Crooks Use Fear of Missing Out to Scam Consumers

When an old high school friend popped up on Facebook Messenger recently, Sue was delighted. When the friend mentioned a $50,000 government grant she’d just received, Sue wanted in. With $18,000 in home repairs looming, why miss out when others were getting help? “The government seemed to be throwing out all sorts of stimulus funds,” she says. “And now, a friend got money.”

Sue clicked on a link, typed in her Social Security number and date of birth, and then saw the scam. “They wanted $500,” she says. “You shouldn’t have to give money to get money.” Fraudsters had impersonated her friend and almost scammed her out of her money by eliciting a powerful emotional state called FOMO — fear of missing out. (Read More)

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