She Thinks Her Husband Is Being Scammed
The warning signs are there, but her husband is convinced a “too good to be true” investment opportunity is legitimate.
“My husband is at it again,” Wendy whispered to me during our group fitness class last week. “Are you OK?” I asked.
“Well, no, not at all. And neither is he,” she said. “I feel like I can’t stop him, and he doesn’t believe me when I tell him it’s a scam and he’s going to lose our money!”
Despite all the warning signs, Wendy’s husband is absolutely convinced that the only thing standing in the way of his making money in cryptocurrency is his wife’s outraged objections. He says he trusts the man offering the opportunity, even though they have never spoken on the phone or met in person. He says if Wendy hadn’t found out about it, they’d be building their wealth this way. He says the man’s requests for a “transfer deposit” and that using a gift card in lieu of a check is just how this modern form of investment works today.
And he says he needs to get back to the man, fast, because the chance to make real money won’t be there forever.
“Sadly, his wife is probably right. This could be a scam to steal their money and gain access to their accounts,” says Erin West, founder and president of Operation Shamrock. “All the red flags of an online — or cyber — scam are there.”
Five Red Flags of Cyber Scams
With so many resources against us, how do we stay out of harm’s way and prevent ourselves and our loved ones from getting hurt by these scammers? Wendy’s husband has encountered some of the major red flags of cyber scams.
There’s a mismatch.
Does the name on the account match the sender?
Before making a transfer or payment, even to a vendor you know, be sure to contact the receiving bank and make sure the name on the account matches that of your vendor. Scammers can make emails look like they’re coming from your bank — logos, similar web addresses, even pictures of executives — so it’s essential to check and double-check that the account information is a match with the intended recipient. Bank employees don’t use Gmail addresses to let you know of an account breach.
The communication was unexpected.
Did the request or opportunity start with an unsolicited text or email?
Scammers can find their way into your life — and your bank account — by sending simple messages like “Hi. Are we still meeting for breakfast on Tuesday?” They’re looking for people who want to chat so they can steer the conversation to other topics and messaging platforms.
The outreach might also be more complex, such as “Your background suggests you’d be a great fit for this job. We’re offering remote work at an annual salary of $150K plus benefits. Let’s talk soon!”
In either case, the intent is to engage you in conversation, build a relationship, and eventually get you to send money or provide personal information.
It’s very secretive.
Are you being told you can’t share information with anyone?
Something is off if you’re told you can’t tell anyone about the conversation — your loved ones, your bank, your boss, law enforcement, or anyone else. Legitimate transactions should be transparent and allow time for you to get thoughtful consideration and input from people you know and trust.
Everything is a rush.
Has the person asking for money created an urgent situation that requires immediate action?
Scammers might tell you that you have to act right away to take advantage of a special investment opportunity. Or, they’ll play on your emotions, asking you to support their medical care or to get them out of some kind of trouble. A common trick is to imitate loved ones calling from jail or a hospital, or claim a loved one has been kidnapped, and they need thousands of dollars to be saved. In both cases, scammers are using fear to get you to act quickly.
They want to give you money for safekeeping.
Is someone asking you to hold or move money for them?
If you are asked to hold onto a sum of money, especially from someone you don’t know in person, it could be that you are moving money for a scam operation. One way ill-gotten funds are moved without drawing attention directly to the scam operators is through a third party or “money mule” who receives the stolen money into their own accounts.
Welcome to the Scamdemic
According to an April 2025 study by the Pew Research Center, roughly three-quarters of Americans have experienced some sort of cyber scam, such as:
Stolen credit card numbers and fraudulent charges
Scam emails, texts, or calls
Fake online investment opportunities
Online accounts being taken over
Americans reported $16.5 billion in losses to the FBI in 2024 alone. According to its annual Internet Crime Report, that dollar amount represents a 33% increase over losses reported to the agency in 2023, higher than any previous year.
“It’s a pretty safe bet that most people who have been scammed were generally aware of cyber scams but didn’t know what to watch out for to protect themselves,” West notes. “Operation Shamrock wants to change that by educating people and exposing how scammers find their victims.”
Scammers Play the Odds
A key element of the success of cyber scammers is that they are playing the odds: They put out a relentless barrage of attempts to ensnare people in their schemes. They target everyone from Baby Boomers to Gen Z with text messages, phone calls, emails, or seemingly legitimate websites offering love, friendship, wealth, job opportunities, and more.
In some cases, there is no direct contact with the victim, and they take over a bank account, credit card, or entire identities to steal money. Even as we report junk mail, block numbers, and carefully weed out obvious phishing attempts, the scammers are using a wealth of resources to find new ways to steal from us.
Another key to their success is a workforce of human trafficking and forced labor. In Cambodia and other southeast Asian nations, office compounds are filled with thousands of people who are trying to earn sleep, food — and freedom — by fulfilling a mountainous quota of scams. Failure to perform prompts physical punishment or transfer to worse “jobs,” such as sex work.
“These fraud operations are expanding in Southeast Asia and are also emerging in parts of Africa and the Philippines. Unfortunately, this illicit industry tends to take root in regions where systemic corruption and economic hardship intersect,” says West.
If You Think You’ve Encountered a Scam
What do you do if you’re not sure something is legitimate or a scam. Stop. Step away. And contact someone for input or advice. That person could be a family member, bank employee, or law enforcement. Whether it’s $1,000 or $10,000, there’s no reason you have to make a decision without support.