Learn the Facts and Myths of Scamming
You probably think you know about scams and how to avoid them. The problem is that scammers continue to change their methods so they can get to your money and your personal information before you realize it. Believing the five myths listed below could result in you becoming another statistic.
#1: Scams are easy to identify
You probably get emails all the time where an unknown sender promises to deposit large sums of money into your bank account as soon as you provide the needed information. Don’t be fooled into thinking that all scams are this obvious. Scammers are modern cons who understand how you think. Never assume you know who a sender is. It’s too easy for a smart, creative criminal to impersonate someone else.
#2: I am too smart to become a victim
Even if you graduated top of your class in college, don’t assume you are smarter than the person trying to scam you. Every year, thousands of very smart people fall victim to scams!
#3: Scammers only steal a lot of money
Stealing smaller amounts of money from many people often helps keep scammers stay under the radar longer. You don’t need a fat bank account to make you vulnerable to scammers. Small dollars can quickly add up to larger sums for a scammer, and many people won’t report a small theft compared to a large one.
#4: There isn’t much you can do to protect yourself
History has proven that when people already know about a particular scam, they are far more likely to avoid becoming victims. The best way to keep from becoming a target of a scam is to stay up-to-date on current scams and take the advised precautions. Scammers constantly change their techniques in an effort to fool more people who are alert to their previous scams. Taking the time to keep up with the newest scam techniques will give you a big advantage when they try to make you a target.
#5: Reporting a scam won’t help
You may think reporting a scam doesn’t matter because you don’t see the results firsthand. In reality, reporting a scam helps you and others protect themselves. This is how people learn of current scams so they don’t become victims.
The best defense against scammers is taking a pro-active approach. Learn the facts and myths of scamming, and take the necessary steps to protect your money and data against these would-be criminals.
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This information is provided for general consumer educational purposes only and is not intended to provide legal, tax or investment advice.