Millions of people fall prey to scams every year. If you aren’t careful, you or your business could be next. In fact, every time you go on the internet, you expose yourself to all types of scams. The most common sources of scams include:

• Phishing
• Online Shopping
• Social Media Games
• Identity Theft
• Investment and Financial
• Romance and Online Dating
• Lottery and Sweepstakes
• Charity
• Employment

Learning about scams is everyone’s responsibility. Not only can this knowledge keep us safe, but it can also protect our family members and finances. Take this quiz to see how much you know about scams.

1. What is phishing?
a) A type of fishing technique
b) A scam where individuals pretend to be a trustworthy entity to deceive victims into providing sensitive information
c) A fraudulent investment scheme
d) A type of cyber-attack that targets computer networks

2. What is identity theft?
a) The act of stealing someone’s physical belongings
b) The use of deception to trick individuals into giving up their personal information
c) A technique used by hackers to gain unauthorized access to computer systems
d) The illegal sale of counterfeit goods

3. Which of the following is a red flag of a potential scam?
a) Pressure to make an immediate decision or payment
b) A legitimate business with a professional website
c) An offer that seems too good to be true
d) A well-known charity asking for donations

4. What is a Ponzi scheme?
a) A pyramid-shaped investment scheme
b) A type of scam where victims are tricked into investing in a non-existent business
c) A fraudulent operation that pays returns to existing investors from funds contributed by new investors
d) A technique used by hackers to gain access to personal data

5. What is ransomware?
a) A fraudulent scheme where victims are held for ransom
b) A type of scam involving the theft of credit card information
c) A malicious software that encrypts files on a victim’s computer and demands a ransom for their release
d) A technique used by hackers to steal passwords

6. What is the best way to protect yourself from scams?
a) Avoid using the internet altogether
b) Share personal information freely to establish trust
c) Be cautious when sharing personal information online and verify the authenticity of requests before providing any sensitive data
d) Ignore any suspicious emails or messages without taking any action

7. What is a phishing email?
a) An email that offers a great deal on a product or service
b) An email that contains a virus or malware
c) An email that attempts to trick recipients into revealing sensitive information by pretending to be a legitimate source
d) An email that requests urgent assistance in transferring money

8. What is a pyramid scheme?
a) A type of scam where victims are tricked into investing in a non-existent business
b) A scheme where individuals purchase products in bulk and sell them for a profit
c) A legitimate investment strategy that yields high returns
d) A fraudulent operation where participants earn money primarily by recruiting new members

9. What is skimming?
a) The act of taking small amounts of money from a bank account
b) A type of scam where hackers gain unauthorized access to computer systems
c) A technique used by identity thieves to steal credit card information by installing devices on payment terminals
d) A fraudulent investment scheme involving fake stocks

10. What is a common warning sign of an investment scam?
a) Guaranteed high returns with no risk
b) Investment options from reputable financial institutions
c) Transparent and well-regulated investment markets
d) A diverse portfolio with a mixture of high and low-risk investments

How Did You Do?
Now that you’ve taken the quiz, let’s review the correct responses and how you can avoid each type of scam.

1. Phishing: (b) A scam where individuals pretend to be a trustworthy entity to deceive victims into providing sensitive information

Ways to avoid a phishing scam:
Update your devices with the latest software.
Protect your personal information.
Avoid clicking suspicious email links.
Maintain a healthy level of skepticism when checking your email or text messages.
Verify the sender’s identity.

2. Identity Theft: (b) The use of deception to trick individuals into giving up their personal information

Ways to avoid identity theft:
Shred important documents.
Avoid clicking links and downloading attachments from entities you don’t know.
Monitor your credit report and financial statements.
Secure your digital devices.
Use strong and unique passwords.

3. Red Flag of a Potential Scam: (a) Pressure to make an immediate decision or payment and (c) An offer that seems too good to be true

Ways to spot red flags for a scam:
Be wary of offers that promise unrealistic results.
Research an offer before making a decision.
Make payments using secure payment options.
Gather information about the company that’s making the offer.

4. Ponzi Scheme: (c) A fraudulent operation that pays returns to existing investors from funds contributed by new investors

Signs an offer is a Ponzi scheme:
Undue pressure to recruit others
Opportunity relies on new investors to fund it
Overly complex or secretive operations
Lack of a clear investment strategy
Unusually high and consistent returns

5. Ransomware: (c) A malicious software that encrypts files on a victim’s computer and demands a ransom for their release

Ways to avoid malicious software:
Visit reputable websites and be cautious when interacting with websites.
Install strong software and update it regularly.
Download content from trusted sources.

6. Best Way to Protect Yourself from Scams: (c) Be cautious when sharing personal information online and verify the authenticity of requests before providing any sensitive data

Ways to protect yourself from scams:
Stay informed about common types of scams.
Verify the authenticity of individuals and businesses before providing your personal information.
Guard your personal information.
Trust your instincts if something feels off.

7. Phishing: (c) An email that attempts to trick recipients into revealing sensitive information by pretending to be a legitimate source

Ways to guard against phishing scams:
Be wary of unsolicited requests for personal information.
Examine the email sender and URLs.
Enable multi-factor authentication when possible.
Update your web browser, computer security system and software.

8. Pyramid Scheme: (d) A fraudulent operation where participants earn money primarily by recruiting new members

Ways to avoid pyramid schemes:
Be able to recognize the structure of a pyramid scheme.
Research the company, sales and its products.
Evaluate the company’s compensation plan.
Consult with a trusted advisor before investing in a company.

9. Skimming: (c) A technique used by identity thieves to steal credit card information by installing devices on payment terminals

Ways to avoid a skimming scam:
Use contactless payments or chip cards.
Regularly monitor your bank accounts.
Use payment terminals in secure and well-monitored areas.
Cover the keypad when entering your PIN to prevent hidden cameras from capturing your information.
Inspect card readers before using them. Look for signs of tampering such as loose parts and any signs of forced entry.

10. Warning Sign of an Investment Scam: (a) Guaranteed high returns with no risk

Ways to prevent getting involved in investment scams:
Avoid unregulated and unregistered investments.
Don’t invest in suspicious companies or individuals.
Verify the registration status of the investment.

Remember, prevention is key when it comes to protecting yourself from scams. By being proactive, staying informed and using your judgment, you can significantly reduce the risk of falling victim to fraudulent activities.