What do you think of this job proposition? When you invest, you earn. Seems suspicious, doesn’t it? This scheme has become one of the rapidly growing fraudulent job practices currently.
Examining job frauds holistically, data from the U.S. Federal Trade Commission (FTC) indicates that reports on job scams have almost tripled between 2020 and 2024. Furthermore, reported financial losses have surged more than fivefold, reaching $501 million in 2024.
Overall, job scams are more prevalent and financially damaging than ever before.
And at the forefront of these monetary losses is a novel type of job hoax, where victims literally have to “invest to earn.”
“Invest to earn,” the most popular job hoax circulating
These “invest to earn” scams, labeled by the FTC as “gamified job scams” or “task scams,” are well-named considering their operations. The tasks resemble a gaming approach, but the only winner is the fraudster.
The scenario unfolds as follows:
You receive a job offer via text or private message. The fraudster presents you with “work” related to “app optimization” or “product enhancement,” typically described vaguely.
You agree to the offer. Subsequently, they set up an account for you on a fake app or platform where you are assigned tasks like “liking” or “rating” various videos or product images online.
You begin working. The app or platform is bogus, but it gives the impression that you are earning commissions as you complete task sets. At this stage, the fraudster might make a few small payments, making you believe the job is genuine.
The trap is set. Here comes the game-like aspect of “invest to earn”—if you desire more tasks, you need to make a payment. The fraudster demands a “down payment” for your next task set. Similar to a video game, they sweeten the deal by promising that the next set can boost your earnings.
You fall victim. You make the payment, complete the tasks, and try to claim your earnings from the app or platform—only to realize that both the fraudster and your money have vanished. It was all a sham.
Based on past observations, these scams draw inspiration from other fraudulent practices observed on payment applications promoting “easy money.” Such scams build slowly, gaining the victim’s trust by delivering minor returns on small investments before requesting a substantial sum and vanishing with it. “Invest to earn” scams operate similarly.
Here are a few points to bear in mind about this deceitful practice:
- According to the FTC, any job offering payment for “liking” or “rating” content is unlawful. The irony lies in asking individuals to perform illicit acts, ultimately leading to theft.
- Reports indicate that scammers frequently finance these scams using cryptocurrency. In fact, the FTC reports that the public loses substantially more money to job scams involving cryptocurrency than any other payment method.
Safeguard Your Finances from “Invest to Earn” job scams
First step—disregard job solicitations via text and social platforms
Legitimate recruiters will contact you via email or professional networking portals. They will furnish you with clear job specifics and address any inquiries you have comprehensively.
Conversely, scammers send vague texts and private messages, emphasizing hype but lacking detail. Inquiries about the job prompt equally vague responses. It’s best to avoid such offers.
Second step—research the company
In the case of online job offers generally, investigate the company. Assess its background to confirm its legitimacy and compare that with the information provided by the recruiter.
In the U.S., numerous resources can aid in this investigation. The Better Business Bureau (BBB) boasts a directory of U.S. businesses, offering a brief overview, ratings, and details of complaints (along with company responses). Spending time here can rapidly reveal the credibility of a company.
For information on businesses with U.S. and global operations, entities like S&P Global Ratings and the Dun and Bradstreet Corporation can provide further clarity.data-ccp-props='{“335557856”:16777215}’>
Lastly, take a look at the company’s official site. Check if there is a job listing that corresponds to the one you have been offered. Conducting this groundwork can help uncover a potential scam.
Step three—decline to make payment
As straightforward as it may seem, do not make any payments in exchange for payment.
In any situation where you are required to make an upfront payment, regardless of the payment method, reject it. A legitimate employer will never request you to invest money or deposit a small amount with the promise of a large return. Furthermore, a legitimate employer will provide you with resources such as training or tools for the job you are qualified for.
Additional methods to avoid online scams
Our online security software has the capability to significantly enhance your protection against job scams and other forms of scams. Regarding job scams, here are just a few ways our software can provide assistance:
- Scammers still utilize links to harmful sites in an attempt to deceive individuals into revealing their personal information. Web security features, included in our packages, can guide you away from these deceitful links.
- Scammers often embed links to suspicious websites and other locations within messages to steal personal data. McAfee+ can intercept these links and prevent you from interacting with them. Through AI technology, scams can be automatically identified by scanning URLs within your messages. Should you mistakenly click on a malicious link, it will be blocked from accessing a hazardous website.
- Attackers acquire your contact details from various sources, with many obtaining them from data brokerage websites. Leveraging numerous data points on billions of individuals, they can collect your contact information and other personal data to tailor their attacks. McAfee’s Personal Data Cleanup scrutinizes high-risk data brokerage websites, identifies those selling your personal information, and, in certain cases, offers assistance in removing it.
- You can also decrease your visibility on social media utilizing our Social Privacy Manager. This tool enables you to modify over 100 privacy settings across your social media profiles with just a few clicks, ensuring that your personal data is only viewable by individuals you choose to share it with.
The article “Pay to Get Paid” – The New Job Scam That’s Raking in Millions Right Now was first published on McAfee Blog.
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