Scammers do not need to be clever, they only need you to be rushed. The good news is that most scams share the same warning signs. Learn them once and you can spot them on your phone, in your inbox and in person.
This article is the reading companion to the Scams & How to Spot Them lesson in our free Money course. Read it here, watch the videos, or press play on the audio version above, then try the interactive lesson.
In this article
Why scams work
Scams work on emotions, not logic: fear, excitement, loneliness or the wish to help. A message that makes you feel panic or a rush of luck is designed to stop you thinking.
The simplest defence is a pause. Almost nothing legitimate is lost by waiting an hour to check.
The red flags
If you notice any of these, stop and check:
- Pressure: act now, last chance, your account will be closed.
- Too good to be true: guaranteed profits, free prizes, easy money.
- Unusual payment: gift cards, crypto or bank transfers to a stranger.
- Secrecy: do not tell your family or your bank.
- Odd contact: unknown sender, spelling mistakes, links that do not match the real website.
- Requests for codes or passwords: a real bank will not ask for them.
Common types of scam
Phishing messages pretend to be a bank, delivery company or tax office and point you to a fake website. Fake shops and marketplace deals ask you to pay first and then disappear. Romance and friendship scams build trust before asking for money. Investment scams promise fast, safe returns. Job scams ask you to pay for training or to move money for someone else.
What to do before you pay or click
Slow down and verify in a different way from the one the message gave you.
- Contact the company using the phone number or website you already know, not the one in the message.
- Search the offer together with the word scam.
- Ask a trusted adult or friend for a second opinion.
- Never share one-time codes, PINs or full card details.
- Use payment methods that offer buyer protection when you can.
If you think you were scammed
Do not be embarrassed. Many smart people are caught. Contact your bank straight away, change passwords, and report it to your local police or consumer authority. Keep screenshots and receipts. Acting fast gives you the best chance of limiting the damage.
Frequently asked questions
What is the most common sign of a scam?
Pressure to act quickly, often combined with an unusual way to pay.
Can a real bank ask for my PIN or one-time code?
No. Banks do not ask you to share PINs, passwords or one-time codes.
Can I get my money back after a scam?
Sometimes. Contact your bank immediately and report it. Speed matters.
How do I check if a website is real?
Type the address yourself, look for the correct spelling, read independent reviews and avoid links from unexpected messages.
Educational content only, not financial advice. Rules differ by country, so check official sources for your situation.
