Beware of Scams

Beware of Scams

Wherever there is an opportunity to make money, unscrupulous people are not far behind; they often come up with brilliant schemes to dupe people of their hard-earned money. Hence it is the responsibility of individuals to safeguard their interests. Take the example of the online trading platform which provides an opportunity for the layman to make a foray into the world of trading. This field is rife with scams and innocent and ignorant people are often the victims. Hence, you must do your research and identify genuine platforms like the Q Profit System to dabble in online trading. You can Read more about QProfit System and then decide for yourself if it is a scam or not.

 

The latest scam to hit the people is the phone scam. Despite people becoming more cautious with whose phone calls they attend, they are falling prey to this scam. Close to $9 billion was duped by phone scams in 2017 alone.

 

Why are phone scams on the rise?

People ignore emails that are not from known address and appear fishy; hence email scams have reduced in number but the same is not the case with phone scams. With the amount of technology available currently it is easy to spoof numbers and scammers are doing just that. As a result, even those who do not pick up numbers that they don’t recognize are not safe as the caller ID can be spoofed and made to look familiar.

 

Who is at risk?

It is generally the elderly and the less technically savvy people still rely on their phones for all their communication. So, once they attend a call, the scammers can smooth talk and convince them that they are from the IRS and they have some unpaid tax dues or claim to be next to an accident victim who is a friend or relative. The ideas to cheat are mind-boggling and often they sound so genuine that people fall prey without too much trouble. They often create a sense of urgency and eek out valuable financial information.

 

How can you safeguard your finances?

Of course, the best thing is to not attend any phone calls but it is not practical and you might miss out on the genuine calls of distress. Ideally, if you suspect anything always tell the caller that you will call back before divulging any information. There are several apps that filter scam calls, you can install those and reduce the menace to an extent but to stay really safe you must be alert and not give your credit card details or bank account numbers to anyone under any circumstances.