Finance Dictionary : Scam


Learn about scams, intentional deceptions designed to unlawfully obtain money or information, often targeting unsuspecting individuals and organizations. Stay informed to protect yourself.



Scam: Deliberate Deceptions for Unlawful Gains


A scam is a meticulously planned and targeted deception with the intention of acquiring money, personal information, or other valuable assets through unlawful means. Scams come in various forms, often exploiting the trust or vulnerability of individuals or organizations. 


These fraudulent schemes are executed through various mediums, including online platforms, emails, phone calls, and in-person interactions. Scammers employ tactics that manipulate victims into divulging sensitive information, making unauthorized payments, or engaging in financial transactions that ultimately benefit the scammer.


The consequences of falling victim to a scam can be severe, leading to financial loss, identity theft, or reputational damage. Due to the ever-evolving nature of scams, individuals and businesses are encouraged to remain vigilant, educate themselves about common scam tactics, and take measures to protect against potential deception.


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