Before this course: Spotting Money Scams: Crypto, Loans and "Get Rich" Offers (course 5.7). This course assumes you know the big warning signs and the fraud reporting number from that course (in Canada, the CAFC; see Lesson 7 for other countries). Here we go deeper into how scams are built and how to respond.
How fraudsters work
A scammer is like a magician who wants you to look at one hand while the other hand takes your wallet. The "look here now!" feeling is the trick. If you slow down and check, the trick stops working.
- Caller ID can be spoofed. The Canadian Anti-Fraud Centre (CAFC) warns that a name or number that looks trusted on your screen may not be real.
- Common pressure patterns the CAFC lists across scams: pressure to act immediately, requests for secrecy, and demands for payment by cash, cryptocurrency or gift cards.
- Fraudsters often pretend to be someone you trust: a bank, the police, a family member, a lawyer, a government agency or a company like Amazon.
- Legitimate institutions and police never threaten you over the phone.
- The Competition Bureau lists the kinds of information thieves look for, including card numbers, bank account details, date of birth, social insurance number, full address, usernames and passwords, driver's licence number and passport number.
- The safe reset: stop, hang up, and contact the person or organisation using contact details you find yourself.
- Write the three pressure patterns on a card: rush, secrecy, unusual payment (cash, crypto, gift cards).
- Write the safe reset: stop, hang up, look up the real number yourself.
- Think of a call, text or email you or someone you know received. Which pattern was in it?
- Write what the safe reset would have been in that case.
- Check: you can name the three patterns and the safe reset without looking.
Videos by other creators on YouTube, for reference. They are not made by or affiliated with The Future Market.
Read the video script
[Host] "Scams are built to make you rush."
[Text on screen: rush + secrecy + odd payment] "Three signs: a rush, secrecy, and an unusual way to pay."
[Text on screen: caller ID can be spoofed] "And caller ID can be faked."
[Screen: hang up, look up the number yourself] "So hang up and look up the number yourself."
[Host] "Slow is safe."
Write down one real or imagined scam message. Circle the pressure patterns in it and write your safe reset.
ClaudeStuck? Copy a ready-made prompt for Claude
Copy this, open Claude, paste it, and Claude will walk you through the lesson step by step.
For a grown-up: Claude is for adults (18+). Copy this, paste it into Claude, and use the answer to explain the lesson to your child.
I'm learning "Fraud Prevention: recognise and respond" on The Future Market. Lesson 1: "How fraudsters work". What the lesson teaches: - Caller ID can be spoofed. The Canadian Anti-Fraud Centre (CAFC) warns that a name or number that looks trusted on your screen may not be real. - Common pressure patterns the CAFC lists across scams: pressure to act immediately, requests for secrecy, and demands for payment by cash, cryptocurrency or gift cards. - Fraudsters often pretend to be someone you trust: a bank, the police, a family member, a lawyer, a government agency or a company like Amazon. - Legitimate institutions and police never threaten you over the phone. - The Competition Bureau lists the kinds of information thieves look for, including card numbers, bank account details, date of birth, social insurance number, full address, usernames and passwords, driver's licence number and passport number. - The safe reset: stop, hang up, and contact the person or organisation using contact details you find yourself. The exercise I'm working on: Write down one real or imagined scam message. Circle the pressure patterns in it and write your safe reset. I'm stuck. Please: 1. Explain the main idea in plain, simple words with one everyday example. 2. Walk me through the exercise one small step at a time. Ask me what I've done so far before giving the next step. 3. Don't just give me the final answer. Help me do it myself, and check my work when I share it. 4. This is for learning only. Remind me to check with a licensed professional before I make a real decision about my own money, health or legal situation.
I'm a parent helping my child (about 8 years old) with a lesson called "How fraudsters work" from the course "Fraud Prevention: recognise and respond". Here's what the lesson says: A scammer is like a magician who wants you to look at one hand while the other hand takes your wallet. The "look here now!" feeling is the trick. If you slow down and check, the trick stops working. The activity: Write down one real or imagined scam message. Circle the pressure patterns in it and write your safe reset. Please explain this so an 8-year-old understands: short sentences, a fun everyday example, and no hard words. Then give me 3 simple questions I can ask my child to check they understood, and a way to do the activity together, one tiny step at a time. Keep it general and educational. This is not advice for a real situation.
Sources
- Canadian Anti-Fraud Centre, Emergency scam: antifraudcentre-centreantifraude.ca/scams-fraudes/emergency-urgence-en
- Canadian Anti-Fraud Centre, Bank investigator: antifraudcentre-centreantifraude.ca/scams-fraudes/b-investigator-enque
- Competition Bureau, Identity theft: www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/04346.html
Bank investigator and impersonation scams
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Emergency (grandparent) scams and family call-backs
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Phishing, smishing and spear phishing
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Securing your accounts
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Checking investment offers (with Canadian and Philippine examples)
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Respond and report
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Final project
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Quiz
Can caller ID be trusted?
No. It can be spoofed.
Name the three pressure patterns in many scams.
Rushing, secrecy, and unusual payment (cash, crypto, gift cards).
What should you do if someone calls claiming to be your bank?
Hang up and call the number on the back of your card.
Will a bank or the police ever ask you to hand over your card?
No.
Why is the MFA code private?
Scammers who have it can get full access to your account.
Can bail or a fine be paid with cash, cryptocurrency or gift cards?
No; police and courts do not ask for that (CAFC in Canada says so).
What is smishing?
Phishing by text message (SMS).
What does Get Cyber Safe recommend for passphrases?
Four or more random words, at least 15 characters, unique for each account.
Where do you check whether a person or firm selling investments is registered?
Your country's securities regulator registry (in Canada, CheckBeforeYouInvest.ca).
Is an ordinary company registration a licence to solicit investments?
No. It only gives the company legal personality (explained by the SEC in the Philippines).
Where should you report fraud?
Your country's fraud-reporting agency and the police (in Canada, the CAFC at 1-888-495-8501).
What should you do if someone offers to recover your lost money for a fee?
Never send recovery money. It is often a second scam.
Final exam
This lesson is part of full access: every course and every level for one payment.
Certificate
This lesson is part of full access: every course and every level for one payment.