Online scams are big business. In fact, there were over one 1 billion dollars in victim losses in 2016 due to online scams. This shows that online scams are as popular today as they ever were – but the scams aren’t the same as the ones that you were told to avoid a few years ago. This is because the internet is constantly changing, from new cloud developments to the introduction of Robotic Process Automation, and this includes new and updated scams that you may never have heard of before. Here are three online scams that you can expect to hear about in 2018.

ICO Scams

There are lots of legitimate ICOs online, but there are also lots of ICO scammers.

It is very likely that you have heard about the cryptocurrency market recently – after all, it is all over the news! However, many people haven’t heard the term ICO, which stands for initial coin offering. ICO is a popular funding mechanism for projects, and many companies use ICO to sell stock. This is normally a good thing, as it can benefit businesses – but there are pros and cons to investing in cryptocurrency, and one of the main cons is the possibility of being scammed. There are lots of legitimate ICOs online, but there are also lots of ICO scammers, which is why it’s important to learn how to avoid ICO scams.

Advance Fee Scams

Advance fee scams have been around for decades, but they are still one of the most popular online scams. Advance fee scams normally start with a scammer sending “free” products, services or money to you, and then they ask for a small fee to process the order. Once you have paid the fee they will retract the free items, leaving you with nothing. This scam used to be fairly easy to avoid, but in recent years scammers have gotten smarter and now they often pose as someone you know (such as a friend or an accountant) so that you are more likely to trust them.

Social Media Scams

Social media scams are also very common. Normally a hacker will hack someone’s profile after they visit a suspicious link, and then they use the account to message other people asking for money and personal details. This one can be tough to avoid, but make sure that you always question anyone asking for your personal details, even if they seem friendly.

Make sure that you stay safe by being aware of ICO scams, advance fee scams and social media scams.Click To Tweet

Online scammers steal money from tens of thousands of people every year. Make sure that you stay safe by being aware of ICO scams, advance fee scams and social media scams.