A sense of urgency: Being prompted to act quickly can manifest in positive or negative urgency.

In positive cases, individuals are targeted with a deal or offer that is too good to be true and requires them to move fast or lose out on the one-time offer.

In negative cases, the victims are led to believe that their accounts are at risk and that they could be hacked or lose money if they do not act quickly.

A sense of alarm needing quick action: As noted above, the fraudsters might pose as a bank representative calling to inform you that your account is at risk and that you need to move your money urgently to secure the funds.

Attempt to impersonate a close friend/family member: Some of the most common cases involve fraudsters posing as a close family member who needs urgent help. They count on the sense of urgency to cause panic, making the victim feel they have to act quickly because they are in “danger” or “at risk”, and cut corners, not being as vigilant as usual.

Unusual sender: In other cases, the sender is unusual (unknown) but attempts to present a good deal or claim that you have been “selected” for a too-good-to-be-true deal.

Invitation to click hyperlinks: In the case of emails or SMS, you might be invited to click on a hyperlink to get more details or to be redirected to a page where they will try to get you to add personal information, which will then be stolen from you.

Unexpected email attachments: A common practice also involves strange attachments in your email. These attachments might contain malware that could be used to access your device and steal your information fraudulently.

Learn more:

Get more tips on how to stay safe whilst managing your money here.