Scams can destroy your life. Your entire savings can be wiped out within the blink of an eye. Anyone can get scammed, no matter how educated and informed you are. You always have to be extra careful, especially now, as things are digital. The following are some things you can do to protect yourself from scams:
Safeguard Personal Information
Be careful with all personal documents, including your bank statements and chequebooks, driver’s license, and national identity card. Refuse to provide personal or financial information to others unless there is a legitimate reason why they should have it. The only time you should give anyone your credit card number is when you want to buy something with it. Swindlers root through the garbage in search of such information. Instead of simply throwing out paperwork that contains personal data, you are wise to burn or shred it.
Be Alert
Swindlers know how to win the confidence of others. They are skilled at making their victims trust them. You have to be suspicious of everyone you meet. This does not mean that you should mistrust everyone, but a healthy degree of suspicion is important in defending yourself from fraud. You have good reason to be suspicious if someone calls you claiming to be from a bank or a company with whom you have an account and asks for information that they should already have. If someone calls to sell you something that you do not want, there is no reason for you to engage in an unwanted conversation with a stranger who may be trying to defraud you. Whenever a person calls and starts telling stories, it’s most likely a scam.
Keep your Mobile Devices and Computers Secure
Always use password protection and don’t share access with others. Update security software and back up content. Choose passwords that would be difficult for others to guess and update them regularly. A strong password should include a mix of upper and lower-case letters, numbers and symbols. Don’t use the same password for every account or profile. Nowadays people use their date of birth as their password. That’s so easy to guess. It’s not safe. Also, do your very best to be security conscious with your internet use.
Do Business with only reputable people
Deal only with reputable businesses and people. There are many legitimate companies with whom you can safely do business over the phone or on the Internet. Also, ask for information about the investment, and read it carefully to make sure that it is legitimate. Do not be rushed or pressured into making a quick decision.
Put Business in Writing
Not all fraud starts out as a fraud. Additionally, an honest business can go sour. An agreement should specify in writing what the duties and responsibilities of each person will be should the business fail.
Beware of Pyramid Schemes
A pyramid scheme is a fraudulent and unsustainable investment pitch that relies on promising unrealistic returns from imaginary investments. The early investors actually get paid those big returns, which leads them to recommend the scheme to others. Eventually, no new investors can be found and the pyramid collapses. Some pyramid schemes disguise themselves as multilevel marketing. They might also make extraordinary claims of enormous earning potential. They try to persuade people that recruiting others is where the real money lies, pressure people to get involved without learning more about the company, and claim that an opportunity will be lost unless people get in immediately.
Bottom Line:
You can only be scammed if you give out sensitive information and if you fall for the wrong information. Therefore, you need to be careful about the source of information you consume, and what you give out. Be careful about what you read, and whom you listen to. Furthermore, run away from anything that seems too good to be true.
