George Kamel - Money Scams to Watch Out For in 2024

Episode Date: December 11, 2023

According to the FTC, consumers reported losing nearly $8.8 billion to scams in 2022. And cyber criminals keep switching up their scamming tactics based on current events and the constantly changing digital landscape. In today’s video, we’ll talk about some of the scams to watch out for in 2024 and how to keep your bank account from being cleared out by these cunning crooks. Links: Better Business Bureau Scams HQ Preorder George Kamel’s new book, Breaking Free From Broke, and get more than $100 in FREE bonus items. EveryDollar Budget Deal: I love a good deal, when you sign up using this link, I’ll hook you up with a 14-day free trial and $15 off your first year of the premium version of EveryDollar. Learn more about your ad choices. Visit megaphone.fm/adchoices

I just have a very exciting offer. Okay, let me get this straight. I need to wire $5,000 to Nigeria via Western Union so you can unfreeze your account, and then you'll send me the $4.2 million of your royal inheritance. Amazing, right? Well, it won't be that fast, but it will... It will be that easy.

Okay, seems legit. What's up, guys? I'm George Camel, and according to the FTC, consumers reported losing nearly $8.8 billion to scams in 2022. That's an increase of $4,000. more than 30% over the previous year. And it's not just meemaw and pop pop getting conned by cybercriminals. It's boomers, millennials, and yes, even Gen Ziers.

That's because these shady swindlers keep switching up their scamming tactics based on current events and are constantly changing digital landscape. So in today's video, we'll go over some of the scams to watch out for in 2024 and reveal some of the sneaky tactics scammers are using to trick people. But first, hit that like button, subscribe to the channel, and share this video with all of your friends, including that nice Nigerian prince who emailed

you this morning. Remember, he said your reply was urgent and most requested. Okay, before I give you some tips for protecting yourself from scammers, let's go over some of the types of scams to watch out for and how they get your money. First up is crypto scams. I know, those two words are a little redundant. Despite everything that's happened in the world of crypto, it continues to draw people in, just like the Bachelor franchise. Maybe they're looking for a way to get rich quick, or maybe they just enjoy the thrill of losing a but ton of money. knows. Whatever the reason, cryptocurrency scams are out there and they can happen in all kinds of ways. In some cases, scammers set up fake websites that look like popular crypto sites, hoping to get people to send them money.

So, these people think they're buying crypto, but they're actually just donating money to a cybercriminal. Good luck writing off that charitable giving on your taxes. That's not a write-off. Another thing they might do is prey on people's fear of missing out on a lucrative crypto-investment opportunity. They'll create a fake early investment situation, promising massive retirement. and pitch it to people online. But instead of massive returns, you get massively robbed. Oh, snap. Next up, student loan forgiveness scams.

Scammers know people are desperate to get their loans forgiven, so they'll make fake forgiveness applications sites, which are actually just a way to get your personal information, including your social security number and bank account info. And they often get people to these sites by sending urgent text messages or emails trying to convince broke college grads slurping down ramen noodles that it's their last chance to apply. Shame on you, scammers.

Shame on you, scammers. Shame on you, if you're watching. Wait, are they learning about the scammers are learning that I know about scams. I know, you know, I know. They're on to me. Next on the list is romance scams. And now I'm not talking about Love Island, UK, although Love Island, Australia was clearly better.

Please give me a private case. With the growing popularity of dating apps, this kind of scam is becoming more and more common. Here's how it usually goes. First, a scammer creates a fake dating profile. Then they use things like witty banter and mirror cell to reel in an unsuspecting victim, just like they reeled in that largemouth bass

in their profile photo, which they actually didn't do because it's not a photo of them at all. The only fishing they've done is catfishing. Deal with it. Editors, make that happen. Deal with it. Anyway, once they steal their victim's heart,

they steal their cash by asking them to send money or buy them stuff due to some weird life circumstance. And this type of scam really sucks for the poor scammee. That's what I'm calling people who are scammed. Just go with it. It's just extra sad. because now they've lost money and a shot at true love. Why is everybody afraid of love?

Love! Next up, online purchase scams. If you buy something online and it never shows up, you might be a victim of this type of scam. Scammers will often sell stuff on sites like Craigslist and Facebook Marketplace or even set up fake online storefronts, take your money and then simply never deliver what you order. Now, don't get me wrong, I love Facebook Marketplace

just as much as the next suburban mom. You can get some great deals there, but you have to be careful. One of the most recent versions of this is the puppy scam. Here's how that one goes. You find a dog you love online at a great price, almost a too good to be true price. You answer a bunch of questions about yourself and then the seller's like, oh, I'm in another state, I'll need to ship this Frenchie to you. And they pretend to run your card as payment until you didn't go through,

and then offer to take payment through a cash sharing app like Zell or Venmo. Then you wait for the dog to show up like we all waited for Shadow to come back at the end of Homeward Bound. Except in this case, it's not a happy ending. The Frenchie never shows up. because you got Happy scams. All right, next on the list is app scams. And no, I'm not talking about how I think appetizers are a scam,

even though they are. I'm not paying $16 for a tiny lamb meatball. Rip off! I'm talking about applications on your phone. Now, scammers have figured out how to make almost identical copies of certain popular apps, so your in-app purchase might actually be going to a scammer. They'll even create apps that steal your personal info

once you download them. Talk about innovation that excites. It's riveting. And sometimes scammers will, also use totally legit apps as part of their con. Here's an example. There's a recent scam where people get a call or text from someone claiming to be their bank's fraud department.

