Scam & Fraud Protection: free beginner lessons
Scam & Fraud Protection is a FinCon topic with 4 short lessons. Protect yourself from financial scams, identity theft, and fraud. Each lesson takes about five minutes and ends with a quiz.
What will I learn in Scam & Fraud Protection?
You will work through: Recognizing Common Scams, Protecting Your Identity, Online Safety & Passwords, Spotting Investment Scams.
What is in each Scam & Fraud Protection lesson?
Recognizing Common Scams
Americans lost over $10 billion to fraud in 2023. And it's not just the elderly—young adults (20-29) report fraud MORE often. 🚨 Top scam types: • Phishing (fake emails/texts) • Investment scams ("guaranteed returns") • Romance scams • Impersonation (IRS, tech support, banks) • Job scams ("work from home, $5K/week!") Scammers are smart. Knowing their tactics is your best defense.
Every scam shares common warning signs: 🚩 Urgency — "Act NOW or lose everything!" 🚩 Too good to be true — "Guaranteed 50% returns!" 🚩 Pressure — "Don't tell anyone about this" 🚩 Unusual payment — Gift cards, wire transfers, crypto 🚩 Personal info requests — SSN, passwords, PINs 🚩 Unsolicited contact — You didn't reach out first 📌 Rule: If it creates panic or excitement, PAUSE.
Which is a red flag that something is a scam? No legitimate business or government agency asks for payment in gift cards. This is one of the biggest red flags!
Priya got a text: "Your bank account has been locked due to suspicious activity. Click here to verify: bit.ly/bnk-verify" It looked real. But Priya remembered the red flags: • She didn't initiate contact • The URL was shortened (hiding the real destination) • It created urgency and panic Instead of clicking, Priya called her bank directly using the number on her card. The bank confirmed: her account was fine. It was a phishing attempt.
Never click links in unexpected messages. Always verify by contacting the company directly through their official website or phone number.
You receive a call from 'the IRS' demanding immediate payment. What should you do? The IRS ALWAYS contacts you by mail first and never demands immediate payment over the phone. This is a classic scam!