Common financial scams and how to avoid them

Dealing with financial scams is never an easy task, so the best thing to do is always focus on prevention.

And, considering the level of creativity of scammers, the best solution is to always stay up to date with new scams that appear in the financial market.

Today we will talk about some of the most common scams, as well as giving you tips to avoid them, so if you want to protect your money, come with us!

Have financial scams been less frequent with the popularization of the internet?

Financial scams have always existed, since since the beginning there have been people specialized in taking advantage of others.

But, especially in the past, where access to information was limited, we can say that many people became victims of scams out of naivety.

This is because, today we only need to access our accounts online to check information, previously we had to go to a bank branch.

As a result, phone calls and even correspondence were frequent channels for scams, since the customer was unable to consult the information right away, which favored the fraudster’s version.

However, anyone who thinks that financial scams have reduced with the popularization of the internet is mistaken, as they have only changed their “dress”.

This is because scammers currently use social media and rely on the right communication to convince victims.

So, no matter how advanced your smartphone is, or how well-informed you are, it’s still worth informing yourself about the subject frequently to avoid problems.

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4 Common financial scams: learn about scammers’ main strategies

By now you know that we are all prone to falling for financial scams, as scammers are highly perceptive and update themselves frequently.

Therefore, the only way to protect yourself is to be as up-to-date as the scammers, so you will have an easier time identifying losses.

See now some of the most common financial scams today.

1. False charges

This is a classic financial scam, but false charges are certainly the most common type of scam today.

This type of scam basically consists of SMS-type messages or even via social networks reporting some type of debt or registration inconsistency.

In the messages, the scammer identifies himself as a representative of a certain company, and indicates a link for the victim to resolve the “problem”.

However, this link will take you to another scammer, who in addition to stealing your data, will try to take some money.

The losses from this type of scam can be very serious, especially for those who believe they are actually paying a debt, as the person loses the money and continues to owe the official company.

How to avoid it?

Always be skeptical about charges, especially when they are made via social networks or SMS, as companies do not usually use these channels.

Furthermore, always contact the company’s official service channels to verify the veracity of the information.

And, most importantly: never make payments through unknown links without any type of confirmation.

2. Calls from relatives requesting money due to an accident

Appealing to issues that involve people’s feelings is certainly one of the most common strategies used by scammers.

This is because, just thinking about a family member with some kind of problem makes us despair, the ideal scenario for those who want to make money.

This type of scam occurs as follows: the fraudster gets in touch pretending to be or is with a family member or friend of the victim, and informs them that there has been an accident.

At this point, the most common thing is for the victim of the scam to become desperate, and that is when the scammer takes the opportunity to ask for loans to solve the problem.

Obviously there is no accident, but the victims end up transferring values, and thus suffer a huge financial loss.

How to avoid it?

If a family member or friend suffers an accident, those responsible for calling you will probably be from the police or rescue, so be skeptical about calls from strangers.

Also, try to talk to the potential victim first. In most cases, the person is well and in the comfort of home.

The most important thing is to never transfer any money until you know what is really happening.

3. Fake job offers

If you are looking for a job, it is important to know that there are many scammers logged into job platforms.

The aim of these fraudsters is precisely to contact people to make them job offers that do not actually exist.

During the contact, the focus is on convincing the person that this is a real vacancy, but at a certain point the “recruiter” requests the deposit of funds to begin the selection process.

Clearly this is a fake vacancy, so after the deposit, the “recruiter” will disappear, taking your money.

How to avoid it?

It is important that you know that no serious job vacancy will ask you for deposits in order to participate in the selection process, so if you receive this type of proposal, do not respond and report the profile.

Furthermore, always check whether the recruiter is actually hired by the company. You can use LinkedIn for this.

4. Fake matches

Parcel delivery systems are still scammers’ favorites for carrying out financial scams.

In general, this type of scam works like this: you receive correspondence in a suspicious envelope, about some type of promotion or even debt collection.

In general, this type of correspondence is very appealing, and usually comes with the words “pay your debt within 24 hours or suffer losses” or “unmissable promotion: $100 for $12”.

The purpose of the correspondence is to convince the sender to make payments or deposits, which will go directly into the scammer’s account.

How to avoid it?

Never make payments based on correspondence. Always contact the indicated company to verify the accuracy of the information.

Furthermore, always be wary of overly appealing or advantageous proposals, as the chance of it being a scam is high.

Finally, now you know the main financial scams and know how to avoid them, so share the information with those you care about, so that they can also protect themselves!

Read more: 4 Passive Income Ideas to Help You Make Money – valuedyou.com.