Scammers are everywhere. The widespread use of the Internet in modern society has made email scams more pervasive than any other forms of fraud on the planet. Or so it seems. You can hardly log onto your email account without running across 10 or 20 scam emails. Many of them are easy to recognize. Unfortunately, scammers are becoming increasingly sophisticated, and some modern scams are more difficult to recognize than the average web surfer imagines. The better you understand how these scams work and the tools available to protect you from them, the better your odds of avoiding them in the future. Here’s what you need to know about fraudulent emails and scams to avoid becoming their next victims.
Understanding Email Scams
As the name implies, email scams occur in emails that appear to be from recognizable senders. Common scams floating around these days come from what appear to be famous institutions, including many of the following:
- Home Depot
- CVS
- PayPal
- Chase Bank
- UPS
- FedEx
- Amazon
- Western Union
- T-Mobile
- CashApp
In other words, companies many of us receive daily emails from anyway. That makes discovering fake emails a little more complicated. Especially if you don’t open them. However, if you open the emails, you can often identify the fakes quickly by checking out the return address. Even if the senders use the name and logos of the company (as well as authentic appearing links), the return address is often a clear clue that this is not a legitimate email from the organization you expect.
Recognizing Fraudulent Emails and Scams
Since these fraudulent emails look so official, how can you recognize them for what they are? A few key phrases and terms can help clue you into an email being fraudulent. These are a few you should watch for.
- “We’ve noticed suspicious activity on your account.”
- “There have been suspicious log-in attempts on your account.”
- “There’s a problem with your payment.”
- “We need to confirm payment or account information.”
- “Please view the attached invoice for services.”
- “You’re eligible for a refund.”
- “Click this coupon for free stuff!”
The goal of these emails is to do one of the following things:
- To get you to download a file or click a link that will give them access to information on your computer.
- To get you to provide them with password information for your accounts.
- To obtain personal information about you for their databases.
- To install malware on your computer.
- To get you to send money.
When you recognize that these are not legitimate emails, you should forward the false emails to the legitimate organization so they can take action or report the attempt to the FTC at reportfraud.ftc.gov. If you’re concerned that the email might be legitimate, visit the organization’s website through an outside tab or in a new window (never click on the link if you suspect a scam) or call the organization to inquire about whether they sent the email to you in the first place.
The Impact of Email Scams
How big is the problem? According to the FBI, email scams in 2022 resulted in over $52 million in consumer losses in phishing scams alone. The losses triple once the combination of data breaches and non-payment scams entered the mix. In other words, the costs are substantial. We can only expect those numbers to increase as the technology that makes these types of scams improves and evolves.
Protecting Yourself from Email Scams
Protecting yourself from email scams is as simple as exercising a fair amount of caution and skepticism. Even if the email appears to be from an institution you trust, it is in your best interest to verify that information by opening a new tab or window and accessing the website separately from the email. It is also wise never to download attachments unless you know the sender (and make sure the email return address is the correct sender). Finally, don’t send money or provide passwords to people through email. No matter how urgent the need described in the email, it is better to take time and verify rather than become a victim. Finally, set up robust spam filters on all your email accounts and use them. Don’t forget to invest in spyware and firewalls to protect yourself and your computer from malicious invaders.
What to Do if You’re a Victim
If you become a victim of email scams, report them to the proper authorities. The FTC is a great place to begin. You can also highlight the latest scams by reporting them to the appropriate authorities.
Reporting Email Scams
If you receive suspicious text messages, you can forward the text to SPAM (7726). With emails, you can forward the email to the Anti-Phishing Working Group. Their email address is reportphishing@apwg.org, in addition to reporting the attempt to the FTC.
Takeaways
Email scams are the newest form of scams going around the Internet today. From claims that you’ve inherited money from long-lost relatives to car warranty scams to phishing that looks surprisingly legitimate, your best bet is to approach email with a skeptic’s eye.