Surprise Windfall Scams

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Common Scam: Surprise Windfall

We all love getting unexpected gifts. Who wouldn’t want to have a big pile of money dropped on them? And when we do, we usually don’t ask too many questions. This is exactly what scammers are counting on. 

Below is a real scam email, which is similar to hundreds of other variations out there:

It has all the characteristics of a windfall scam:

• Promise of a large amount of unexpected money

• Lots of false detail to make it look official

• Urgency to act quickly or lose the money (FINAL MESSAGE)

There are some obvious signs this is a scam, including the email address that sent it. However, in our excitement to get an unexpected $3,000 we might miss those small details and eagerly click through. The goal of the scam is to steal our personal information, our money, or both, by convincing us that we need to take some steps to unlock the funds. 

The people most likely to fall for these scams are the most vulnerable, people who have financial problems and desperately need a windfall. They will get even more excited that there might be an easy solution to their problems and miss even more of the signs that this is a scam. 

So, how can you and your family protect yourselves?

• Be Skeptical. Unexpected windfalls can happen, but it’s extremely unusual. You should assume any unexpected windfall is a scam until you have a lot of evidence to the contrary. Don’t share any personal or financial information without proof that the person & company asking for it are who they say. 

• Never pay for money. Anytime someone wants you to pay them to unlock funds, it’s most likely a scam. If you really are owed money, the company who owes you is usually required by law to provide it without requiring you to pay a fee. 

• Use spam filters. Most of these scams happen over email and text messages, and most spam filters will catch them for you. Make sure your email and mobile providers have spam filtering services and if necessary, activate them. 

All of us are vulnerable to these kinds of scams, because it’s human nature to let excitement override our critical thinking skills. The best protection is to prepare for these scams so you never make a decision in the moment. Spend the time now so that your future self is never in a situation to fall victim to these scams. 

Join the Sanctum Waiting List! 

We’re in the process of building a suite of tools that will keep you safer online, including protecting you from scams. You can see a quick video about what we’re building, and we’d love for you to join our waitlist for early access if you’re interested.

Quick Tip of the Week: Talking About Money. 

It’s often easy to identify a scam happening to someone else, but it can be really hard to identify when it’s happening to you! One of the best protections for your family is to make it normal to talk about money, and specifically anything odd or new happening with your finances. If you talk about money on a regular basis, you can help your family realize they are targets of a scam and they can do the same for you. Most families don’t talk about money, so make it a regular habit so it’s a common part of your lives. 

Have you come across a scam recently? Received some weird messages that you think might be a scam? Forward them to [email protected] and we’re happy to help! We’ll take a look and let you know what we think, and if it is a scam we’ll profile it in future issues of The Safety Net to protect others.