Experts warn that scammers exploit panic and trust, urging parents to educate children about recognising fake messages, safeguarding personal data, and following a ‘three-minute rule’ before acting on suspicious communication.
Parents should treat any message asking for a texted code, a link click or an urgent payment as a red flag, according to Sergei Shcherbakov, technical director at Stakhanovets, who said children are often targeted because scammers rely on panic and trust. He warned that a one-time code sent by SMS should be treated like a key to a bank account, and that any request from a stranger to share it is a scam.
The advice comes as fraudsters continue to adapt their methods, with official guidance from the FBI, the New York State Department of State and several banks warning that criminals increasingly use text messages, fake websites and impersonation tactics to steal money and personal details. The FDIC said consumers reported losing $12.5 billion to fraud in 2024, underscoring how costly even a single successful scam can be.
Shcherbakov also urged families to restrict access to banking apps, use strong passwords and turn on biometric protection such as fingerprints or Face ID. That extra layer matters, he said, because children may not fully grasp the consequences of entering credentials or approving transfers when they are under pressure from a caller or a message that appears urgent.
He added that parents should discuss fake job offers and scams spread through games and social media, where fraudsters may promise in-game currency or gifts to lure young users. His so-called three-minute rule is meant to interrupt that pressure: if a child receives a suspicious message or call, they should pause and speak to a parent or other adult before acting. If money has already been sent or details entered on a dubious website, the next step is to block the card, call the bank using the number on the back of the card and file a police report.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
