How to Recognize a Scam

Scams are becoming more and more sophisticated and sometimes difficult to recognize. Especially with advances in technology and the ability to find personal information about people online. Scammers are excellent at presenting themselves as legitimate and earning people’s trust. How can you protect yourself from falling victim to a scam? Be skeptical. Always question why someone is offering you a deal or contacting you and research them thoroughly before sending any personal or financial information. Here are a few additional tips to keep in mind to help you recognize a scam:

  1. If it sounds too good to be true, it probably is. Everybody likes to find a great deal and passing up hundreds of dollars of potential savings is hard to do but it is worth it to protect yourself from losing money or having your identity stolen by a scammer. For example, if a home security salesperson is at your door offering you a $1,000 discount on the latest system with free installation just because your address ends in the number “5” and in order to take advantage of the deal, you have to pay a down payment right then, it is probably a scam.
  2. If the salesperson is insisting that you pay immediately, it is probably a scam. Most offers do have an expiration date, but legitimate companies give customers a chance to review the offer first. Scammers pressure people to pay immediately so that they take their money before the customer realizes it is a scam.
  3. If contact is made completely out of the blue, it may be a scam. Getting a message from an old high school crush or long-lost friend is exciting but be very cautious. It is very easy to find lots of personal information online through searches and Facebook. If an “old friend” makes unexpected contact and something just doesn’t seem right (even though they know the name of your high school, former teachers, etc.), trust your instinct. Especially if this person suddenly needs money. Scammers will use your good nature against you.
  4. Never give out personal or financial information through email or on the phone to someone calling from an unknown number. If you are unsure if it is really the company calling you, tell them that you will call them back (look for their phone number on their website or card or statement).
  5. Trust your gut and resist the urge to be impulsive. If something just doesn’t feel right, trust your instinct and don’t do it. Lots of victims of scams say that they had a feeling that something wasn’t quite right, but they didn’t want to seem rude or miss out on a deal. Had they listened to their instinct they may not have fallen victim to the scam. Always take the time to make sure that you are dealing with a legitimate company and the person really is who they say they are.

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