Common Financial Scams That We Need to Avoid

Fraudsters are always looking for ways to trick unsuspecting people. In this case, we could eventually part with our money due to some tricks that they do. The availability of mobile phones, email and Internet makes it easier for them to con average people. They could offer very enticing offers on so many things, such as the opportunity to gain plenty of money by working at home. They would say that no experience is required and people will get huge earnings potential. It is important to be our own boss, so we can work flexibly. It is actually something that many people want.

In this case, we shouldn’t get sucked too easily into joining up. Often, we will be required to pay an upfront fee for materials, administrations and other expenses. Legitimate employers should be able to tell people how they could better offer a way to improve the profitability of their new employees. Unfortunately, after sending this fee, many people would never hear from this company again. Also, any work we do can be rejected due to various insensible reasons. They will return our works for further improvements and they will never be approved and we will never get a payment for our hard work.

We could also receive scams through email and the most classic ones usually come from Africa, particularly Nigeria. Some deposed government officials or princes will need to transfer a huge amount of their money to other countries. At first, they will flatter our vanity; by choosing us due to our competence, discretion, trustworthiness and reliability. Unfortunately, they will require us to pay some amount of fee and of course, we will never hear from them again. In fact, some victims discover that their bank account is emptied; because they also divulge other critical details.

Telemarketing scams are other things that we also need to consider. In this case, we will be told that we have won a foreign lottery or draw. We will be asked to claim the prize by paying an administration fee. We will also be told to call a phone number through premium rate and people on the other side will intentionally leave us hanging for long, as our phone bulls mount. If we are contacted by such individuals; we should be aware whether we bought a lottery ticket in the past. It is impossible for us to win, unless we have entered it before. We should be suspicious if it is unsolicited.

Phishing is another form of scam that may appear to originate from a legitimate company. They will inform us about specific changes in rules in our online banking account. We will be asked to enter some information to conform to these changes. The email message will contain an URL and if opened, it will look like a genuine login interface of our online baking account. If we enter our username and passwords, these people will immediately gain our details.