Scammers do not need to hack anything if you hand them the key. Most money scams work the same way: they create urgency, pretend to be someone you trust, and ask you to act before you think. Once you can see the pattern, they become much easier to spot.
This article is the reading companion to the free Mondosol lesson Money Matters: Scams & How to Spot Them, part of the Money course. Read it, watch the videos, or press play and listen first, then practise in the lesson.
Free: create your free Mondosol account to practise this lesson and track your progress.
In this article
Seven warning signs of a scam
- Urgency. “Act now or your account will be closed.”
- Pressure to keep it secret. “Do not tell your bank or family.”
- Unusual payment methods. Gift cards, crypto or transfers to a “safe account”.
- Too good to be true. Guaranteed returns, free money, prizes you never entered for.
- Requests for codes or passwords. A real organisation does not need your one-time codes.
- Links in unexpected messages. Especially short links or look-alike web addresses.
- Bad or strange wording. Not always, but worth noticing.
Common types of scams
| Type | How it works | What to do |
|---|---|---|
| Phishing | A fake email or SMS pretends to be a bank, tax office or delivery firm and sends you to a fake login page. | Do not click. Go to the real website yourself. |
| Impersonation call | Someone calls “from the bank” or “from the police” and says your money is at risk. | Hang up and call the number on your bank card. |
| Investment scam | Promises high, safe returns, often with fake celebrities or fake dashboards. | Check that the firm is authorised by the financial regulator. If it sounds too good, walk away. |
| Romance scam | A new online “partner” slowly builds trust, then asks for money. | Never send money to someone you have not met. |
| Marketplace scam | A buyer or seller wants to move the deal outside the platform. | Keep payment and chat inside the platform. |
What real organisations never ask for
A bank, tax office or police officer will not ask you to share a password, a one-time code, or the codes from your banking app. If someone does, it is a scam, even if they know your name or address.
Examples from Norway
- BankID. BankID says to keep it private. Lending it out can let someone take loans, make payments or reach health information in your name. If you think someone has used your BankID, contact your bank immediately so it can be blocked.
- Skatteetaten (Tax Administration). It says fraudsters send SMS and email that pretend to come from the Tax Administration. It does not ask for card details, security codes or copies of your passport by SMS or email, and does not send links that way. Log in only via skatteetaten.no or altinn.no. If in doubt, call 800 80 000.
New in Norway? Our guide How to Check Your Credit Score for Free in Norway shows how to look at your own information safely.
If you already clicked or paid
- Stop. Do not reply or send more money.
- Call your bank straight away, using the number on your card or the official website, and ask them to block cards or access.
- Change passwords for the affected accounts, starting with email.
- Keep screenshots and messages as evidence.
- Report it to the police and, where relevant, to the organisation being impersonated.
Do not feel ashamed. Skilled criminals catch smart people every day, and speed is what limits the damage.
Four habits that protect you
- Pause for ten minutes before any urgent payment.
- Verify through a second channel you trust.
- Use a unique password and two-step login for email and banking.
- Talk to someone about any “opportunity” before you send money.
Watch: how to avoid phishing scams
Two short videos explain how phishing works and how to react. The examples may come from other countries, but the signs are the same everywhere.
Video: “How To Recognize and Avoid Phishing Scams | Explained | Cybernews” by Cybernews, on YouTube.
Video: “What is Phishing? How Teens Can Spot and Avoid Online Scams! | CyberSafeByDami” by CyberSafeByDami, on YouTube.
Take it further
Reading is a good start. These options help you go from knowing to doing:
- Mondosol+: all courses, live coaching sessions and members-only events, with a 30-day money-back guarantee. See the plans.
- Banking & BankID in Norway 2026 (Newcomer Guide PDF): the right order for bank account, BankID and Vipps.
- Password manager: read our NordPass review to see if a password manager fits you.
- 1:1 coaching with Elio: a live session on Google Meet to turn this topic into your own plan.
Affiliate disclosure: the NordPass review page may contain affiliate links. If you buy through them, Mondosol may earn a commission at no extra cost to you.
Frequently asked questions
How can I tell if a message from my bank is real?
Do not use links or phone numbers in the message. Open your bank app or type the bank address yourself, and call the number on your card.
Will a bank ever ask for my BankID code or password?
No. Keep BankID, passwords and one-time codes to yourself. If someone asks for them, treat it as a scam.
Why do scams feel so convincing?
Criminals copy logos, use real names from data leaks and create time pressure so you do not stop to check. The pressure is the clue.
Is it a scam if the investment offers a guaranteed return?
Be very careful. Real investments carry risk, and a promise of high guaranteed returns is a classic warning sign.
Where can I report a scam in Norway?
Contact your bank first if money or codes are involved, then the police. For messages that pretend to be from Skatteetaten, use the reporting option on their fraud page.
Keep learning
- Course: Money
- Lesson (Practise it): Money Matters: Scams & How to Spot Them
- Read next: Make Money: Emergency Funds, Your Financial Safety Net and Make Money: Avoiding Debt Traps, How Interest Makes Debt Grow
Educational, not financial or legal advice. Facts on BankID and Skatteetaten checked on their own websites in October 2026; procedures can change. This post links to Mondosol review pages that may contain affiliate links (see the disclosure above).
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