Online scams have been around for decades, but they’re only becoming more sophisticated as the internet evolves. There were 351,937 reports of online fraud in 2018, which resulted in $2.7 billion in losses. Unfortunately, scammers have many ways to prey on unsuspecting victims through email, pop-up ads, social media, and bank websites. As such, you should recognize potential scams to keep your money safe. Below are a few of the most common ones to know.

Internet Scams to Be Aware Of

1. Lottery

Many people dream about winning the lottery, but if you get an email claiming you’ve hit the jackpot, don’t get too excited. Usually, this will involve details of a lottery you’ve never heard of and emphasize a substantial payout.

It may also ask you to send personal data to verify your winnings or pay a small processing fee. With your information, the scammer may try to compromise your bank account, or take the processing fee and run. Lottery scams will often come from a person instead of a company, and you may not be the only recipient.

2. Phishing

This is one of the oldest and most widespread online scams. It involves sending emails that pretend to be from a legitimate organization, such as a retailer, bank, or university. The email will ask for personal information that the scammer can then use to access your accounts.

It is challenging to identify this as a scam because the email will generally include authentic graphics and other details that appear real. Never click on links in emails you have any doubts about, look for spelling errors, and check the sender’s email address to see if it contains the right domain.

3. Pre-Approval

Many people receive offers for new credit cards and bank loans, so you may not worry if another one pops up in your email. However, you must examine these carefully. Typically, the message will say you’ve been pre-approved and provide appealing terms, but then ask you to pay an upfront fee.

While some credit card companies do charge fees, they won’t request you to pay them at sign-up. Also, a real bank won’t pre-approve you for a loan without you authorizing a credit check.

If you’re looking for a safe and secure place to keep your money, turn to First & Peoples Bank and Trust Company. They offer reliable checking and savings accounts, along with a wide array of solutions to manage your financial life efficiently. Since 1932, this bank has proudly expanded throughout Greenup County, KY, to serve the communities of Russell, Flatwoods, Greenup, Ashland, and South Shore. Call (606) 836-0211 to speak with a friendly staff member, or visit them online to learn more about their services.