Among all the social media platforms, WhatsApp is one of the most popular messaging platforms in the world. It has roughly 2.24 billion global users and is ranked as the 8th most popular download application. 

It is not surprising that scammers also use this app to track and rip off their victims using this app. Although several of the scams pulled off are not old, scammers have adapted the execution of their scams using WhatsApp.

Several scams can be found on the internet, and there is no shortage of information regarding these scams. We have compiled one of the most commonly used tactics that these scammers use to lure in their victims and fleece them financially.

Investment scams

Whatsapp scammers lure victims in on the pretext of a good investment scheme that will ensure that the victims are getting a good deal. The scammers promote fake investment opportunities through WhatsApp messages or groups, targeting the unsuspecting. Scammers understand that most victims do not know how to handle their financial assets and are ready to invest if someone would help them grow their financial holdings. 

Scammers will try to lure in their victims with fancy financial terms to sound professional and impersonate a successful investor or broker who can guide their victims to multiply their wealth by offering fake services related to stock, commodities, forex, and cryptocurrency trading. Scammers will entice their victims by claiming to have insider information or special trading strategies.

Impressed by scammers, these victims are encouraged to download a bogus broking platform and ask them to invest a bit. Initially, these victims will see their wealth increase and will be requested to invest more if they wish to make a huge profit. Convinced by the results shown, the investors will pour in more money. The only time these victims learn about the scam is when they try to withdraw their profits from the trading platform and the scammers block their access.

You need to be careful of unsolicited investment offerings and do your homework before investing to avoid falling for a WhatsApp investment scam. Such claims of substantial profits with little to no risk should also be avoided. You should only make investments in reputable, well-regulated, and profitable business possibilities. Before sending any money, it’s crucial to confirm the legitimacy of any broker or trader handling investments.

Fake job offers

Fake job offers have always been around the corner, but they have become more apparent in recent years. With many getting laid off in recent years, the prospect of someone offering a job is quite appealing.

Scammers will contact their victims by sending WhatsApp messages, promising them a 100% job guarantee. However, there is a catch: the intended victim needs to provide some information or needs to make a payment, which will be subsequently reimbursed when they receive their first paycheck.

The jobs offered have quite attractive paychecks and require minimum qualifications and, in some cases, lesser working hours.

Scammers provide a link that leads to a website where the victims are prompted to fill in their sensitive information like bank account information, social security numbers, email addresses, and so forth. Once the details are collected, scammers clean off the accounts of their victims through identity theft.

To avoid falling for a WhatsApp Fake Job Offer scam, you should be wary of unsolicited job offers you receive via messaging apps such as WhatsApp.By using official resources like the corporate website or social media sites, they should investigate the business that is providing the position and confirm its legality. Also, you must always confirm the employment opportunity before providing any personal information or making any payments. Before proposing a job, legitimate employers won’t demand money or delicate personal details.

Phishing

The scammer will send in a message that appears genuine and has a link in it. These fake messages would range from a utility company to a Netflix subscription. The message would usually state that the victim would no longer enjoy the services until they paid upfront. Scared by the threat, these victims will click on the link, which opens up a webpage that will appear authentic to the intended victim. The victim is prompted to fill in their sensitive details, like their bank account number, social security number, email address, and so forth.

The details thus collected by the scammer will be used for identity theft. There is another way that these scammers will act. 

They will prompt their victims to download ransomware or malware, which will collect all the sensitive data through these apps. Once the data has been collected, they will then ask their victims to make an upfront payment if they wish to activate their mobile or personal accounts. Since victims are locked out of their devices, they pay the ransom.

The data is still collected, and the victim would fall victim to identity theft in the future.

You need to be wary of unwanted messages you receive through WhatsApp or other messaging applications to avoid falling for a WhatsApp phishing scam. By consulting authoritative sources or getting in touch with the purported sender via a separate channel, they should confirm the veracity of any message or link. Also, you should never send links or messages containing critical information, like login passwords or financial information. To access their accounts or carry out financial activities, consumers should always utilize official websites or applications.

Impersonating someone you know

Scammers will impersonate a loved one, a family member, or even a friend of their intended victims. They will trick their victims into sharing sensitive details or outright asking for money, or even both. 

Impersonating someone the user knows or trusts, scammers frequently utilize a phony WhatsApp account or a phone number that has been faked. They can make a desperate request for money, citing, for example, the need to pay for urgent medical care or to settle a debt, or they might promote an appealing investment opportunity.

They persuade the victims to act right away; scammers frequently utilize emotional manipulation or a false sense of urgency. To strengthen their argument, they could also include private data gathered from social media or other sources. 

You must be wary of any unsolicited messages you get, even if they seem to be from someone you know, to avoid falling for a WhatsApp impersonation scam. Before responding or transferring any money or personal information, they should first confirm the sender’s identity through another channel, such as a phone call or in-person interaction. It’s crucial to remember never to transmit private information, including financial information, through WhatsApp or any other messaging service.

Lottery Scam

Scammers will send messages to their victims stating that they have won a lottery or sweepstakes prize and then ask for personal information or payment to claim the prize.

In a WhatsApp lottery scam, the scammer will frequently identify themselves as an employee of a reputable lottery or sweepstakes company and will brand their message with official-looking logos and other branding. They could require personal information from the user, such as their name, address, and birthdate, or they might demand money for extra costs like processing fees.

The scammer will either disappear once the user sends the needed data or money or will give justifications for why the award cannot be claimed. In addition to being left empty-handed, the user runs the danger of identity theft and other types of financial crime.

You should be wary of unsolicited messages stating they have won a reward if you want to avoid falling for a WhatsApp lottery scam. Never give your personal information or make a payment without first checking the authenticity of the award, and always confirm the legitimacy of the lottery or sweepstakes organization through legitimate methods. To collect a prize, legitimate lottery firms won’t demand cash or personal information.

Dating

Scammers will create fake profiles with attractive photos to entice their intended victims. Scammers are so shrewd that they will create a profile that their intended victims are bound to fall for.

Once victims fall for this ruse, scammers will then entice them into a romantic or intimate relationship to gain their trust. Scammers will prolong their romantic conversations frequently to ensure that the person they are sharing their feelings with is genuinely interested. 

A time comes when the victim wants to meet their romantic interest, but unfortunately these “romantic interests” are a flight or two away from them. 

Then, by a stroke of luck, these “romantic interests” encounter the most dangerous situation. These “romantic interests” want to avoid falling prey to such situations and need money, which they are ready to pay. The flow of money from these victims continues until they realize that they have been scammed. There are several fake reasons that these “romantic interests” entice their victims. 

To avoid falling victim to a WhatsApp romance scam, you should be cautious of unsolicited messages from strangers that are overly flattering or suggestive. They should never send money or provide personal information to someone they have not met in person, no matter how close their online relationship may seem. It’s also a good idea to verify the identity of the person through a video call or other means before becoming too invested in the relationship.

Conclusion

In this digital age, one needs to be extra cautious when it comes to receiving a message. And this is especially true when someone asks for monetary help. You must remember that scammers only adapt existing scams. You need to be cautious while dealing with them if you wish to avoid falling for such scams.