| Use these easy to follow tips to protect yourself and | | | | best way to tell whether something is a bogus financial |
| avoid becoming a victim of financial con artists. | | | | product is if it seems too good to be true or it relies |
| Email is the preferred method of financial con artists. | | | | upon a "secret strategy". |
| The benefits of email are that it is difficult to trace and | | | | Tips to Avoid Becoming a Victim of a Financial Scam |
| can be sent out in large quantities. Essentially con | | | | |
| artists are "phishing" for responses. Phishing is defined | | | | 1. IF SOMETHING SEEMS TOO GOOD TO BE TRUE, |
| as the process of attempting to acquire sensitive | | | | IT IS TOO GOOD TO BE TRUE! Avoid anything that |
| information such as usernames, passwords, and credit | | | | is too good to be true at all costs no matter who the |
| card details by masquerading as a trustworthy person | | | | source is, even if it's your best friend, a trusted financial |
| or company. Some phishing emails look extremely | | | | advisor, anybody. |
| realistic, making it very difficult to tell whether it's | | | | 2. Never give out personal information via email. |
| actually coming from a legitimate company. For that | | | | 3. Never respond in any way to an email that appears |
| reason, NEVER give out personal information via email | | | | to be a scam. |
| because legitimate companies DO NOT ask for it this | | | | 4. Never send money to anyone with the promise of |
| way. If you continue to worry that an email was | | | | more money in return. |
| legitimate, call the company (using a phone number | | | | 5. If someone leaves a phone message asking for |
| from its website, not a phone number from the email) | | | | personal information, do not respond. No legitimate |
| that the email supposedly came from and ask a | | | | company ever does this. |
| company representative to verify the email message | | | | 6. If someone asks for personal information in a |
| you received. | | | | one-on-one phone call, verify if that person is actually |
| Not all phishing attacks come via email. Some come as | | | | representing the company they say they are. You can |
| phone calls. For example, messages that claimed to be | | | | do this by saying you are too busy to talk at that time, |
| from a bank told users to dial a phone number | | | | but will call back when you are able. Make sure you |
| regarding problems with their bank accounts. Once the | | | | write down the name and job title of the person calling |
| phone number, which was the phisher's own number, | | | | you. If s/he won't give you a name or phone number, |
| was dialed prompts told users to enter their account | | | | you know it's not legitimate. If s/he will, call the |
| numbers and PIN. Some con artists even make direct | | | | company using the phone number listed online (never |
| phone calls, speaking to potential victims one-on-one. | | | | the phone number the person gave you) and ask to |
| And, these phone calls use often use fake caller ID | | | | speak to the person who called you. If the company |
| information to give the appearance that the calls are | | | | has never heard of the person, you know it wasn't a |
| from a legitimate organization. | | | | legitimate call. |
| Other financial scams aren't looking for personal | | | | 7. Beware of secrets. If someone is trying to sell you |
| information at all. They are trying to sell you some | | | | something that relies upon a "secret strategy", avoid it. |
| phony financial product. This type of scam often | | | | Usually in cases like this, the strategy needs to be kept |
| comes in the form of TV infomercials, print and online | | | | a secret because it doesn't work, is illegal (remember |
| advertisements, mail, email, and direct phone calls. They | | | | Bernard Madoff), is too complex to understand, and/or |
| are usually real products, they just don't work. The | | | | is too good to be true. |