Have you heard of the latest scams going around in the USA? The Federal Trade Commission (FTC) says that Americans lost more than $10 billion to the latest scams in 2023, a 14 per cent increase in reported losses from the previous year. However, the data shared by the FTC only reflects a small portion of the latest scams going around, as most fraud goes unreported. Protecting yourself from all kinds of common scams is essential for international students. This post takes you to new scams so you can learn about the tricks scammers use and be vigilant in your quest to live a more secure overseas life.
How Do I Know is This a Scam?
It is indisputable that studying in the USA opens the doorway to a future of unlimited possibilities. Students also need to recognize the likelihood of being exposed to various risks. Scams are a severe and shared risk, and current fraud prevention is essential for international students. How can you recognize a potential scam?
If It Sounds too Good to be True
This is particularly relevant to currency trading and new media scams. Fraudsters lure you with promises of substantial returns or benefits while assuring you of minimal risk.
Asking for Personal Details
Legitimate companies or institutions will never ask for personal details, full PIN codes, or passwords. If you are asked for your detailed information, run!
Feeling a Sense of Urgency
Be wary of any situation that pressures you to make an immediate decision. Scammers often create a false sense of urgency to prevent you from thinking clearly. Respectable institutions will always allow you to take your time and will not object if you hang up to verify their authenticity.
What are Some Types of Common Scams?
1 New Phone Scams
In an era where smartphones are prevalent, scammers have found several new ways to commit latest phone scams. Commonly, scammers pose as family and friends to gain your trust and money, both to deceive your feelings and penny. Or they commit false kidnapping fraud or pose as your friends and teachers to contact your parents or your friends, falsely claiming that you have committed a crime abroad and need to transfer money to deal with it.
2 SIM Swapping
What’s more, there is an easily ignored type of latest scam: SIM swapping or porting. Fraudsters use this technique to reassign your number to the SIM card of a cell phone under their control so that the fraudster can add himself to your account. As a result, he can use your account and bank card and open an account under your name. You will be responsible for the consequences and costs of the scam. Such a new scam needs to be taken seriously by international students.
3 Package Delivery Scams
Package Delivery Scams are the current fraud that needs your attention. When you order something online, you might get several emails or text messages about your order, such as “Please confirm your order.” They say your parcel is out for delivery and notify you about the delivery. Well, scammers send fake package shipments and delivery notifications to try to steal people’s personal information. Scammers send bogus messages by email or text. The message might say you missed a delivery and ask you to click a link to reschedule the delivery. They want you to click the link without thinking about it and enter your personal or financial information. But the site is fake. It is just a look-alike of an actual website. And it’ll capture all the information you enter. The link could also install harmful malware on your phone or computer that steals your information.
What are Some Types of Scams Targeting International Students?
1 New Media Fraud
Other types of scams, such as new media fraud, are serious latest scams to be aware of. Young international students use social media with an exceptionally high frequency. Whether it is WeChat, Facebook, Instagram, WhatsApp, or Twitter, these platforms are the “high fraudsters,” and young people are also easily fooled.
2 Currency Trading Scams
Currency trading scams are the common latest scams going around in the USA. When studying abroad, you’ll inevitably need to exchange foreign currency. However, be cautious of fraudsters who often advertise on social media, forums, and other platforms, offering to exchange currency at unusually low rates. These schemes are designed to lure in international students and others in need of currency exchange. While the convenience and potential savings may seem appealing, it’s crucial to understand the significant risks involved in private or online exchanges.
Some international students in the U.S. exchanged privately and were scammed of more than $160,00. Some foreign students in Russia exchange privately from unknown persons, and then the money is transferred to another person through their domestic account. The transaction amount from a large number of sources is unknown and is likely to be the proceeds of crime. Similar underground transactions have the “money laundering” suspicion.
3 Fraud by Impersonating a Staff Member
Fraud by impersonating a staff member is one of the most common scams. Scammers usually pose as university staff to scam you by sending scholarships, collecting tuition, or charging a guarantee fee for severe student-related reasons. Or they pose as an embassy staff or a police officer, claiming that your bank account and cell phone have been used fraudulently or someone in your country has received an illegal package from you. Or the Public Security Bureau has issued a warrant for your arrest, all in the name of the embassy or the police. The scammers ask you to download their designated communication software to make a video statement and send a fake arrest warrant to deepen your fear and continue brainwashing you. The scammers say you can post a bond if you don’t want to be arrested. If you can’t pay the money, you have to pretend that you have been kidnapped and ask your parents for ransom. Among the victims, one million dollars has been demanded, which is astonishing.
How to Avoid Latest Scams Going Around?
1 Educating Yourself and Significant Ones on Common Scam Tactics
First and foremost, your safety and property protection are of utmost importance. We urge you to remain vigilant at all times, not to listen to or believe in misleading information, not to gather with suspicious individuals, and most importantly, not to transfer money without proper consultation. When it comes to online purchases or logistics transactions, your vigilance is crucial. If you encounter any issues, always reach out to the official customer service through the original shopping platform for communication and confirmation. Avoid trusting unfamiliar text messages or links. Stay cautious, stay safe.
Second, it is essential to be vigilant when encountering unsolicited contact from staff claiming to be from embassies, consulates, or state agencies. To ensure safety, verifying with the relevant departments or communicating with teachers in your college for the first time is best to confirm the authenticity of their identity and purpose.
Finally, parents of international students should be reminded not to trust the words of strangers easily, especially when it comes to the safety of their children. When dealing with such situations, follow the laws and regulations, and do not freely disclose personal information or carry out operations such as money transfers to avoid more significant losses. Parents of international students are advised to communicate with their children regularly to understand their life and study situation.
2 Immediate Steps to Take After Falling Victim to a Scam
First and foremost, promptly contacting the university is crucial in protecting yourself and getting help, whether the problem is personal injury, ill health or a new scam. Faculty members are usually experienced in dealing with similar issues and can provide appropriate guidance and support to students.
After being cheated, it’s crucial to immediately contact your local embassy or consulate. They are there to provide you with guidance, support, and can even assist in contacting local authorities. It’s also important to inform your bank or credit card issuer about any fraudulent transactions to prevent further financial loss. Gather all relevant documents and materials related to the scam, including conversations, transactions, and any evidence that might help your case. Stay vigilant and informed. Remember, this setback should not dampen your adventurous spirit.
Conclusion
Staying vigilant and informed is paramount to protecting yourself from the latest scams going around. With new phone scams, SIM swapping, package delivery scams, new media fraud, currency trading scams, and fraud by impersonating a staff member on the rise, it is crucial to adopt proactive measures. Always verify the authenticity of any unsolicited contact, safeguard personal information, and stay updated on the latest scam tactics. In the end, experiencing current fraud is challenging and doesn’t reflect on your character or intelligence- it can happen to anyone. It’s essential to seek assistance. uhomes.com wishes all international students a safe and prosperous future in a foreign country.
FAQ
How to protect yourself against scams?
The first step is to educate yourself on the common types of scams and their warning signs. secondly,never share sensitive details unless you are certain of the other party’s credibility.
What are the latest scams to be aware of?
One new trend is that scams no longer rely solely on emails asking for personal information but now incorporate texts and calls, mimicking legitimate sources to an alarming degree.
How do I protect myself from imposter scams?
To protect yourself from imposter scams, be skeptical of unsolicited communications, never share personal information without verification, use strong, unique passwords, enable two-factor authentication, and stay informed about current scam tactics.
