![The Psychology Behind Online Scams: 5 Reasons Why People Fall For Them](/static/1719345502016.8674851821/ee682/intro.png)
Intro
In the digital age, online scams have become increasingly prevalent, targeting individuals from all walks of life. Whether you’re a student at one of the most prestigious universities or a senior who knows how to use modern devices, there’s no guarantee that you won’t become a victim of an online scam.
Scammers’ persistence, trickery, and greed leave no chance for those who aren’t aware of what’s going on in the digital sphere, and even those who are aware can fall for it, too. In fact, according to Forbes, people who think they’re too well-informed are more likely to become victims.
If you think you have nothing to worry about, let’s take a look at the statistics. In 2023 alone, Americans lost $12.5 billion to cybercrime. This is a 22% increase from the previous year, and who knows what 2024 will hold for scam victims.
But what are the reasons people fall for online scams in the first place?
5 Common Reasons People Become Victims of Online Scams
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Everyone’s got their weak point, whether it’s being too gullible or scared not to comply with the rules. Scammers know how to use this to their advantage, and most of their efforts are successful for one reason only—people’s lack of education.
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When one doesn’t know what phishing or an imposter scam is, it’s only a matter of time before they lose their money or worse—personal information.
So, let’s carefully delve into some of the most common reasons why people suffer the consequences of scams.
1. Trust in Authority
Scammers often impersonate authority figures or organizations to gain victims’ trust. They call, message, and email their victims on behalf of those who can somehow influence these people to send money or share personal information.
When people think they’re dealing with a trustworthy person or organization, they don’t think twice. They pull out a card from their wallet to tell their PIN or share their bank account login credentials to avoid, as they think, being punished for not paying taxes on time. Little do they know that after their money is stolen, there’s a very low possibility of getting it back.
Remember, no respectable reputable organization will ever call, text, or email you and demand money or personal information.
2. Urgency and Fear
One of scammers’ favorite tactics is urgency. They use it in combination with fear, making people think they owe someone a certain amount of money or that their tax payment is overdue. When a person also hears yelling, let alone threats, their rational thinking evaporates, and all they think about is how to satisfy the needs of someone who’s on the other end of the line.
Being scared and not knowing who to turn to for help, they willingly tell their personal information or send money to avoid being persecuted or punished for not complying with what they’re being told. This mistake has led people to lose thousands, if not more, of dollars.
3. FOMO
FOMO, or the fear of missing out, is an increasingly common phenomenon nowadays. It leads to depression, anxiety, and low self-esteem, and occurs when people fear missing out on the positive experiences others showcase. In other words, when something good happens to others, you want it to happen to you too. It could be a trip to another country or a nice job at a prestigious firm, and when someone posts about it on social media, those who want to get it too experience the fear of missing out.
Scammers capitalize on this, and call, text, or email people with investment opportunities, once-in-a-lifetime deals, sweepstakes, or lotteries.
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After hours of staring at the perfect pictures on Instagram or reading inspiring posts on LinkedIn , many don’t think twice about agreeing to something that they don’t know will deprive them of their money or even identity.
4. Greed and Desire for Easy Money
The allure of quick and easy money is a powerful motivator. Scammers use this method to steal money from unsuspecting individuals by offering them investment opportunities, lottery winnings, or simply clicking on a link that will transfer them to some website where they’ll be able to win money (in reality, they’ll only lose it).
Financial opportunities that don’t require any effort cloud people’s judgment, and they start sending money until there’s nothing left only to find out that they’ll get nothing in return.
5. Desire to Help Others
People not only fall for scams because they want to gain benefits. Sometimes they want to give, too, which is why they lose their money or identity to fraudulent individuals.
Charity fraud schemes seek money that goes into a fake charity’s creator’s pockets, and the mentioned cause, such as helping orphans or stray animals, doesn’t receive any funds at all.
Such scams are especially prevalent after disasters, such as earthquakes, floods, hurricanes, and wildfires, among others, as many people are especially willing to help others during difficult times. Scammers benefit from this by pretending to work for reputable charities, when in fact their only goal is to make a profit for themselves.
How to Safeguard Yourself From Online Scams
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Knowing why people become victims of scams isn’t enough. It’s also important to be aware of how to protect yourself. Here are some of the ways to do this:
1. Find Out Who’s Sending You Emails
Phishing, the practice of sending emails that appear to be from reputable companies, is one of the most common reasons people get scammed online. To know who’s actually sending you emails, reverse search the email address in question on Nuwber.
2. Don’t Share Personal Information
No matter how convincing scammers’ messages are, don’t ever share your personal information. This information includes your login credentials, credit card details, bank account credentials, Social Security numbers, and much more. If this data ends up in other people’s hands, you may become a victim of identity theft, which can lead to serious consequences. Learn essential tips and tools to safeguard your online activities and protect your digital presence.
3. Be Careful With Links and Attachments
Clicking on a link or downloading an attachment isn’t an innocent practice. Scammers use links and attachments to steal people’s data, and those who aren’t careful enough lose their hard-earned money because of an innocent click.
So, whenever someone sends you an email, make sure to check it carefully before clicking on what’s in it.
4. Stay Informed About the Latest Online Scams
One of the most effective ways to avoid scammers is to learn about their latest techniques. Subscribe to cybersecurity blogs, read people’s stories online, watch YouTube videos about cybersecurity—in general, try to educate yourself about emerging scams to protect yourself and your loved ones. Explore effective strategies, tools, and insights to protect your data and operations from cyber threats.
Conclusion
Online scams are very popular these days, and since scammers are successful in tricking people out of their money, a slowdown is unlikely to happen. Trust in authority, urgency and fear, FOMO, greed and desire for easy money, and a desire to help others are just some of the reasons people get scammed.
The only way to avoid this is to learn how to protect yourself. This can be done by finding out who’s sending you emails, not sharing personal information, being careful with links and attachments, and staying informed about the latest scamming techniques.