Scam alert: Red flags to look out for before sending your money
By Katemarthason Okudo, September 4, 2026Sending money has become easier than ever. With mobile money, banking apps and online payment platforms, a transaction that once required a trip to a bank or agent can now be completed within seconds.
But the same convenience has also made it easier for fraudsters to target unsuspecting people. A message promising a job, an unexpected prize, a cheap item online or an urgent request from someone claiming to be a friend can quickly turn into a financial loss.
The pressure to act quickly is often part of the trap. Taking a few minutes to verify a request before sending money can save you from losing much more.
Pressure to pay immediately
One of the clearest warning signs is when someone insists that money must be sent immediately.
A fraudster may claim that an offer will expire within minutes, an account will be closed, or an emergency requires an instant payment. The intention is often to prevent the victim from taking time to verify the information.
Genuine businesses and individuals may sometimes need urgent payments, but pressure should not replace verification. If a request feels unusually urgent, it is safer to pause and confirm who is receiving the money and why.
Promises that sound too good
Another warning sign is an offer that promises unusually high returns with little or no risk.
This is common in fake investment opportunities, online businesses, and pyramid schemes. A person may be shown testimonials or screenshots suggesting that others have already made large amounts of money.
Promises of high returns with little or no risk, pressure to invest quickly, and schemes whose owners are unclear can be warning signs of fraud. The bank advises the public to be cautious before putting money into such arrangements.
A legitimate investment opportunity should allow someone enough time to understand how it works, check who operates it and consider the risks involved.
Requests for personal information
Sometimes the scam does not begin with a request for money.
A fraudster may first ask for a PIN, password, account details, identification information or a verification code. The information can then be used to access an account or carry out unauthorised transactions.
A message may even appear to come from a bank, mobile money provider or another familiar organisation.
Instead of clicking a link provided in an unexpected message, customers should use the organisation’s official channels to confirm whether there is a genuine issue with their account.
Be careful with online sellers
Social media has made it easier for small businesses and individuals to sell products directly to customers. However, it has also created opportunities for fake sellers.
A very low price, a seller who refuses to provide verifiable details or demands full payment before answering basic questions should raise concern.
Before sending money for an online purchase, it is worth checking whether the business has a physical location, reliable customer reviews and verifiable contact information.
Confirm requests from friends and relatives
Scammers do not always pretend to be companies. Sometimes they impersonate people you already know. A message from a friend’s number or social media account asking for emergency financial help may appear genuine, especially if it contains personal information.
However, accounts and phone numbers can be compromised.
Financial experts advise people to contact someone directly to confirm a request for financial assistance, particularly when it comes through email or text unexpectedly. It also recommends checking that a person or company is genuine before making payments.
Think before pressing send
Once money has been sent, recovering it may not always be straightforward. That is why the most useful protection is often taking a moment before completing the transaction.
Check the recipient’s details, question unexpected requests, avoid sharing confidential information, and be suspicious of offers that promise easy money.