The world is, sadly, full of people who want to scam us. They want to take money from us or our businesses for doing nothing at all. It’s not always theft exactly, but it is always just as bad – you might be agreeing to pay them, but they are taking money on false pretenses. It can be hard to know you’re being scammed when you’re caught up in the middle of things, but knowing some of the signs is an excellent way to stop the scam before it goes too far. Here are some signs to look out for.
No Previous Contact
If a company that you have never had anything to do with before gets in touch with you via phone, email, letter, text, or even face to face and asks you for money, then it could be that you are about to be scammed. It’s a good idea to find out all you can about the company before you part with any money, particularly if what they are selling seems too good to be true. Look at their website, Google them, find out more about their previous customers, even phone the head office for information. If you’re at all unsure about them, then step away; it’s just not worth the potential harm they could cause, no matter what they might be selling.
You’re Turned Down For Credit
If you know you have a good credit record but you are turned down when you apply for a loan or credit card after checking out the best rates at Compare Credit, then you might be being scammed. This won’t be a scam by the lender, but it could be that someone else has stolen your identity and is causing your credit to be damaged. If you are rejected for credit and don’t think there is a good reason, check your credit score; you might be surprised to find that it is lower than you think because someone is making credit applications in your name. If you spot something out of the ordinary, you need to contact your lenders and credit report agencies to put it right. This can, however, take many years.
You Haven’t Been Given Time
If you feel you are being rushed into making a decision involving you making a financial donation or giving away sensitive information, you might be being scammed. A legitimate company won’t rush you – they might give you a deadline, but it will be a reasonable one that you agree to. A fake company will want the information or money immediately, and if you are given a deadline, it will be within a day or even less, which is not enough time to come to a good financial decision.
You’re Being Asked For Passwords
If any company or individual asks you for your banking passwords or PIN (personal identification number), you are very likely being scammed. Banks will never ask for this information – they will have security questions in place, but it will be about your mother’s maiden name or the city you were born in. This kind of sensitive information is something that only you should ever know, and you shouldn’t have to tell anyone what it is. If you are being asked, then it is time to stop the conversation immediately.