The tell-tale signs of a scam
Millions of dollars are lost to scammers every year therefore, it is important to put rules in place in order to not be a victim. Here are 8 telltale signs to look out for.
Sign 1: The return is expected to be 10%+ per annum
Be even more sceptical if they say the investment is low risk. Investments by their very nature have their ups and downs. If it sounds too good to be true it almost certainly is.
Sign 2: Very high past returns
Scammers will try to tempt you by telling you about huge returns they have made in the past. They will select a particular period to present to you or simply exaggerate past returns.
Sign 3: You will be pressured into a quick decision
“Get in now before it is too late” or “act now” are commonly used phrases to get you to sign up. Scammers will prey on the fear of missing out mindset which many people suffer from.
Sign 4: You are approached out of the blue
A stranger approaches you by text, email, or phone with this great offer that is going to make you rich. The truth is they are the ones who are getting rich from this offer.
Sign 5: Free courses or seminars
You are offered a seminar for free or at a minimal cost. The presenters at the seminar can be very pushy and pressure attendees to sign along the dotted line.
Sign 6: Asking for PIN numbers and passwords
This is applicable to email scams. Never, never, never share your PIN numbers and passwords with anyone. Banks will never ask for these. When signing in to your bank type in the URL address and never just click on a link because scammers will set up a fake bank website which looks like the real thing. It is often hard to tell the difference though.
Sign 7: You have won a prize you never entered.
You receive an email saying that you have won a prize in a competition you never entered. This has scam written all over it. Delete the email immediately.
Sign 8: You are asked not to share this opportunity with others
A scammer does not want you to share this so-called opportunity with others; they want you to keep it to yourself. The reason being that others may spot the tell tale signs that this is a scam before you do.
This is all a reminder to be very vigilant and set some hard and fast rules that you never break under any circumstances. Things you can do to prevent being scammed.
1 Never, never, never give out your password or pin number to anyone under any circumstances.
2 Never click on any email links from any bank; instead, type in the URL address and log in.
3 Do not leave all of your money in one bank account. Invest it in several places.
- Do not use the same email you use for banking for signing up to dating websites.
About this article
The information provided is based on the writer’s knowledge and experience, therefore discretion is advised as it may not be applicable to your personal circumstances.
www.robertastewart.com
