If you’re like most people, you feel pretty confident that you won’t fall for a scam. And, if you’re like most people, you just might.

Scams today are very sophisticated using all the tricks AI and technology can offer. And, perhaps not surprisingly, scammers target people who are intelligent and sophisticated because these are just the people who don’t think they can be scammed, so their guard is often lower than people who feel like they are always being targeted and cheated. When you think about it, it really makes a lot of sense. Cults do the same thing. They target very secure, educated and intelligent people who tend to be quite trusting because life has not given them a whole lot to be skeptical of, so their “skepto-meter” may be a bit rusty. Regardless of who you are, you are a potential target for scammers and the more you know about the tricks of their trade, the better able you will be to avoid falling into their traps.

Be on the lookout for these very common scams:

1. Imposter scams
2. Investment scams
3. The taxi scam
4. Phishing scams
5. Identity theft scams

Imposter scams

These usually involve people pretending to be someone they’re not, like a bank official, a family member in distress, or a government agency representative. The goal is to get your personal information or money. Today, and almost for certain in the future, this scam is run through AI on the phone or through written communication.

This scam takes many forms with the “family member” scam being one of the most commonly known. In this case, a person (oftentimes elderly) receives a call from a family member expressing that they are in trouble and need money right away! AI can make the “voice” very real through audio or text. It can be quite easy to fall for this scam since you would naturally want to help. One of the easiest ways to stop this scam in its tracks is to have a “trick” question ready that the real person would know is not a question that can be answered, while the fake “person” will attempt to answer. For example, if your grandchild doesn’t have a driver’s license, you can ask them what kind of car they drive. If they live in a house, you can ask them what floor their condo is on. You can ask in which year they traveled to the Grand Canyon (knowing full well they’ve never been to the Grand Canyon). Get the idea? It’s a perfectly natural question…and only the real person would know that it’s not a real question. If the “person” who contacted you cannot provide an adequate answer to your question, simply hang up, or put them on hold and contact local police.

Investment scams

These scams have changed a lot over the years. Today you are more likely to be a victim of an investment scam through a third party like GoFundMe and other charities. These “fake” appeals for money often involve sob stories, giveaways and investment opportunities that appear too good to be true. The real motive behind these fake fundraisers is to gain access to your personal information. Once this information has been secured, AI can step in and create all kinds of havoc using your name from basic fraud to extortion, or worse!

The taxi scam

You’re walking down the street, minding your own business when a young person (probably a teenager) gets out of what appears to be a legitimate taxi and ask if you can pay their fare with a credit or debit card, and they will give you the cash. “Apparently” the taxi will not accept cash, and the “child” doesn’t have a credit card. In an act of good faith, they give you the cash right away – it’s a small amount…maybe $10. You have the cash, so where’s the harm? The harm is that it is not a real cab and the person scamming you just wants your credit card so they can use a duplicating machine in the vehicle to copy your card and then proceed on a spending spree before you are even aware your card has been compromised.

Phishing scams

Phishing scams can come at you in many ways, but the most common is through email or text. You receive a message from a source you know…say, your bank, the government, a retailer you do business with, or a website you visit. While the message content can vary, there is always a link that you are requested to click. Often the message will request that you do an update to your account or that you have been selected to receive a prize. There is always a sense of urgency and a threat for not acting. The link will take you to the necessary site to do the action required. If you open the link, you potentially open a portal for the scammers to get your information. DO NOT CLICK THE LINK. EVER. If you think that the communication may be authentic, contact the sender yourself by telephone or email to confirm. Also, be sure to check the email address the message is coming from. At first sight it may appear legit, but upon closer examination, you may notice the letter “s” is replaced by a “5,” for example. Same with any URLs you are asked to click on. Check them carefully for misspellings, numbers instead of letters and odd extensions after the final dot.

Identity theft scams

These can come at you in many different ways. Any opportunity a criminal has to get at your personal information, they have the opportunity to steal your identity. Once they have your personal information, they can access things like your bank account and credit cards. They can take out loans in your name or even purchase property leaving you holding the debt. You can help avoid identity theft by never sharing personal information like your Social Insurance Number with anyone, unless it is in an official and necessary capacity. Shred any papers containing sensitive information. Use strong passwords for all online activity and change them often. You can help limit the amount of damage done, should you be a victim of identity theft, by catching it early and putting an immediate stop to the fraudulent activity. You can so this by regularly checking your credit reports for a sudden and unexpected change in rating, monitor your bank statements for suspicious activity, and check your credit card statement carefully against receipts.

Every single one of us is a potential victim of a scam. The best way to protect yourself is to be aware of these scams and put safeguards in place that will help you avoid them or at least limit any damages should one happen to you.