How to avoid financial scam With the way, the need to have money is on the rise, it is little wonder why people fall into financial scams.
With new technological innovations come new ways people can be scammed out of their hard-earned money.
It is easier than ever for scammers to get financial data from unsuspecting individuals.
How to avoid financial scam is a timely topic we need to be talking about at the moment.
Most of these scam artists can even pose as bank workers or your network service providers to steal your funds.
For you to protect yourselves from these unscrupulous elements in society is why we have written this article.
How to avoid a financial scam is very important. For you not to end up a victim and start running helter-skelter to get back your money.
How to avoid financial scam
There are things you as an individual need to do to protect yourselves from these crafty fraudsters. They include:
1. Never send money to a stranger:
This is their most easier method to perpetrate their crime. You should be wary of who you send money to.
READ ALSO: How To Make Money On TikTok
This is the oldest trick in the book, but it is unfortunate that some people still fall for it. This particular method of scam first came up in the 1980s and Americans have lost millions of dollars to it.
It can come in many ways, for instance, someone will chat you up telling you he or she wants to marry you. The next thing is they are in trouble and will be needing you to send some money to them.
Others are for them to have access to their inheritance, they will need a specific amount of money to sort it out. If you end up sending money to these people they will end up blocking. Note that funds send this way are practically impossible to retract back.
2. Never divulge sensitive financial information:
On no grounds should be careless with your sensitive financial information.
Never give your financial information to someone you do not know or trusts.
This kind of scam is called phishing. They may send you an email, text, or a phone call claiming to be from financial institutions.
They will try to make you feel your account has been compromised. And are willing to help you resolve it if only you give them your details.
Note: no financial institutions will call you requesting your financial details. Go directly to their office or the banks if you need to do anything. What these criminals look for most times are your credit card details, social security number, or other financial information.
3. Never click on hyperlinks in emails that you find suspicious:
If you get an email and are asked to clock on it requesting for your financial details run.
It is a form of scam known as pharming, even if these emails come from your financial institutions disregard them. Have such emails deleted from your mailbox.
4. Make use of passwords that are difficult to hack:
Use passwords that are 8 characters long at the very least, let it be a combination of letters and special characters.
Scammers find it easy to hack easy passwords, do not use easy passwords like your date of birth or your name.
5. Install antivirus and spyware protection:
Protect your sensitive information stored on your computer by installing antivirus and spyware protection. always update the software.
6. Shop only with familiar websites:
When it comes to shopping online, do so with only websites that are popular and familiar to you.
7. Visit only safe website:
Check the security of a website before inputting your financial information.
Check privacy rules of websites. An encrypted site has the symbol of a padlock to the left of the web address. This protects your information from hackers.
8. Avoid get rich quick scheme:
MMM and the rest of the poncho schemes have defrauded people of millions, and billions. Do not get involved with any get-rich-quick scheme. Their motto is to bring 10,000 and get 20,000 in two hours, do not fall for such a hoax.
In conclusion, keep yourself from falling into the hands of scammers. And it is your sole responsibility to protect yourself.