Let's talk about some sneaky scams that are targeting people just like you. The Department of Insurance, Securities and Banking (DISB) has compiled a list of common scams reported by consumers. Knowing about these scams can help you stay safe and protect your hard-earned money.
1. Affinity Fraud
The Scam: A trusted community member, like a pastor, asks for money for a project (e.g., a new church) but pockets the cash instead.
Tip: Always verify such requests. Ask to see plans and approvals from local authorities before investing.
2. Bank ATM Skimmers
The Scam: Scammers place devices on ATMs to steal your card information. You may only realize it when charges appear from places you’ve never been.
Tip: Check ATMs for any signs of tampering, like loose parts or uneven card slots. Regularly monitor your bank statements for unauthorized transactions.
3. Advance Fee Scam
The Scam: You’re contacted by a fake government agency asking for a fee to recover lost money or stocks.
Tip: Legitimate agencies will never ask for money upfront. Verify the agency’s information independently.
4. Investment Scam Via Real Estate
The Scam: A friend introduces you to someone offering a lucrative real estate investment. You invest, but never see any returns.
Tip: Always ask for references and have a professional review any investment contracts before you sign.
5. Celebrity-Romance Scam
The Scam: You think you’re in a relationship with a celebrity online, but they keep asking for money.
Tip: If it seems too good to be true, it probably is. Verify any claims through official channels and consult with friends or family.
6. Loan Re-modification Scam
The Scam: A company offers to help with loan modification, asking you to stop payments to your lender and pay them instead.
Tip: Never stop payments to your original lender. Verify any company’s legitimacy through your lender or a trusted source.
7. Insurance Adjuster Scam
The Scam: An adjuster offers to handle your insurance claim for a fee, but then takes the money and runs.
Tip: Always verify the adjuster’s credentials with your insurance company. Never give someone power of attorney without thorough checks.
8. Affinity Scam by Licensed Individual
The Scam: A trusted financial advisor befriends you and then manipulates you into bad investments or stealing your money.
Tip: Regularly review your financial statements and consult with family or an independent advisor about any suspicious activity.
9. Elder Affinity Scam
The Scam: Someone befriends an elderly person, pretending to care for them, and then takes their money.
Tip: Always have a trusted family member or friend involved in major financial decisions.
10. Ghost Broker Fraud
The Scam: A fake insurance broker sells you a policy, takes your money, and cancels the policy without your knowledge.
Tip: Verify any insurance policy directly with the insurance company. Be wary of deals that seem too good to be true.
Final Thoughts
Scammers are always finding new ways to trick people. By staying informed and cautious, you can protect yourself and your loved ones from falling victim to these deceitful schemes.
Stay safe, Scamstallers! To read more, find article here