FRAUDCAREER

Business and Job Opportunity Scams

Scams related to business and job opportunities are more common than you might think. This article covers how fraudulent companies take advantage of those seeking new employment and ways you can protect yourself.

A common method used to trick unsuspecting victims into handing over their information is business and job opportunity scams. This particular method of fraud allows the scammer to portray themselves as a legitimate business looking to hire employees. During this process, the applying individual is offered a non-existent position which often leads them to providing the fake employer with their personal identifying information. This includes their full name, date of birth, Social Security number, and unfortunately their bank account information. Once the information has been obtained by the fraudster, the applicant will likely no longer be able to reach this “business”.

Due to times of need and uncertainty, there has been an increase to scammers that prey on vulnerable job seekers. They take advantage of those potentially looking for an opportunity to secure a place of employment. For example, many individuals are looking for positions that allow them to remain home in the form as a work from home position. The job postings directed towards these potential victims may be displayed as such along with income that may be more than a legitimate company would pay. This should be a red flag because it sounds too good to be true. For the average person, they may not notice this inconsistency because of the excitement of discovering the posting. Scammers may also use legitimate job searching websites to lure in victims. This is why it’s extremely important to limit the amount of personal information you provide on these websites along with not responding to every random job offer you receive, especially if you have not initiated completing a job application.

In 2024, business and job opportunity scams were ranked third in the top ten fraud categories reported. Furthermore, with a total of 126,217 reports, 36% of those reported a loss of money totaling over $751 million. You may not believe you could ever fall victim to this type of scam, but they are consistently enhancing their approaches and techniques. You may be on the hunt for an employer and somehow fall into the hands of a swindle artist. Be sure to pay attention to all forms of communication, do your research on the companies you have contact with, and be wary of providing your information prematurely.

Lasting Tips to Protect Yourself

• Be skeptical of job postings on third-party websites.
• Scan job postings carefully to make sure they’re credible.
• Visit the official company website to verify portrayed representatives are from legitimate businesses.
• Never provide your bank account information before verifying company legitimacy.
• Look for complaints of fraud utilizing the Better Business Bureau website.
• Trust your instincts.

Sources:

https://cybernews.com/news/ftc-top-scams-2024-consumer-losses-12-billion/

https://www.indeed.com/career-advice/finding-a-job/job-scams

https://msufcufin40.evergreen3c.com/blogs/remote-employment-scams