Scams 101: How to recognize common scams and cyber threats

Though there are different types of scams, the objective is the same: to steal your money or information.

Scammers often use sophisticated tactics to commit fraud that make it hard to cancel or reverse the transaction.

If you send money to a scammer, you may not be able to get it back. Worse, if you knowingly take part in a scam, you could face hefty fines and criminal charges.

Spot warning signs of a scam by being wary of:

• Get-rich-quick schemes. If an offer seems too good to be true, it probably is.
• Unexpected calls, texts, social media posts, or emails where someone asks you to send money, provide your account information, or give them access to your device.
• Scammers impersonating tech support companies, government agencies, and even Wells Fargo to pressure you to act right away. Don’t be afraid to end communication with the person who contacted you so you can have time to do more research.

Follow these tips to help avoid a payment scam:

• When using digital payments or a wire transfer to pay someone, double check your payment details to make sure that you're sending money to the right person. If you send money as part of a scam, you may not be able to get it back.
• Don't send money or give your account information to anyone you don’t know or a company you can’t verify as legitimate.
• Don’t send money back to someone who has provided a check or overpayment for goods or services. These are almost always scams.
• Don't cash checks for others or provide your account or sign-on information. If the check is bad, you are liable.
• Don't allow anyone else to use your desktop or mobile device and make sure you have extra layers of security added to your banking and payment apps.