Shhh, it’s a Secret!
Do you know what almost every person on this planet enjoys? Making extra cash! We always hear about the next great “side hustle” and how it can be your ticket out of debt. Believe me, I’m right there with you; no one likes the never-ending cycle of owing money. Unfortunately for those of us looking for the ultimate side job, some of these gigs come with a heaping helping of fraud. Let’s talk more about that.
Anyone who has worked in retail or hospitality, for instance, will be familiar with secret shoppers and the important role they play in the industry. For those of you who have not had the chance to work in a field that employs secret shoppers, allow me to explain what these individuals are responsible for. A secret shopper will enter a business posing as an average customer. They are often asked to observe their surroundings, such as the establishment's cleanliness, the layout, and any prominently displayed advertisements. They are also asked to complete a transaction to assess their interactions with employees. The shopper is then reimbursed for their purchase price or with a flat fee, depending on the job details. Secret shoppers may be hired specifically for viewing multiple establishments, or they may be employees of an organization sent in to rate one particular chain.
So, where does rampant fraud come into play? Scammers know that there are generally no prerequisites for becoming a secret shopper. The opportunity to cast a wide fraud net is too tempting to pass by. Often, the fraudster employs one of the following tactics to steal from their victims.
Charging a fee for the work. This might include supposed fees for training, equipment, certification, or any other “required” expense. The fact is, there is no reason to pay even a penny for a secret shopping role. If you see any charge requested, it is a scam.
Sending back part of your earnings. This common scam asks the victim to deposit a check in their bank account but to send a portion back to their “employer.” If you see this request, beware! The payment will not clear your account, and you will be responsible for any resulting fees and negative balance.
Out-of-the-ordinary assignments. Most secret shopping opportunities take place within the retail and fast-food industries. If you see an assignment for something unusual, it should send up red flags. You will never be asked to secret shop financial transactions or financial institutions. While those positions do exist, they are always assigned to specialized individuals rather than being open to all applicants. For example, you would never see a legitimate secret shopping opportunity for a wire transfer service provider. While we are talking about wiring funds, never wire money to anyone that you do not know in “real” life.
Remember, a secret shopping gig is a great way to earn a little extra cash. It’s not a way to replace your current full-time job, nor is it a “get rich quick” method. Any job listing that promises high-paying secret shopping tasks is fake. You’ll find plenty of money-making opportunities in your job search, but be on the lookout. Some of them sound a little too good to be true. Some are obvious fakes. You want one that sounds just right.
For more information about fighting fraud, check out what the FTC has to say about it.
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Krista Kyte is a personal finance blogger and personal banker with over 20 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that help consumers reach and maintain financial security and start living the life they’ve always wanted.
