The Most Successful Money Scams

The Grandparent Scam

“Hi, this is your daughter. I need help.”

Scammers will pose as a family member in danger. Most of the time this is targeted at the elderly, trying to get them to pay ransoms or other fees. The AARP does good work to help people avoid getting caught up in this.

The IRS Scam

“Hi, I’m from the IRS and we need some financial information.”

These IRS Scams come in all shapes and sizes, but the one thing to keep in mind for all IRS scams is straight from the IRS website: the IRS does not initiate contact with taxpayers by email, text or social media to request personal or financial info.

Luckily, the IRS also provides how to know it’s really the IRS when it’s the IRS.

The Tech Support Scam

“Hi, I’m from Microsoft Tech Support. We’re going to check the reverse flyback reverberator on your computer real quick. I’ll need you to open some files and run a scan.”

Tech Support scammers will claim to be from a well-known tech company. They’ll use loads of technical jargon to make you think something is wrong with your computer. They’ll ask you to open files or run scans. Then they’ll tell you the results show a problem.

The FTC protects consumers against these scams.

The Work From Home Scam

“Want to work from home? Work for us. Right after we send you a check to buy stuff with.”

This one is tricky because plenty of companies offer remote or hybrid work. Some scammers will offer the same thing.

The Romance Scam

“So we’ve been talking on this app for a little while and I was hoping you could do me a favor.”

Millions of people are using dating apps. So, scammers found an addressable market. The scam typically involves the scammer trying to get the person on the app to launder illicit funds through the banking system or crypto. Which, in turn, makes the person who does it an unsuspecting money mule.

The Vehicle Wrap Scam

“Easy money! Shrink-wrap your car for Monster Energy! Easy! Money!”

We’ve all been hit with ads that promise easy-peasy passive income if only we’d wrap our car for a brand like Red Bull or Pepsi. Sometimes, the “company” promising this will ask you to deposit a check, use part of it to pay a vendor and drive with a very Pepsi car. Problem is, that original check will bounce weeks after you’ve already paid the vendor. Alas, there is no easy money.

The Pig Butchering Scam

“Hey, stranger.”

Less dramatically known as an investment scam, this scam starts with an unexpected text or direct message from a stranger. They work to gain trust before ultimately manipulating their targets into phony investments before — surprise! — taking off with your money. These scammers took a page out of the practice of fattening a pig before slaughter.

The Charity Scam

“Your money will go to a good cause. Trust me.”

Charities will take your donation. Sometimes they do great things with it. Other times, well, it’s a scam.

We support supporting charities. In fact, we partner with Spiral Giving Network to make legit charity research easy. Just log in to online banking and choose the Giving Center tab for some vetting advice.

The Secret Shopper Scam

“We’ll pay you to shop if you wire us some fees first.”

Mystery shoppers have a solid gig. Getting to go around shopping on somebody else’s dime. Yet, for most, it is too good to be true. Scammers will request that you pay to do it, that you pay for a list of jobs to do it or that you wire back “fees” or other bologna.

The Sweepstakes Scam

“You won a new iPad!!!! Just send us the last four of your social first, and Tim Cook will be in touch.”

aka The Lottery Scam and The Fake Prize Scam. You get a call, email or letter saying those sweet words we all want to hear. You won! A vacation. Electronics. The lottery, even. But, the winning is immediately followed by a request for money or personal information.