Scam Awareness

Investment Fraud

Be careful of investment opportunities that offer abnormally high returns.

Protect yourself from investment fraud:  

  • Never commit to anything at high-pressure meetings or seminars. High-pressure sales techniques are used by scammers to try and force you into making quick and uneducated decisions.
  • Don’t make any decisions without doing your homework. Research the offer being made and seek independent advice before making a decision.
  • Also do background research on the person or company that is providing you with the investment opportunity.
  • Remember - If it sounds too good to be true, it usually is.

Overpayment Scams

If you or your business is selling products Or services online, you might be targeted by an overpayment scam.

How the scam works: A potential buyer sends you payment that is more than the agreed upon amount. The buyer will then ask you to refund the excess amount by money transfer. This buyer is likely a scammer and is hoping that you will transfer the refund before you discover that their cheque or money order was counterfeit. You will lose the transferred money as well as the item if you have already sent it.

Romance Scams

Some illegitimate dating websites make you pay for each email or message. Scammers will send vague-sounding emails filled with love and desire to keep you writing back. Scammers will try to build a relationship with you and exploit your compassionate side. They ask for money to help a sick family member, deal with a personal emergency, or to pay for travel expenses to visit you - and then they disappear.

Protect yourself from the romance scam:

  • Check website addresses carefully. Scammers often set-up fake websites with similar addresses to legitimate sites.
  • Never send money, or give credit card or online account details to anyone you don’t know and trust.
  • Ask yourself, “Would someone I have never met really declare their love for me after only a few letters or emails?”
  • Always talk to a trusted loved one before you send money to people you have met online.

 

Lottery Scam

You cannot win money or a prize in a lottery unless you have entered it yourself, or someone else has entered it on your behalf. Many lottery scams try to trick you into sending large amounts of money to claim fake prizes.

Protect yourself from the lottery scam:

  • Legitimate lotteries do not require you to pay a fee or tax to collect your winnings.
  • Never send money or provide banking details to anybody you don’t know and trust. Some of these scammers will try to collect personal information from you.
  • Don’t be fooled by claims that the offer is legal or has government approval - many scammers will tell you this.
  • Examine all of the terms and conditions of any offer very carefully. Claims of free or very cheap offers often have hidden costs.

 

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