CYBER AWARE: FAKEAWAYS – When free becomes costly—What is a fake giveaway?

When free becomes costly—What is a fake giveaway?
A fake giveaway is a scam disguised as a contest or prize promotion. The goal? To trick you into giving away your personal data, money, or both. While some fake giveaways are just a nuisance, others can have serious consequences. Fake giveaways are one of the many traps scammers use to steal your personal data, money, or even gain access to your accounts.

Of course knowing how to spot “fakeaways” can save you from a major headache—and possibly protect your information and bank account.
A recent blog post by Avast discusses the scam and looks at ways Small Businesses can avoid falling for the “Fakeaway Trap” and outlines the key top 10 red flags and knowing how to spot them:

The immediate dangers from falling for a “Fakeaway” scam are:

Identity theft: Your personal data could be stolen and used for fraudulent purposes.
Financial loss: Scammers may ask for “processing fees” or payment information.
Infected devices: Links in fake giveaways often lead to malware-laden sites.
Phishing attacks: Your login credentials could be stolen, locking you out of your accounts.
Time wasted: You spend effort on tasks for a reward that will never come.

Recognizing the red flags can help keep you safe. Here’s how to separate the scams from the real deals:

1. It’s a real brand, but the account isn’t verified
2. The account is brand new
3. Spelling and grammar mistakes
4. Excessive tasks to enter
5. It doesn’t have terms and conditions
6. The prize is too good to be true
7. The account gets bot-like engagement
8. You “won” but didn’t enter
9. They request payment information to claim the prize
10. It’s April 1st