Scammers are busier than ever, and you’d be surprised at the depths they will sink to these days.

A scammer might impersonate a loved one in financial distress, or charge a family for fake protection from imminent foreclosure. It’s appalling.

We all think we’ll never fall victim to these scams, but fraudsters know the tricks for catching people off guard. It’s important to be aware of these widespread scams so we can quickly spot and avoid them.

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Common Financial Scams

Here’s an overview of common scam tactics and red flags.

1. Grandparent Scam

Scammers pretend to be your grandchild, or a representative of your grandchild, claiming they need emergency funds sent right away. They might try to disguise or lower their voice and use information from social media accounts to be more convincing.

If they ask you not to tell anyone else in the family, and they have an urgent need for funds, that’s a big red flag. They’re trying to rush you into sending money before verifying the story with other family members.

Read More: AARP’s tips for avoiding grandparent scams

2. Lottery/Sweepstakes Scam

Have you ever been told you won a contest, but you don’t remember entering? Don’t fall for this common ruse. Scammers will call you or write a letter saying you’ve won a prize, but in order to claim the prize, you must first pay taxes. The scammer then runs off with your money.

Legitimate sweepstakes do not require you to pay to collect your winnings. Foreign lotteries are illegal—you have not won.

3. Craigslist Scam

On Craigslist and other online marketplaces, scammers will often use overpayment to trick people out of their money. When you sell an item, the scammer will give you a check for a larger amount and then ask you to refund them the difference. Later you find out that the check is no good, and the scammer has already left with your money and your item.

4. Sweetheart/Romance Scam

Scammers love to take advantage of people’s compassion and emotions. Sweetheart scams often happen online but can sometimes be in person, too. The scammer pretends to be interested in a romantic relationship with you, gaining your trust. Then they start asking for money, possibly claiming they need to overcome some obstacle so you can be together.

They might say they need to pay off debt, buy a plane ticket to come see you, or raise funds to cover some fake emergency. The FTC has a simple formula to remember: Online Love Interest + Asks for Money = SCAM.

Read More: What you need to know about romance scams, according to the FTC

5. Email Wire Fraud

An email wire fraudster will try to hack into your email account and reach out to your contacts. Pretending to be you, they will ask your contacts to wire funds to you, but the money will actually go to the criminal’s account.

6. Rental Scam

These scammers entice would-be renters with attractive rental property ads. They’ll request your security deposit up front via a wire transfer, before you have a chance to see the property and confirm the details.

7. Title Company Scam

Some scammers will pretend to work for your title or escrow company. They’ll send you instructions to wire funds for mortgage and title fees, but the funds are really going to them.

8. Mortgage Relief Scam

This scam targets homeowners who have missed mortgage payments and are at risk of foreclosure. The scammers will charge you in advance for mortgage relief, guaranteeing they can stop your foreclosure, but they really just walk away with your money.

Read More: How to spot a mortgage relief scam

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Avoiding Financial Scams

Keep these things in mind to avoid scams.

• Scammers will often request untraceable sources of money, like wire transfers, gift cards or cash.
• Watch out for people asking you to wire funds. Do not wire funds to anyone who overpays you for something, especially online.
• If someone sends you a check or money order to pay for something, then cancels the deal and asks you to cash the check and wire them the money back, this is a scam.
• Imposter scams are very common. Scammers will pose as someone you know or trust, or a representative of a company you trust, and then try to get you to send them money. Read more about imposter scams.
• Avoid acting immediately when someone asks for money. Take time to check the details, confirm the person’s identity and corroborate the story with other family members or associates.
• Do not give your online username or password to anyone.
• If something feels off, it probably is.

Read more about current scams and ways to protect yourself on our Fraud & Scam Resources page.