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Job hunting? Beware as scams are on the rise in job ads

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Anyone with access to the internet knows that scams are on the rise. From text messages that purport to be from your utility company or tax department, to ones that tug on the heartstrings of parents, the Better Business Bureau (BBB) has found that the average amount lost by victims of investment scams rose from $1,000 in 2021 to almost $6,000 this year.

A new Consumer Security and Financial Crime Report from Revolut points to Meta platforms as the biggest source of all scams (62%) in the first half of 2024. Revolut identified that Facebook had fraud volumes (39%) which were more than double that of WhatsApp (18%)

The BBB report concurred, finding that 60% of scam cases involve social media platforms. 

While many people are now naturally wary of unsolicited text messages and emails they may receive and know not to click on links, it turns out this may be dependent on age and experience. 

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A Deloitte survey found that Gen Z-age Americans were three times more likely to get caught up in an online scam than Boomers were, and Gen Z was also twice as likely to have a social media account hacked.

It can feel hard to keep up as scams proliferate. Barely a week goes by without most people receiving an increasingly convincing-looking text message or email trying to coax us into clicking on a link or perform some sort of action that will ultimately leave us vulnerable

A new scam is emerging and is one to keep a close watch on, especially if you’re looking for a new role. That is the rise of scam job ads, and anyone can fall victim, regardless of position or experience.

According to Korn Ferry, “Faux job ads are spreading at an alarming rate, fueled by AI that allows criminals to easily whip up believable job descriptions and accompanying disinformation, such as fake recruiter profiles on social media. Candidates are tricked into supplying key personal information that enables scammers to commit identity theft.”

Virus protection company McAfee says that, “the people behind job scams want the same old things. They want your money, and they want your personal info for identity theft. In some cases, they want you to launder money or pass along bad checks, all under the guise of signing up for onboard training and materials”.

It is becoming such an issue that LinkedIn shut down over 86 million fake accounts in 2023, with more than 90% identified at registration, and the rest caught through manual investigations.

Some get through regardless, and the FTC says losses from fraudulent ads still rose by a quarter in 2023, up to $491 million, and data from the Identity Theft Resource Center (ITRC) identified a 118% jump in reported scams in 2023 over 2022.

How to spot a job scam

It is clear that scams are getting worse and platforms are constantly playing catch-up with fraudsters who are becoming increasingly sophisticated. 

So to avoid falling victim to an employment scam, firstly, make sure that you read all job ads carefully. If they seem to be missing relevant information such as company details, location or contact information, this can be a red flag you shouldn’t ignore. 

Or, if you appear to have gotten a response from a recruiter, is the process moving unusually fast? If the only contact you have with the recruiter is via text or online chat, then you should consider both of these factors. This can mean the job isn’t real, and the goal is to get your personal information.

If you’re asked to provide your Social Security or tax ID number before you’ve been made an official offer and have signed a contract, avoid and shut down any communication. Take the same tactic if you’re asked for your banking details at any point before an official offer of employment is made.

And of course, if you’re ever asked to pay a fee or transfer money, this is a clear indication that the job ad is a scam and should be avoided at all costs.

Ready to find your next software role? Check out The Next Web Job Board

By Kirstie McDermott

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