Maximized Living Scam Evasion: Top 10 ways to spot a scam

Maximized Living Scam Evasion looks at ways to identify when you are being scammed so you can evade getting duped.  When Maximized Living Scam Evasionresearched the issue we found that the Better Business Bureau has compiled a great list of ways to spot a scam.

In addition, Maximized Living Scam Evasion also learned how important it is to report a scam to the BBB or other organizations so that others can be warned and don’t become a victim as well.

10 Red Flags You Are Being Scammed

The following warnings could have been an indicator to the victim that they were about to be ripped off.

The High Pressure Sales Tactic

Con artists are desperate for you to buy into their scheme.  Scammers often act aggressively, dominate the conversation, speak loudly, express urgency, and refuse to let you disengage—hoping the longer they pressure you, the more distracted you will become and the more likely you will be to make a quick decision to their benefit.

Avoid high pressure sales situations at all costs. Learn how to identify when someone is using this tactic and ask them to stop, walk away or hang up the phone. If someone is at your door, ask them leave immediately and inform them that you will call the police if they do not.

Limited Opportunity Claims

Scam and frauds often play on our innate sense of greed and vanity. Many are designed so you feel like you are getting a great deal or are part of an exclusive “club.” Scammers play up the “one time only” or “limited time only” opportunity hoping to force you into making a quick decision without having time to do your research or think about its legitimacy. This approach is often part of a high-pressure sales tactic used to close the sale as quickly as possible.

Don’t let a “limited time” opportunity ever be the reason for spending money. Always take the time to research the opportunity and the person pitching it before spending your money.

The Unsolicited Contact Ploy

In this case the con artist will come to you first with the intent of pitching an opportunity to you or coaxing you into divulging personal or financial information. Unsolicited contact comes in the form of a fax, mailed letter, phone call or voice message, an email, a link on a website or via an online social networking site.

Always think twice when someone is offering you an opportunity that you did not personally seek out yourself.

When Personal Information is Required

Personal information such as your name, address, social security number, birthday, credit card numbers, personal identification numbers, banking information, or passwords are rarely ever legitimately required by a business or organization. In legitimate circumstances, protective security features and measures are almost always put in place to ensure that information doesn’t fall into the wrong hands. Scammers who already have some of your private information will often pose as banks and credit card service providers in hopes of getting as much information as possible to steal your identity and commit fraud.

Never give out any of your personal information to anyone, unless you initiate a conversation in which such information is required. Pay attention to what information you are giving out and ensure you are giving it to a trusted party.

Guarantees of High Returns with No Risk

Almost all forms of investment scams promises high returns, low or no risk opportunities and guarantees riches or success in order to dupe people into spending their money.

No investment opportunity is without risk. Carefully do your research. Understand the opportunity clearly, and make sure the person pitching it to you is trustworthy and reputable.

Vague or Confusing Details

Con artists like to keep the victim in the dark about details of the true situation to ensure they don’t realize they are being scammed until it is too late. Fraudsters often mumble through the details, dance around the specifics, use confusing jargon or claim they are the expert and can handle things for you.

Don’t get involved in an opportunity or give out personal information unless you completely understand all the details and they make rational sense.

It’s a Win, Win — No Fees, No Losses

Fraudsters promise a “win-win” situation in which you come out on top, with little effort, without paying any fees and without losing anything. Survey and prize scams are often based on this premise. You provide information of some sort and in return you win an amazing prize at no cost to you. In most of these scenarios your personal and financial information is being stolen.

When it sounds too good to be true it probably is. Riches do not come easily.

Money Transfer Required

A great deal of scams require checks be written and money to be wired or transferred to another party. Not all cases of money transfers are illegitimate. However, many frauds require some irregular system of money exchanged in an untraceable manner. Lotto, prize winning and employment scams will require that the victim cash a check or transfer money under their name to the con artist. In online purchasing scams, money often must be sent before a product will be shipped (and it usually never is).

Know that wire transfers are untraceable. If the opportunity is a scam you will lose your money and it will not be found. Avoid scenarios where you are asked to cash a check and return a partial payment for any reason.

Insufficient Contact Information

Fraudsters don’t want to be found. Remaining elusive is what allows them to continue. Most con artists will refuse to disclose their contact information and often give out fake or conflicting company names, addresses and phone numbers.

Avoid any situation in which you have reason to question the contact information given to you. When you are given information always check it out for yourself. Visit www.bbb.org to check out a company’s complaint history and reliability report.

Something Just Doesn’t Feel Right

This is the most important and most often overlooked red flag when it comes to frauds and scams. Most everyone who is victimized disregarded his or her gut feeling that something was off or wrong with the situation at some point in the process of being scammed.

 

Posted in Uncategorized | 8,850 Comments