There is a pattern around the ember months. As the year winds down, fraudulent activity and financial losses have historically shown spikes around this period.
More people are spending, doing business and looking for ways to make money before the year ends. This is what the year-end rush creates. It creates an opening for scammers, giving them plenty of room to make a fraudulent offer look like exactly what someone needs.
These days Scams looks believable. They can look like a timely opportunity or a deal that seems too good to ignore. Often, the warning signs only become obvious after it is too late.
That is why staying ahead of a scam is not just spotting what looks suspicious. It is knowing when to pause, check the details and ask the right questions before making a financial decision.
Here are things to look out for:
When the investment looks legitimate
Sometimes, everything about an investment opportunity looks right on the surface.
Some promise unusually high returns. Others present themselves as sophisticated investment platforms, build credibility through social media and use testimonials to make the opportunity feel proven. Ponzi schemes can be particularly convincing because early participants may receive returns, creating the impression that the investment is working.
CBEX showed how believable this can be. In 2025, the platform attracted Nigerians through referrals and promises of high returns. Some people were initially able to withdraw money, until it becomes impossible when the platform later collapsed, leaving investors unable to access their funds.
The lesson here is a friend making money from an investment is not due diligence. Neither is a professional-looking website.
Before putting money into an unfamiliar investment, check who operates it, what it actually invests in and whether it is registered with the relevant regulator.
The opportunity can wait. Verification should come first.
When a business opportunity comes at the right time
The ember season often comes with increased demand.
For businesses, that can mean more orders and an opportunity to increase sales before the year ends.
At that point, for a business owner, a large order or an opportunity to stock up ahead of the rush can seem like exactly what the business needs.
That is also where scammers can find an opening.
A business owner trying to move quickly may receive a convincing offer from someone posing as a supplier, distributor, or client. There may be a request for an upfront payment, a deposit or sensitive business information before the transaction can proceed.
The pressure to secure the opportunity can make it tempting to skip a few checks.
Before paying a new supplier or committing money to an unfamiliar business opportunity, verify first.
When the deal online looks too good
The ember season is also a busy period for shopping.
That gives scammers plenty of opportunities to create fake stores, fake vendor accounts and fake promotions.
The pattern is familiar: an attractive product, an unusually low price and a reason to pay immediately before the offer disappears.
NIBSS identifies commerce scams as one of the social media fraud methods used by scammers. These scams can involve attractive offers and urgency designed to get people to make payments before receiving any value.
Before paying an unfamiliar seller, check the account history, look for reviews and confirm that the business actually exists. Be especially careful when the seller insists on an unusual payment method or keeps creating reasons why payment has to happen immediately.
A discount is not a bargain if the product never arrives.
When a giveaway asks for money first
“Congratulations, you have won.”
It is a message many people would be happy to receive.
Fake giveaways work by creating excitement before asking for money or personal information. A scammer may claim that a processing fee, delivery charge or verification payment is required before the prize can be released.
NIBSS identifies promotion and lottery scams among the social media fraud methods used by scammers, including schemes where people are told they have won a prize and asked to pay an advance fee.
You need to first ask one simple question: Did I actually enter this giveaway?
If the answer is no, there is probably no prize waiting to be claimed.
Even when a promotion appears to come from a real company, verify it through the company’s official channels rather than clicking a link sent in an unexpected message.
When a message creates a financial emergency
Phishing and payment scams depend heavily on urgency.
A message may claim that an account needs to be verified, a payment has failed, a package cannot be delivered, or an offer will expire unless action is taken immediately.
The goal is to get the recipient to click a link, reveal sensitive information or transfer money before they stop to question what is happening.
This is why unexpected financial messages deserve extra attention.
Do not share PINs, passwords or OTPs because someone claims they need them to reverse a transaction or secure an account. Do not click unfamiliar links simply because a message appears to come from a bank, fintech, delivery company or another familiar organization.
When in doubt, leave the message and contact the organization through an official channel.
Slow down before the money leaves
The most effective scams often have one thing in common: they give people a reason to act before they have time to think.
This ember season, slowing down can be a financial decision in itself.
Before money leaves your account, verify.
The year may be coming to an end, but there is no financial goal worth achieving by putting money at unnecessary risk.
Stay one step ahead of scammers.
