Increasing scam starting from Job offers to Crypto

Scammers are known to adapt and evolve their tactics over time to exploit emerging trends, and the growing popularity of cryptocurrencies has provided them with new opportunities. It is gradually increasing every hour with each passing day. It is quiet difficult to understand and identify to avoid unharmed.

Many people disregard the messages that scammers send. But if they respond, the scammers move quickly to establish a rapport. The mystery texter might say they’re a wealthy executive. They’ll share images of their lavish lifestyle. Eventually, they’ll try to make a meaningful romantic bond with the victim. It can take anywhere from a few weeks to a few months.

At the third stage, the scammers offer to “teach” the victim how to trade cryptocurrencies or foreign currencies. The scammer networks operate fake trading platforms that look “exactly the way they should look”. Victims are “taught” how to trade by their scammer, and the fake exchanges are engineered to show nonexistent profits of 15% to 20%.

Since, there are mass layoffs due to economic slowdown, several lakh people have already lost their jobs, scammers and frauds are taking advantage of the situation with their new plan to empty job bank accounts, by obtaining sensitive information, such as personal details and financial data. Scammers can create fake company websites and employment paperwork, as well as fabricate bank account information and employment forms, to obtain sensitive information. They often post their fake job openings on multiple legitimate job-seeking websites to increase their reach.

These scams can be carried out through emails, social media, fake websites, or phone calls or even an SMS, making it difficult for individuals to protect their sensitive information.

Scammers are increasingly attracted to cryptocurrency trading because it is anonymous and irreversible, meaning that once a transaction is made, it cannot be reversed. They use various tactics to convince people to invest their money in fake cryptocurrency platforms, such as charging an upfront fee or creating false endorsements from celebrities.

A recent report by ZeroFox Intelligence revealed that job scams increased by 30 per cent during the last two quarters of 2022. With the help of AI tools like Chat GPT and Jasper, it has become easier for scammers to create realistic job postings that appear genuine. As a result, experts predict that employment scams will continue to rise in 2023.

Email job offers and postings on reputable job sites like LinkedIn can be used to perpetrate scams. In these instances, unsuspecting job seekers may receive offers from eager employers for a position they never applied for. The job may appear to be well-paying.

It's important to stay vigilant and educate yourself about common scams to protect yourself and your assets. Remember, staying informed, being cautious, and using common sense are essential in protecting yourself from scams.