- 1 The rise of digital currencies and work-from-home job opportunities has developed another scam opportunity utilizing cryptocurrencies.
- 2 The FBI has shared an alert with protective measures to safeguard job seekers from such scams.
- 3 Users are required to look for warning signs and implement preventive measures.
Amid the rise of digital currencies and work-from-home job opportunities, crypto scammers have developed a new way to loot genuine job seekers.
The Federal Bureau of Investigation (FBI) shared an alert “Alert number: I-060424-PSA” through its public service announcements on June 4. The alert highlights how scammers defraud individuals via work-from-home scams.
Work-from-home job opportunities have increased substantially since the COVID-19 pandemic. It was initially believed that once the pandemic situation improved, the opportunities for work-from-home jobs would fall drastically, but that isn’t the case.
It has also led to a substantial increase in the workforce and improved work-life balance. Despite all the positive sides, it also allowed scammers to loot people by posting fake work-from-home job opportunities.
The FBI also warned victims to be safe from such fake work-from-home jobs. The scammers portray themselves as legitimate business houses, including recruiting agencies or creating counterfeit businesses. These scammers usually connect victims through calls, messages or emails.
They also post fake job openings on popular recruitment channels like LinkedIn. However, social media channels do keep an eye on such disguised employers. Still, they smartly deceive them, and the channels only get to know about this when a victim complains about the executed scams.
How do Scammers Create a Trap?
Scammers offer jobs that generally include simple tasks such as rating restaurants or optimizing a service platform by clicking a menu. They typically offer work time flexibility to lure victims and keep the registration process simple.
However, they increase the complexity of the payment system and generally create a confusing compensation structure that requires victims to make initial payments in cryptocurrencies to unlock more work or earn more money. The paid money goes directly into scammers’ bank accounts.
Users are then navigated to a fake interface, which portrays that victims are earning money and shows fake income, which they cannot cash out even after trying.
Listed Warning Signs
– Cryptocurrency Payment: The case where a user is directed to a payment page or is asked to make payment in cryptocurrencies to their employer as part of a job. Users are advised not to make any such payments and to avoid sharing any details on any such job portals. Recruiters who ask for payment from potential employees even before they join are always a red flag.
– Alarming Job description: Job seekers are advised to go through the job description properly and if it requires them to do simple jobs or uses the term “optimization.” Then, take a pause and check the job background thoroughly and then only process.
– References in the hiring process: If the hiring process does not require any references, the hiring team acts too good to be true, and processes appear to be very simple, then it is suggested to do a proper background check about the actual work and existence of the company.
Prevention Measures
– Cautious about the job offer: Users are advised to be cautious of unapplied job offers and messages; avoid clicking on any unknown links, downloading files from unknown sources, or opening attachments in such messages.
– Refrain from making payments: Users are recommended to make any payment or send money to an employer even if they commit that the employees will get it back afterwards.
– Recovery payments: If the platform asks to pay for services that claim the recovery of any lost cryptocurrency funds.
– Do not share personal information: Users are advised not to send or share any financial or personal information who are providing unsolicited job offers.
The FBI has requested victims to report to FBI IC3 if they ever come across any such activities or types of fraudulent or suspicious activities. In addition, the FBI requires them to provide all the details of the financial information associated with the scam.
Disclaimer
The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.
