Scammers are constantly refining their tactics to steal personal information and money. Sadly, many people fall victim to these schemes, often facing financial loss and emotional distress. At Texans, your financial wellness is our top priority, which includes helping you stay safe from fraud. That’s why we’ve created this guide to help you recognize common scam tactics and how to protect yourself.

5 Red Flags That May Signal a Scam

While scams can take many forms, most follow a familiar pattern: they aim to trick you into sharing personal information or paying for something that doesn’t exist. Here are five common warning signs:

1. Requests for Sensitive Information Upfront

Scammers often ask for personal details like your Social Security number, date of birth, or online login credentials before processing an application for a fake job, service, or product.

2. Unusual Payment Methods

If someone insists on payment via wire transfer or prepaid debit card, it’s likely a scam. Legitimate businesses offer secure, traceable payment options.

3. Overpayment Scams

Receiving a check for more than the agreed amount and being asked to return the difference is a classic scam. The check will bounce, and you’ll be out the money you sent back.

4. No Online Presence

If you can’t find credible information about a company online, it’s a red flag. Scammers often create fake businesses with no digital footprint.

5. Pressure to Act Immediately

Scammers rely on urgency to prevent you from thinking critically. If someone is rushing you to make a decision, take a step back and verify their claims.

Who Do Scammers Target?

Scammers often cast a wide net, but these groups are especially vulnerable:

Job Seekers: If you’re looking for work, be cautious of unsolicited job offers, especially those that require upfront fees or personal information.

Older Adults: Seniors may be less familiar with online threats and are often targeted through phone or email scams. Regular conversations about online safety can help protect them.

Children: Unfortunately, children are targeted because they are naturally trusting and may unknowingly share personal information. Identity theft can go unnoticed for years, potentially damaging their credit before they even become adults. 

Common Types of Scams

Here are some of the most frequent scams to watch out for:

Cyberhacking: Hackers gain remote access to your device and steal personal data.

Phishing Scams: Scammers impersonate trusted organizations to trick you into sharing sensitive information.

Mystery Shopper Scams: Fake companies “hire” you to shop and report back, but first they ask for a fee you’ll never get back.

Fake Job Offers: Scammers “hire” you for a position and then scam you by sending you an inflated check and asking you to return the excess, leaving you liable when the check bounces.

Sweetheart Scams: A scammer poses as a romantic interest to gain your trust and money.

Fraudulent Investments: Promises of high returns on fake investments, designed to steal your money.

10 Ways to Protect Yourself and Others from Scams

Protecting yourself from scams starts with awareness in practicing smart habits. Follow these tips to stay safe and vigilant:

• Never share personal information online unless you’re sure of the recipient.
• Avoid opening unsolicited emails and never click on suspicious links.
• Don’t send money to unknown parties via insecure methods.
• Use strong, unique passwords and enable two-factor authentication.
• Keep your devices updated with the latest security patches.
• Set strict privacy settings on your social media accounts.
• Stay informed about the latest scams and how to avoid them.
• Teach your children basic online safety and privacy practices.
• Talk to elderly family members about common scams and how to stay safe.
• Don’t trust caller ID alone; verify the identity of anyone requesting personal information.

If something seems too good to be true, it probably is. Falling victim to a scam can have long-lasting consequences, so prevention is key. Stay informed, stay cautious, and don’t hesitate to reach out to Texans for support.

If you suspect you’ve been scammed, contact us immediately at 972.348.2000 (800.423.5295). We’re here to help.