Warning Signs of Money Scams

Familiarizing yourself with the tell-tale signs of money scams is the best way to protect yourself from scammers. Many scammers gain your trust by impersonating a known person or by requiring you to pass through verification procedures in an effort to steal from you. The following are some of the common warning signs of money scams.

Emails With Unbelievable Offers

Scammers are notorious for sending emails that promise their victims huge sums of money for free. These messages may declare that you have won a lottery, sweepstakes, or a prize, and that you need to follow a few steps to get the money. Often, the scammer will ask you to wire money or pay a fee to receive the money. If you receive an unbelievable offer from someone you do not know,  it is a scam.

Phishing Scam

If you recently bought something online and you get an email informing you of a failed delivery, then you should be wary. The email will ask you to update your information. If you cannot confirm who the email is from, or the email has a malicious link, this is no doubt a scam. Thieves also create a sense of urgency in these emails. You should not act in a hurry; make sure you confirm whether the email is real.

An Unencrypted Website

Scammers take advantage of unencrypted websites to attack their victims. Using an unencrypted site leaves you exposed to cyberattacks. Make sure you visit websites that have “https” in the address bar. When you provide financial or personal data through an unsecure site, it can be stolen easily. Bear in mind that any reputable online shopping site or bank requires a secure website.

An Offer To Buy With An Alternate Payment Method

If you are receiving payment online, make sure you get it through a secure method. Scammers can actually steal from you even if you are receiving the payment. Watch out for fake checks or wire transfers. If you are suspicious that you are dealing with a fraudulent person, ask for payment in person.

Scammers have many ways of stealing money from their victims. The first defense against theft is to identify some of the methods that thieves use to steal from you. As a rule of thumb, make sure you watch out for emails with unbelievable offers, phishing scams, unsecure sites, and offers to buy with alternate payment methods.

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