How Scammers Steal Your Money

Whether you're splitting the brunch bill, buying concert tickets, or picking up a vintage find from online marketplaces—chances are, you're already relying on digital payments without even thinking about it.

But that same convenience also opens the door to scams. When sending money is so easy, it only takes a moment of distraction, misplaced trust, or a well-crafted fake to lose it.

And according to GASA’s Global State of Scams report 2024, nearly $1.026 trillion was lost to scams worldwide in 12 months, and only 4% of scam victims were able to recover their losses. Also, F-Secure's Digital Moments 2025 survey found that 83 % of people encountered online scams in 2024.

Scammers don’t need to hack into your accounts anymore. They just need to get you to click, tap, or type at the wrong time. And as the numbers show, once the money’s gone, there’s often no getting it back. That’s why it’s so important that you can spot scams before they can cause you harm.

How scammers are stealing money in 2025

Scam tactics aren’t just more common—they’re more convincing. Here are the most frequent techniques used to steal money through fake payments, banking scams, and more.

1. Banking scams: fake pages, messaging apps, and social engineering

Scammers reach people through email, direct messages, SMS, and phone calls. Some messages claim to be from your bank or payment service, warning you about “suspicious activity” or asking you to verify a transaction.

Others take a more direct approach: a caller posing as your bank, tech support, or even the police, pressuring you to move money to a “safe account” or install a remote access tool – malware that can spy on you or even steal money when you access your online bank.

The links they send may lead to fake payment or login pages that look nearly identical to the real thing—often complete with HTTPS and a padlock icon. And in some cases, you’ll be redirected to the actual site afterward, so the scam goes unnoticed until the damage is done.

How to stay safe:

• Don’t trust messages, links, or phone calls asking for sensitive info or urgent action. Real banks won’t ask you to move money or install apps.
• Always log in through your bank’s official website or app.
• Use banking protection tools that secure your session, detect fake sites, and alert you to suspicious activity.

2. Banking Trojans hiding in plain sight

A banking trojan is a type of malware designed to spy on your financial activity. It often gets installed when you download a malicious app, open a compromised attachment, or click a shady link—sometimes disguised as a delivery tracker, invoice, or a utility app.

Once installed, these trojans run silently in the background, capturing everything you type, taking screenshots, or even using a screen overlay that looks like your banking app to steal login details and one-time codes. Some advanced versions can even bypass two-factor authentication by hijacking codes in text messages.

How to stay safe:

• Never install apps or download files from unknown sources, especially if prompted by an unexpected message or pop-up.
• Keep your device and apps up to date.
• Use security tools that can detect and block hidden malware before it causes damage.

3. Fake online stores and payment traps While shopping scams are around all year, they surge threefold during the end of the year shopping season.

Let’s say you find a deal through a social media ad or a search engine result, click through, and everything looks just fine.

But when it comes to the time to check out, the scam happens. You either:

• Enter card details into a fake checkout form.
• Get asked to “verify” your payment via a shady third-party site.
• Get tricked into paying via bank transfer, with no buyer protection.

These sites may also harvest your data to use in future fraud.

How to stay safe:

• Be skeptical of sites with extremely low prices or limited information.
• Look for contact details, refund policies, and off-platform reviews before entering payment info.
• Pay with credit card or third-party payment service, like PayPal.
• Be on your guard especially during the end of the year shopping season.
• Our automatic protection spots fake shopping sites and payment pages before you land on them.

4. Cash app scams

Apps like Cash App, Venmo, and Zelle are fast and convenient—but also favorite tools for scammers. Common tactics include:

• Fake giveaways: Promises of free cash in exchange for “verifying” your details.
• Overpayment scams: The scammer “accidentally” sends you too much, then asks you to refund the difference—before their original payment bounces.
• Pretending to be someone you know: Messages that appear to come from friends or family asking for quick cash.

These scams work because payments are instant and often irreversible.

What to do:

• Treat unusual money requests with caution—even if they appear to come from someone you know.
• Check your account or app if the money arrived, don’t trust screenshots with successful payments blindly.

5. PayPal phishing and purchase fraud

PayPal scams have become more refined, with phishing emails or fake seller invoices tricking people into making payments for items that don’t exist—or giving up account credentials.

Some scam messages look like shipping updates or refund requests and direct you to a fake login page that captures your PayPal credentials.

What to do:

• Always go to PayPal by typing the URL directly.
• Don’t click on links in emails or texts unless you’re absolutely sure they’re legitimate.

What’s at stake?

The obvious risk is financial loss. But there’s often more at play:

• Identity theft: If scammers get your full name, address, email, and bank info, they can open credit accounts or buy goods in your name.
• Account takeovers: Reused or weak passwords can lead to broader attacks—on your email, other bank accounts, or even your employer’s systems.
• Long-term fraud: Your details may be sold on the dark web and reused in future scams, long after the initial incident.

How to protect your money now

You don’t have to stop using payment apps or online banking. But a few extra steps can help make sure the only person accessing your money is you.

1. Use strong, unique passwords for every account

And enable multi-factor authentication where available. Don’t reuse banking passwords for shopping or email.

2. Think twice before clicking links

Scammers often impersonate trusted companies. If you get a payment request, bank alert, or invoice, verify it through the official site or app—not the message itself.

3. Don’t download apps from random links

If a “seller” or “customer service” rep tells you to install something to fix a payment issue—don’t. It could be malware.

4. Stay alert to urgent language

“Act now.” “Account will be locked.” “Confirm in 15 minutes.” These are red flags. Take a breath and verify independently.

Let smart tools do the heavy lifting

Unfortunately, even awareness isn’t always enough. According to F-Secure’s Digital Moments survey 2025, 43% of people who believe they know how to spot scams still fell victim. So, even careful people make mistakes. That’s why modern security solutions now offer features specifically built to protect your finances, including:

• Real-time scam and phishing detection
• Protection against fake payment portals and banking scams
• Blocking of malicious apps and websites
• Breach alerts for leaked payment or login data
• Identity monitoring and breach alerts

Did you know Hawaiian Telcom offers internet security protection? Check out how Hawaiian Telcom SafeGuard can help you stay cyber safe.

These tools work in the background to help you spot scams before you click or type something you regret.