Scams and Fraud — Practice Questions

Scams and FraudMoney Psychology and Fraud — How to spot and avoid the schemes designed to take your money.Scammers do not break in, they trick you into opening the door. Learning the patterns is the best protection there is.Phishing: Fake messages pretending to be a trusted organization, designed to trick you into giving up passwords or card numbers.Ponzi scheme: A fraud that pays earlier investors with money from new ones, not real profits. It collapses when new money stops.Red flags to watch for

Guaranteed high returns with little or no risk.

Pressure and urgency: act now, account suspended.

Requests for upfront fees to claim a prize or loan.

Anyone asking for your password or full card number.

If a bank or service contacts you unexpectedly, hang up and call back using the official number on your card. Never trust the caller's claimed identity.Protect your accounts with strong, unique passwords and two factor authentication, so one leaked password does not unlock everything.12 practice questions with explanations. Free, and no account is needed to start.