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Five Helpful Tips to Keep Away from Becoming a Fraud Victim

No one wants to a victim of fraud. Unfortunately, no one knows what lays ahead either. If you want to be safe, you just need to watch out and do all you can to keep way from the bad guys. You need to watch every step you make.

Here are five ways to avoid being a victim of fraud;

Understand that wiring money and sending cash are almost the same thing

What you may not know is that con artists are actually very happy when people wire money. Why…, because as soon as you wire the money, it is nearly impossible to reverse the transaction. You can’t even trace the money. So, the rule is simple: Do NOT wire money to a stranger, a “relative or friend” who wants to keep the transaction private, or to anyone who insists on wire transfer only.

Do you know the person you’re dealing with?

If your answer is no or not very well, then pause a bit before sending the money. Try to find the seller’s physical address and home phone number first. And please, a P.O. Box is never enough; you want a residence address with the street address and similar details. Conduct an online search to confirm the name of the seller’s company and finds its website to read a few reviews before making a judgment.

If a message is asking for personal and financial information, do not reply to it

It doesn’t matter where the message is coming from. It might be an SMS, a phone call, an email etc; just don’t answer it. Also, NEVER click on links or call numbers included in the message. These cons only need a small piece of information so just a simple click on a random link is usually enough. You do not want to give them access to any personal information at all.

Say NO to foreign lottery

Actually, it is against the law to play foreign lottery. However, some people still find ways of breaking that law. For your safety, avoid it. Typically, you will win jackpots pretty fast. But you’re likely to lose everything that you ever “win” there.

Report the scam

If you think you might have been scammed, you can file a complaint with the FTC (Federal Trade Commission) or your attorney general. If you have chargeback prevention, you’ll need to inform your insurer immediately.