Know These Big Red Flags of Money Scammers

Hi Friend,

The other day my wife and I were discussing the number of times we’ve encountered scammers. I remember the time when my credit card company notified me.

They said that someone compromised your card. I wasn’t even aware of the compromise.?

The credit card issuer sent me a new card within a few days. Since no harm occurred, I had relief.?

Another time, I forgot to renew my computer’s security software and ended up on a malicious website. The virus messed up my computer. The security software company fixed the problem over the phone.?

A few years later, someone hacked my wife's Facebook page. Her Facebook friends received emails asking for $2400 donations to her favorite charity. The email included a scam link for making the donation.

Fortunately, her friends knew this was out of character for her. They avoided major scam damage by notifying her. These experiences taught us to always be watchful of scams.

I want you to be on the lookout for red flags and stay vigilant against scams.

Here are some noted scams and what you can do to protect yourself.?

The Urgency Trick: Hurry Up or Miss Out!

Scammers often make it seem like you have to act fast. They’ll say the offer ends soon or that there’s a limited-time deal just for you.

What You Can Do: Always stop and think before you respond to these messages. Real offers will give you enough time to decide. Contact the official company. Use their official contact information, not the details in the suspicious message.

Requests for Personal Information

Be cautious of businesses asking for your personal information.

What You Can Do: Never share personal information unless you are sure about who you’re giving it to and why they need it. If you must share sensitive information, use secure and encrypted ways.

Playing with Your Emotions

Scammers often try to mess with your feelings, like fear, greed, or kindness. They might pretend to be a relative in trouble. A familiar charity in desperate need. A government official threatening you with legal action.

What You Can Do: Don’t let your emotions control your actions. Take time to think about the situation logically. Fact check the story. If someone claims to be a relative in trouble contact them directly or another relative.

Dating Scam

You meet someone great online or a dating app. Their profile is impressive, and they’re quick to compliment you. Your relationship moves quickly, and you soon want to meet in person, but it never works out. Then, after some time, they ask you for money for a personal emergency.

What You Can Do: This is likely a “catfish” scam. The person you’ve begun to trust could turn out to be a scammer. A “catfisher” will set up a false dating profile to trick you. They want access to your personal information or money. Be very cautious before giving them money.

Social Media Messenger Scams

Scammers can hack your social media account. Then they send deceptive messages to your friends. These messages often contain phishing links with viruses. Be cautious of suspicious links in messages, especially if they ask you to log in after clicking.

What You Can Do: Verify statements or inquiries outside of social media. It is good practice to only have friends on social media who you know in real life.?

If you suspect a scam here are more steps you should take right away.

1. Alert your financial institutions.
2. Contact your local police or sheriff’s office to report the scam.
3. Contact your state attorney general.
4. Report the scam to the Federal Trade Commission (FTC)

Dealing with financial scams can be scary. It’s okay to feel unsure. The key is to stay informed and cautious. If you ever have doubts, reach out to someone you trust. Together, we can outsmart the scammers and protect our financial future.

??What I have learned

The number one rule of thieves is that nothing is too small to steal - Jimmy Breslin

??Guest Author

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