot scams for all.
IdentityTheft.gov – Report identity theft and get a recovery plan.

Many organizations provide step-by-step instructions and counseling to help you recover financially and emotionally from fraudulent activities.

Conclusion

Suspicious money requests are getting trickier, but you can protect yourself from these scams. Stay informed and alert to avoid being fooled by scammers who want to take advantage of your trust.

If a request seems off, trust your gut. Keep your phone number private, check who sent the message, and think carefully before you act. If someone asks for money urgently or tries to scare you, it's probably a scam.

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To ensure your protection, check out the articles below to educate and help prevent becoming a victim.

Remember to check back for next week's Scambusters article to learn about “housing and apartment rental scams.”

Stay safe, and spread the word. Awareness is the best weapon against fraud.

That's it for today -- we hope you enjoy your week.