A New Freelance Writing Scam: “I’ll Buy Your Business!”

The latest freelance writing scam involves an entity that wants to buy your business. You get an email, you schedule a meeting, and you walk away with a paycheck. Sounds perfect, right? That’s what the scammers hope you’ll think.

I’ve written about freelance scams before, and I do so because I think it's critical to shine a light on the process and keep others safe. Let me explain how this works.

Step 1: The Outreach

The scam begins with a simple email that looks a little like this.

Heading: Investment in <<your company name>>


Body: Hello! My name is <<whatever>>, and I have a client that’s interested in buying companies within <<your company’s name>> space. Would you be interested in a quick phone call this week to discuss the opportunity?

Notice that these email messages are really basic and easy to send out at scale. All they need is your company’s name to fill in the customization and shoot this out the door.

Here’s what to look for:

• Your company’s name. In all of the email outreach I’ve had, my company’s name isn’t correct. Many of these scammers assume freelancers will call their companies <<Name>> Consulting. So they’ll pop that in the email and figure it’s probably close enough.

• Your email address. These scam emails can come to all sorts of addresses. As of this morning, none have hit my official work address. All of them came to personal or throwaway accounts.

• Their company’s name. Most of these scammers take an existing company’s name (like a bank’s name) and tweak it by adding a letter or a location. So “Pacific Bank” becomes “Pacifics Bank” or “Midwest Investments” becomes “Midwest Investments UK.” It’s subtle, and if you don’t check, the email can look legit.

Step 2: The Meeting

First off: Don't accept any meetings with a scammer. It's a good way to get hijacked before you even get started. For example, they might send you a calendar invite you must accept, and it could include malware. Don't risk it.

If you did take a meeting, a professional-seeming person would ask what seems like reasonable questions about the business. How many clients do you have, how much do you have in reserves, how much is your assessed value, this sort of thing.

Expect these meetings to be really short and perfunctory. Remember that scammers run these things at scale. They don’t have a lot of time to waste on any single mark. Trust is the goal. When they think that’s achieved, they’ll end the meeting.

Step 3: The Pitch

After the meeting ends, you’ll get an offer. Expect some kind of formal-looking contract that outlines the terms of the sale, how much you can expect, and when you’ll be paid.

Here’s what to look for:

• Spelling. It’s amazing how many of these scammers don’t bother with basic mechanics. Most attachments and other documents you’ll get as part of this scam will contain basic spelling problems, including your name, place names, and bank names.

• Fraudulent seals. Some of these documents may look authentic, as they’re scattered with official-seeming signatures and seals. Look closely, and you’ll find misspellings and subtle shifts (like “U.L.” instead of “U.K.”).

• Pressure. The scammers don’t want you to pay too much attention or read too carefully, so they’ll give you some wild deadline to sign (like 45 minutes).

Step 4: The Theft

You’ve signed the documents and should be all ready to go. But lo and behold, there’s one more hoop. You’ll be asked to make a small deposit before the transaction is final to cover legal fees. Or you’ll be asked to place your company’s assets in a trust until the sale is complete and you get paid.

Sometimes, this is the end of the scam. But sometimes, this loop repeats. You’ll need to make just one more small deposit or one more tiny transfer.

Know that anything you give them is never coming back to you. As a worst-case scenario, you’ll lose access to your business assets and your money.

Stay Safe from Freelance Writing Scams

Times are tough for freelance writers, and it’s easy to reach for what looks like a lifeline. But remember: Writers are also exceptional researchers.

Investigate unexpected email just as you would a stray fact in a story you’re writing. Do your homework on the company, the person, and the pitch.

And then share what you found. Let’s expose these scams in detail and ensure no one else gets caught.

Stay safe out there.