The scamer tells them someone has stolen money from their account, but they can get it back by sending themselves money using an app like Zell, which is a totally legit app. But the scammer walks the victim through a series of steps that actually puts the money in the scammer's account instead. Sneaky, sneaky, sir. Don't fall for it. Don't fall for this crap. Next up, job scams.

Now, this is where scammers pose as real business. and companies, they give fake job offers, and they steal people's money in the process. Here's one way they're doing that. They'll post a fake job description on a legitimate website using the name and logo of a real company. Let's say Hot Topic. When someone applies, they'll do a fake phone interview and then send them an official-looking offer letter.

They'll even include info like PTO and benefits to make it seem super legit. They also ask for your bank information to set up direct deposit. And that's where they get you. Next thing you know, your bank account is empty and you still don't have a job selling a expensive t-shirts to middle schoolers. So how do you avoid these scams? Well, there's a bunch of things you can do to protect yourself from cybercriminals.

All right, let's get into it. Number one, change your passwords. I know you don't want to do it, and it's a huge hassle, but it's a good idea to change passwords for your important accounts every 90 days. And by important, I mean things like email, social media, and bank accounts. You can make it a good, hard-to-guess password

by using a long phrase that includes uppercase, lowercase letters, numbers, and special characters. Something like, Love That HotDoccom, underscore 1987, but the E is a 3, and the O is a zero, and you get the idea. Also, if you ever get notified about a data breach, that means your password could have been leaked and you need to change your passwords immediately to be safe. And while you're at it, set up two-factor authentication on every site and app possible. This creates an extra layer of security and makes it harder for scammers and hackers to

get your personal info. Number two, pay attention to your emails. If you get an email from a sender you're unfamiliar with, don't open it and don't click on any links until you know more about where it came from. Just one click of a link can download malware onto your computer or smartphone, giving cybercriminals access to your device and the ability to steal your identity. Now, sometimes these emails appear to be urgent coming from someone you know, so you got to be extra cautious. All you need to do, slow down and ask yourself, would Gary and shipping really be asking me to wire money to Somalia? Actually, yeah, that's something Gary would do.

And by the way, if someone asks you to use a wire transfer, money order, prepaid debit card, or especially a gift card, that is a telltale sign of a scam. Those forms of payment can't be traced, so once you send the money, it's gone. You ain't getting it back. No, no, no, no, no. Number three, don't engage. At this point, it seems like scam calls and texts are just a part of life. And most of the time, they're easy to spot because things will be misspelled, sentences will be worded in odd ways, or it's coming from a strange source like a Nigerian prince, the Chinese consulate, or Ben Affleck. And sometimes it's tempting to answer these calls or reply to these texts or click the link, either to check to see if it's legit or just to give them a piece of your mind.

But don't do it. Not worth it. If you answer the phone or reply to a scammer's text, you're letting them know your number is active and they can target you with future scams and sell your data. So when your iPhone says you've got an incoming call from your old friend potential spam, just let it go to voicemail. And if you want to make sure it's legit, here's what you need to do. Go to the official website of the company they claim to be with.

then get in touch with them through the number or email listed on the official website. Number four, check your bank account daily. Now, most banks will let you know if they see any suspicious activity in your account. But in case they miss anything, it's still a good idea to log in every day to make sure there aren't any weird transactions. Like, say, a $590 charge from Hot Topic. That's a heck of a lot of studded belts and ironic mugs with slightly irreverent sayings on them. Now, all of this might sound like a hassle, but if you use your bank app, it's super easy and quick. Especially if you have touch ID or face ID.

Just open the app, give it a scan, look it over, close it. Bada bing, bada boom. He bittabing this. Another way you can keep tabs on your account is by setting up automatic purchase alerts so that you get a text or email when money comes out of your account. Now, the only downside here is your wife will know just how often you visit T-CVY. Treat yourself. In this case, the YS stands for yikes.

Number five, trust your gut. If something seems a little off about an email, an ad, a job posting, or even a person you see on Hinge holding a rainbow trout, very close to the camera, listen to that spidey sense. When in doubt, don't click on or agree to anything that seems suspicious. If you think something's a scam but you're not sure, have someone else you trust weigh in and help you do a little detective work. Now, the Better Business Bureau is a great resource for this. They have a scam tracker tool on their site

that you can use to look up scams and report one if you've been targeted. You can also check out their in-depth scam studies to get a better understanding of how each of these scams work. I'll drop a link to that below if you want to check it out. And number six, one final bonus tip for you. If you're buying a puppy, please do it in person because you don't want to fall for a... Okay, so the things we've covered here today are straight up crooked, shady scams run by dishonest people.

We're talking illegal activity here. But there's other money traps you gotta watch out for that are perfectly legal and used by companies all the time. I've got a whole chapter on these and my new book, Breaking Free from Broke, which is available for pre-sale right now. And you can get a copy with the link in the description below. As always, be sure to like, subscribe and share this video with your friends who will no doubt shed a tear at the thought of shadow walking over that hill. What a good boy. Thanks for watching. We'll see you next time.