The “Red Flags” of a Scam Can Alert You to Pending Danger

We’re used to hearing “red flag” conditions. Hopefully, we know they indicate a dangerous situation or risky conditions ahead. Scams have red flags too, but they’re not quite the same. Let’s see why.

Here are some examples we’re familiar with:

• Red flag fire warning: In California, for instance, when temperatures are high, humidity drops, and winds start to gust, the State issues a red flag warning, which means the chance of a disastrous, fast-moving fire is high.
• Red flag beach conditions: When there are high waves and dangerous swimming conditions (for the average beachgoer), lifeguard stations will put out red flags to warn the public to stay out of the water.
• Red flags for boaters: The sailing and boating community uses various flags for communication. A red flag tells a boater that hazards and even restrictions are ahead. It could save a boater from dangerous currents, shallow waters, and more.

What about for consumers about scams? That’s the topic we’re exploring here.

Actually, a red flag is meant to be more than a warning.

When you see or hear of a “red flag” condition, it’s meant to alert you that “things aren’t normal” or as usual.

For example, during red flag fire conditions, people must be extra cautious about igniting a fire in woody or mountainous areas. They are alsosupposed to be careful with lit matches or cigarette butts in dry areas, starting campfires, or engaging in activities that create sparks and could ignite a fire. It’s a warning that this type of danger is possible, so you must proceed with caution.

When we hear of these warnings, we’re supposed to proceed cautiously, change our plans, and maybe even change our activities or behavior.

If you fail to heed a red flag warning, you’re putting yourself in a dangerous situation.

Every scam gives clues that signal “danger ahead.”

Skilled, heartless professional criminals perpetrate scams and schemes. The bad news is that scams happen every minute of every day.

Here’s the good news: Only 1 -2% of scam attempts find a victim. Why is that? Maybe it’s because many people have learned to spot and avoid scams. In other words, people have learned to spot the red flags of scams.

If you fail to follow a red flag weather warning, you’re putting yourself in a dangerous situation.

If you fail to spot the red flags of a scam in time, you’re putting yourself at risk of losing money.

Every scam has them, and you must know how to spot them.

No matter how they differ, all scams have a few things in common: a scam reveals itself at some point in the deception.

In other words, there are apparent and subtle clues that can tip you off that 1) you’re in a scam situation or 2) there is the potential for danger ahead.

Cybersecurity experts refer to these clues as red flags of a scam. However, there is a significant difference between seeing a red flag of a scam and the familiar warnings we’re talking about.

• With actual red flag warnings at the beach in the mountains or on a highway, people are putting out flags to warn you. Then, it’s up to you to see the flag, know what it means, and act accordingly.
• Also, people hear about these warnings more than they see any red flags. With hurricane threats, for instance, TV and radio outlets will get the word about red flag conditions and advice to follow.

The red flags of scams: You can’t see them, so you must know or sense them.

• With real-time scams, there are no physical flags to warn us. A scammer will want you to believe everything is okay or that you’re doing the right thing. (Sadly, criminals use “red flag” warnings to scare a target into being scammed, like when they pretend to be from your bank and say that your accounts are being drained.)

You have to spot the red flags of a scam.

No one will do it for you.

To avoid a scam, spot the “virtual red flags.”

That’s how to do it. However, it’s not that simple. You first have to learn what they are. This can be complex because scams often have different strategies and approaches. But even though that’s not simple to do, it’s attainable. 

• One way to start is by simply Googling scams and their unique red flags.

For instance, you can search for “the red flags of a romance scam,” which will provide a wealth of information. The same goes for imposter and investment or cryptocurrency scams, and you’ll be on your way.

• You can also find resources online. Numerous government websites provide excellent information on new and trending scams and advice for spotting and avoiding them. FTC.gov (the Federal Trade Commission) and SSA.gov (the Social Security Administration) are government websites providing information. AARP.org also gives invaluable help to consumers.

Be aware of areas where danger lurks.

Also, it would be a good idea to tread lightly in situations where dangerous conditions might lurk. If you were going to swim in waters where sharks lurk, you’d check the news for that day. If you were going to invest in cryptocurrency (or someone urged you to), you’d be wise to do some research and homework first.

Visit Easyprey.com and follow the Easy Prey Podcast.

The EasyPrey.com website provides a blog and podcast focusing on scam topics and consumer advice. You can sign up to be alerted whenever a new podcast is posted. The Easy Prey Podcast features national experts on fraud, scams, and cybersecurity. Chris Parker, CEO of WhatIsMyIPAddress.com, hosts the podcast.

The more you learn and know about scams, the better your chance of not becoming a victim.