Learn How to Spot Scams

March 3rd, 2017 | Author:

[Y]ou hear about them on the news or on a Facebook post someone shared: money scams. It may be an IRS scam, investment scams or home improvement jobs that aren’t real. It’s all too easy for someone to be taken advantage of with high-tech hackers and fraudsters who have ways to learn private details that make them appear legitimate.

Even with all of the effort scam artists put into their scams, it’s still possible to recognize them before you get taken for your money.

If It’s too Good to be True

You know the saying – if it’s too good to be true, it probably is. This old adage is popular for one reason – it’s true. If someone offers you a good deal that sounds impossible, be wary. Yes, one company may offer a lower price than the competition, but it will only be by 10 or 20 percent. If someone comes along with 70 or 80 percent discount, be suspicious. Why would they reduce the price that much and miss out on all the profit when just a small decease would be enough to win customers over?

Get a Name

Most scams seem to have several layers to the company, making it difficult to find out who is really behind the organization. This happens so that victims can’t find the owner or be able to prove that the company doesn’t really exist. Before you do business with any organization, get details of the company like the name of the CEO and a physical address. Take the time to verify it with the Better Business Bureau.

Ask for References

Make sure you ask any company for names of references, people who have been satisfied with the work they received or the item they purchased. Get the names and numbers and contact these people yourself. Of course, the information may be fake, and you may end up talking to an actor rather than a real person, but it is one method of verifying the company.

Always go with your instinct. If you feel uncomfortable with a company, pass the deal by. Never make a decision immediately, but ask for time to think about it. A legitimate company will easily comply while a scam artist will want you to commit right now.

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