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Fake Job Scams: Are On The Rise—Here’s How To Protect Yourself

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Fake Job Scams: Are On The Rise—Here’s How To Protect Yourself: Fake Job Scams
According to the Better Business Bureau, employment scams cause workers approximately $2 billion in direct losses every year. In the first quarter of 2022, around 14 million people encountered job-related scams. According to the Federal Trade Commission (FTC), unwary job seekers lost $68 million as a result of false opportunities for business and employment.(1)
In a tough economic climate, these scammers take advantage of vulnerable workers. With financial constraints resulting from high inflation and rising costs, many individuals become susceptible to falling into deceitful operations. The scammers possess the ability to appear genuine and offer quick money, pretending to represent reputable companies. Those who have been unsuccessful in finding jobs and have responded to numerous ads become vulnerable to falling for get-rich-quick schemes.
There are various types of job scams that often ensnare unsuspecting job seekers. These fake job scams include fraudulent job postings, work-from-home schemes, and deceptive interviews or government-related fraud.
It’s important to be cautious of job listings that seem too good to be true. Beware of job postings that promise high-paying opportunities without requiring much, if any, skills or experience. Scammers may request personal information such as your Social Security and bank account numbers. In the end, the promised job will never materialize, and both your identity and money will be stolen. Mark Anthony Dyson, host of the Voice of Job Seekers podcast, advises, “You must be vigilant when it comes to any invasion of your privacy that could impact your financial and employment decisions.

Warning Signs to Watch Out For:

If you ever find an offer that appears unbelievably great, it’s wise to avoid it. No one will simply hand you free money without any conditions or hidden agendas. Here are some things you should be cautious of:
01. The interview request may appear to be from a reputable company, but the email address provided is very basic.
02. During the hiring procedure, it is common to be asked for sensitive personal information. This might contain crucial information like your Social Security number, date of birth, and even information about your bank account. These details are essential for the necessary procedures involved in the hiring process.
These pieces of personal information are specifically requested to verify your identity and facilitate financial transactions.  However, it’s necessary to take alertness and make sure the data you provide is handled securely.
01. The recruiter may try to persuade you to pay an application or job training fee.
02. They withhold the company’s name and compensation details until you share your personal information with them.
03. The job is offered hastily, without any in-person meetings, interviews, or visits to an office.
04. All communication is done solely through social media platforms.
05. The company’s website appears hastily put together, with grammatical errors, a vague job description, and no clear contact information for the organization.
It’s important to be vigilant and exercise caution when encountering these warning signs. Remember, if something feels off or too good to be true, it’s better to err on the side of caution.

Taking Advantage of the Work-From-Home Trend:

Scammers are exploiting the rise in remote work opportunities through fake job scams. They promise lucrative earnings through work-from-home schemes, requiring only a one-time upfront fee to get started. But as soon as you pay, they vanish without trace
Beware of these deceptive job offers that involve reshipping products or selling items to people you know. Another red flag is when fast-talking salespeople claim that for a small investment, you can become your own boss. Additionally, fraudsters may try to entice you with promises of a secure government job, complete with a pension and benefits, but they’ll ask for a small fee upfront.
The catch with these offers is that you’ll be asked to pay for training or certifications in advance. Your debit or credit card will start to be charged without your knowledge immediately after. Another scam to watch out for is the fake-check scheme. You deposit a check from your supposed “new employer,” who then requests that you send back some money due to “overpayment.” The check bounces, leaving you responsible for repaying the full amount, while the scammers disappear with your money.
Interview scams, including fake job scams, involve receiving a job offer via email, allegedly from an employer, recruiter, or job board. Scammers pose as job placement services like staffing agencies, headhunters, or other placement firms. These fraudulent activities can be found on popular social media platforms such as Facebook, Twitter, and LinkedIn.

How to Avoid Falling for Scams:

Only apply for jobs advertised on reputable websites. Be cautious of positions promising high pay without requiring relevant experience. Legitimate recruiters never ask job seekers for money. Companies hire headhunters and compensate them through placement agreements, typically a percentage of the job seeker’s annual salary. Job listings are widely available on numerous job aggregation sites and corporate career portals, so there’s no need to pay a substantial fee for access.
It is safe to disclose private information like your Social Security number once you receive a written job offer from a reputable company, after speaking with company representatives, doing extensive research, and completing a background check by the HR department.
If you’re unsure about an opportunity, it’s best to be cautious. Contact the Better Business Bureau or the Federal Trade Commission to gather more information about the organization offering you the seemingly unbeatable job offer.

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