A scam is a term used to describe any fraudulent business or scheme attempting to take money or other goods from an unsuspecting individual. With the world becoming more connected thanks to the internet, online scams have increased. It's often up to you to stay informed and cautious when dealing with other individuals on the internet.
Emails/SMS's/Letters or faxes sent to you requesting you to reply by submitting your personal information/banking details, or by selecting a link in the email. These emails include deposit scams, e.g. claims that you have won a lottery, or payment.
It could be a scam if...
The communication sounds too good to be true usually sent via email, SMS, letter or fax.
The communication is threatening i.e "if you do not act now your account will be frozen, closed or you will be liable for a fine"
You are promised large sums of money for little or no effort on your part.
You are requested to provide money upfront as a processing/administration fee.
You are requested to confirm personal information, account numbers, passwords etc. via a link in an email.
The request usually contains a very quick deadline.
You don't know the person who has sent the communication.
The sender at times requests confidentiality.
Payments are often requested to be made by moneygram.
Email addresses of valid companies are slightly modified e.g. missing a letter or domains are different e.g. .co.za vs .com