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Top 5 Money Scams that Work | Fast Money | Top 5 Money Scams that Work | Fast Money – What are 5 ways that you can possibly get scammed and probably have gotten scammed, but haven’t even noticed?

So in this video, im going to break down 5 different ways the average scammed get scammed,

Ps. When I say average I mean people like me that might know about scams but these scams are so simple that you actually get scammed and end up with a negative balance in less than 5m.

Top 5 Money Scams that work | Fast Money

1. Atm: Skimmers, Camera, Keypad: Ps: the Skimmer transmit the data to the scammer through text :
Story: I use an atm every single week, so I might use a public atm because I have sofi and sofi gives your atm fees back so, you never pay.
– Some of them trap your card inside and then take money out since they already know your code
– And some people make their own credit cards and debit cards with your information.
How it works: Skimmer: scan your debit card
The camera: look at you put in your pin
The keypad: also to make sure they can see the pin

Prevent: Just use ATM at the Bank, and when using an ATM check for Cameras
– Pull the skimmer hard to see if it the real one
– Even try to lift the keypad a little

2. Double swiping: this gave me goosebumps several ties
Questions: Have you guys ever tried to pay for something with your debit card or credit card and then the guy says, hey it didn’t swipe let me try again and then boom it goes through

Sounds pretty Normal: Except,

How it works: They Scan the card once for payment and say it didn’t go through, and then scan it again in another pc usually by their keyboard and boom now they have your info.

Prevent: use apple pay, or Samsung pay, once you insert ship, do not give them the card to also swipe.

Ps. Sometimes it’s the business inserting the information into their system but even then you want to avoid it, because if they get hacked then your info could be put at risk. ( If they try to double swipe just say can I speak to your manager or just call visa and report the issue)

3. Fake Checks and money orders
– This happened to me before but I didn’t fall for it, however, my cousin did and my girlfriend’s brother did also
– This happened to one of you my subscriber: they guy got a job and got paid online with a check, then they asked him to send the money back, turns out the check was fake and had no funds. ( so he had to cover everything)
How it Works: You have a guy saving can you deposit this check for me, and I’ll give you 30$ I need the cash quick
Or: they text on Instagram and say give your account number, routing number, and then we can deposit some cash into your account.

Results: The money deposits and then you take it out, but… when the bank finds out about the error, they debit it and now your account is negative.
– Two options you pay it
– You leave it: the bank will blacklist you forever.

How to prevent it: Don’t ever deposit someone checks into your account and don’t ever give someone your account and routing number.

4. Fake eBay or online purchases in general
Story: I remember I was 14 or 16 and my friend told me he bought a camera on eBay, this was before eBay was trusted with their 30 months back guarantee

How it works: You see something for sale eBay, and it looks too good to be true, example a PlayStation for only 150 and its brand, so you order it and all that comes in the box is nothing, or you get one controller.

How to prevent it: Only buy from credible sellers
Read the description
And then order with a PayPal. ( to protect yourself)

Story: When I was switching over my internet provider, I went to Starbucks to get internet, and sat there for 4 hours using that network, and who knows if it was really Starbucks or not

How it Works: You to this Café or a store for example, and you start using the wifi, like any normal person in 2019 or 2020 when you’re watching this.
– You connect to an open hot spot that turns out to be a hacker, and now you’re connected to this hotspot and he can start to mind your data, including your financial data.

How to Avoid It:
Best way to avoid it is by using a VPN, and





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