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Verify Scams Latest Articles

How to Avoid Scams: A Simple Guide to Protecting Your Finances

How to Avoid Scams: A Simple Guide to Protecting Your Finances

Scammers are on the rise, which makes it essential to focus on how to avoid scams. In this guide, we will shed light on this topic and discuss about it. It will include a complete breakdown of how scammers operate, how they perform scams, what approach they use, what makes it easy for them to target people, and how to stay safe from such scammers. This guide will help you to understand their chronology of working and targeting victims with their new techniques. 

How to avoid scams

Scammers Target three types of people… 

1:- who use digital payment apps, but are not very literate about it. 

2:- who is unemployed and looking for some ways to make money.

3:- who is stelled and has too much money in their bank account. 

One question will confidently come to your mind, how scammers will get to know, which person is not very literate, who is unemployed, and who has too much money in his bank account? So let’s find out this secret….

People usually download many apps on their phones, these apps usually take access to most of the activities on the phone. They collect the data and save it for many purposes like advertising… This Data consists of everything, what messages you are getting, with whom you are talking, what you are talking, what you are searching on the internet.. everything.. Now this data is something which have all the information about you.


Apps-owned companies collect this data to make your experience better but, there is no guarantee that this type of data is safe. Now hackers play their role in stealing that data. Hackers attack their servers and get all such data, Further, they sell this data on the dark web. Scammers purchase the data from the dark web and then further use it to target victims as per their targeting approach. Now let’s understand how they target…

1:- To less literate person:- 

Scammers target such innocent people by providing them miss misinformation and convincing them to share the OTP, For example, they will call the victim and pretend like they are calling from the bank. They will say that your bank account may get closed because you have not done any transactions for so long time, or they will say, your debit card will get blocked, to stay active you have to complete some steps on the call itself. Now victim fo believe the story and get agree with the scammer to complete those steps. The scammer asks for his name, address, debit card number, and CVV, etc, at the end asks for the Otp which the victim gets on his phone number. Victim share the OTP, that’s it. Money gets debit from a bank account. It’s just one example, they target such innocent people in many ways. 

2:- To Unemployed People:- 

Unemployed people, looking for a job, or someone who is doing the job but looking for extra income become easy targets for scammers. Scammers target them with work-from-home opportunities. Usually, people fall into such traps, as they get an opportunity to earn money, let’s take one recent example, scammers message people on WhatsApp to do a work-from-home job, which is very simple, person has to perform some task and for each task he completes he will get some money for it, let’s suppose its 1 USD for each task. It seems very genuine and does not seem like anything wrong with it, people will think that it’s not a scam because in this they will able to make money.


Now people get to agree with the scammer and start working… that person performs some task and the scammer pays him in actuality. The person gets happy as he is earning now. He again performs tasks given by scammers and earns money. Till now everything has been fine, now the scam will start. As that scammer has already earned the trust of that person. Now scammers come up with an offer to that person, if he wants to earn more, he can take membership in this work-from-home business. After taking membership he can earn 2000 USD every month. A person gets convenience and pays the membership amount. The scammer gets the money and after that immediately blocks the victim. This way they scam unemployed people. 

3:- Target Rich people:- 

Rich people are targeted by very professional scammers, especially those who have enough resources to deal with rich people. Rich people are targeted in the following ways:- 

1:- By offering fake business opportunities. 

2:- By hacking their devices

And many more ways, this involves a large amount of scams. Many cases were reported recently where rich people were victims of scams. 

Doesn’t matter who you are, if you are not well smart or know about such scams. It’s really hard to stay safe from scammers. 

Now let’s discuss easy-to-follow steps to avoid scams

Watch Out for False Promises:

Scammers come up with exciting offers, claiming that you can make easy money by working from home. They might ask you for a membership fee but disappear once you pay them. Be cautious of too-good-to-be-true deals, and always do thorough research before parting with your money.

Beware of Tricky Apps:

Some scammers try to hack your phone by convincing you to install dubious or malicious apps. These apps can compromise your bank details. Always Stick to downloading apps only from reputable sources like official app stores and be wary of clicking on suspicious links.

Be Skeptical of Phone Calls:

Scammers may pose as representatives from your bank or a reputable company, seeking personal information, including One-Time Passwords (OTPs). Verify the legitimacy of the call before sharing any sensitive details to avoid falling prey to their tactics.

Safeguarding Your Information

Your phone number is more than just a set of digits; it’s a key piece of your identity. Scammers exploit this by obtaining personal information through various means, such as data sales on the dark web. To protect yourself and avoid scams, treat your phone number with care and avoid sharing it indiscriminately.

Practical Tips to Dodge Scams

Dual Bank Accounts:

Maintain two separate bank accounts – one for daily transactions with limited funds and another for savings. This ensures that even if scammers gain access to one account, they won’t have access to all your money.

Utilize a Second Phone:

Acquire a second phone with a distinct number exclusively for your primary bank account. Only install the official banking app on this phone, excluding all other potentially risky applications. Keep it simple and secure.

Guard Your Number:

Keep your secondary phone number confidential. Refrain from sharing it, even with family members, to enhance the security of your primary bank account will help you more to avoid scams.

Stay Informed for Ongoing Protection

If implementing the above steps seems daunting, the simplest way to shield yourself is by staying informed and answering your questions about how to avoid scams. Stay updated on the latest scams, understand their modus operandi, and share this knowledge within your circle to create a collective shield against potential threats.

Conclusion: Your Shield Against Scams

In an era dominated by digital transactions, staying vigilant is key to safeguarding your finances to avoid scams. By understanding common scam tactics, treating your phone number as a valuable asset, and following straightforward steps to secure your financial accounts, you can significantly reduce the risk of falling victim to scams. Stay sharp, stay informed, and empower yourself against the evolving landscape of digital fraud. To stay updated from scams, make sure you download the Verifyscams app from the Google Play Store and follow our WhatsApp channel. keep using



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