Sizing up swindles and scams

In the late 1800s, con artists sold a tonic that could cure all ills. They promised a product that would replicate real Chinese snake oil, which had been proven to treat conditions like arthritis and inflammation. But their concoctions couldn’t treat anything.

Consumers had been had.

The snake oil salesman was born.

Decade after decade, century after century, people have sought to deceive others, hoping to make money or gain power by their con. But in the last decade, online scamming, whether through hacking, phishing or artificial intelligence, has made it even easier to dupe — or be duped.

A recent Newsday news division investigation highlighted the problem’s wide reach. People lost a record $16.6 billion to such scams in 2024, according to the Federal Bureau of Investigation. Nearly 75% of Americans have experienced an online attack or scam, according to the Pew Research Center. Significantly, Pew Research found that about 25% of 18-29 year olds say they’ve lost money in online scams, compared with just 15% of those 65 and older.

That may seem surprising. But such swindling varies widely. Seniors may be told they owe money, that if they don’t pay, there could be severe consequences, or they may think a scammer needs access to their computer — a sure way to be defrauded. For younger victims, the con may come in the form of a Taylor Swift concert ticket that’s a fake, a phishing scam that’s successful when the user isn’t paying attention, a pledge of a job that requires personal information or charges a fee, or a request for funds via Zelle or Venmo or Cash App — funds they’re unlikely to get back.

Right now, during health insurance open enrollment, scams are particularly prevalent, as fraudsters might impersonate the state Department of Health, fake an insurance website or suggest the only way to get an insurance renewal is by paying them.

It’s easy to say it wouldn’t happen to you. But as such cons become more sophisticated, the reality is anyone can be a victim.

Combating this scam-rich environment starts with attentiveness and care. We move quickly through our internet-driven days, and it’s easy to click on a link or answer the phone and assume everything’s legitimate. First and foremost: Stop. Wait. Think. Then, think again. Be wary of guarantees, promises and high-pressured or urgent pitches. When in doubt, check with a trusted family member or friend. Don’t troll scammers and don’t pay a fee or provide account information in supposed exchange for a job, loan or gift. Stick to trusted charity and ticket sales sites, and payment methods that have a mechanism for fraud detection and refunds.

Beyond that, local, state and federal consumer protection mechanisms must remain strong; regulation and enforcement are critical.

When the snake oil salesmen went door to door, they’d invoke promises simply too good to be true. Nowadays, it’s worth remembering the inverse: that the frightening scenarios today’s scammers invoke are likely simply too bad to be true.