The Do’s and Don’ts of Avoiding Potential Scammers

Recognizing Scammers

During the coronavirus pandemic scammers are more frequently trying to take advantage of individuals through misinformation and scare tactics. They might get in touch by phone, email, postal mail, text, or social media. It’s easy to take basic steps to protect your money and your identity by not sharing personal information like your bank account number, Social Security number, or date of birth. However, it is also important to be able to recognize some of the most common ways scammers may try to take advantage of you. Below are compiled some of the most frequently encountered scams that victimize individuals. Take the basic steps listed below to avoid being taken advantage of by scammers and their tactics. If you feel you have already been victimized by a scam, such as the ones listed below, contact Berkshire and Burmeister today for further legal assistance.

Potential Telephone Scams

Telephone scammers try to steal your money or personal information. Scams may come through phone calls from real people, robocalls, or text messages. Callers often make false promises, such as opportunities to buy products, invest your money, or receive free product trials. They may also offer you money through free grants and lotteries. Some scammers may call with threats of jail or lawsuits if you don’t pay them. Remember these tips to avoid being a victim of a telephone scam.

Do:

• Register your phone number with the National Do Not Call Registry. You may register online or by calling 1-888-382-1222. If you still receive telemarketing calls after registering, there’s a good chance that the calls are scams.
• Be wary of callers claiming that you’ve won a prize or vacation package.
• Hang up on suspicious phone calls.

Don’t:

• Don’t give in to pressure to take immediate action.
• Don’t provide your credit card number, bank account information, or other personal information to a caller.
• Don’t send money if a caller tells you to wire money or pay with a prepaid debit card.

Potential Banking Scams:

Banking scams involve attempts to access your bank account. Remember these basic tips to avoid being a victim of a banking scam.

Do:

• Be suspicious if you are told to wire a portion of funds from a check you received back to a company.
• Be wary of lotteries or free trials that ask for your bank account number.
• Verify the authenticity of a cashier’s check with the bank that it is drawn on before depositing it.
• When verifying a check or the issuer, use contact information on a bank’s website.

Don’t:

• Don’t trust the appearance of checks or money orders. Scammers can make them look legitimate and official.
• Don’t deposit checks or money orders from strangers or companies you don’t have a relationship with.
• Don’t wire money to people or companies you don’t know.
• Don’t give your bank account number to someone who calls you, even for verification purposes.
• Don’t click on links in an email to verify your bank account.
• Don’t accept a check that includes an overpayment.

Potential Investment Scams:

Investment scams promise high returns, without allegedly little or no financial risk to you. Remember these basic tips to avoid being a victim of an investment scam.

Do:

• Research investment opportunities and investment professionals. Your State Securities Regulator and Financial Industry Authority offer further information.
• Learn where the investment and the investment professional have registered. It may be in your state or with other regulators.
• Get all the details of an investment in writing, but still do your own research.
• Ask questions about costs, timing, risks, and other issues.

Don’t:

• Don’t give in to pressure to invest immediately.
• Don’t be influenced by promises that seem too good to be true. These promises may include “guaranteed earnings” or “risk-free” investments.
• Don’t invest just because the investment professional seems nice, trustworthy, or has professional titles.

If you feel you have been victimized by a scam please contact Berkshire and Burmeister today for further legal assistance.