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Quick Answers...Fraud/Scams |
What are some types of fraud and how can I avoid becoming a victim?
There are many ways to commit fraud, and con artists come up
with new ones every day. Commons types of fraud include mail
fraud, Internet fraud, telemarketing fraud, investment
swindles, illegal pyramid schemes and work-at-home schemes.
Regardless of the specific method that a con artist uses,
there are some tips that can help you avoid fraud:
- If it sounds too good to be true, it probably is! Do
not be pressured by salespeople into buying it NOW.
- Investigate before you invest. If you cannot afford
to lose the money you invest, do not do it.
- Avoid purchasing goods or services from people,
companies, or organizations you do not know (whether in
person, by phone, or by mail).
- Be skeptical about unsolicited sales calls.
- Ask the caller to send information about the company
and verify it.
- Do not pay for something that is supposedly "free."
- Do not give calling card, credit card, or bank
account numbers to strangers by telephone or mail unless
you initiated the order for goods or services.
- Guard you social security number. Avoid using it as
your driver's license number.
- If you use a cellular phone, request a detailed
billing of calls from your cellular carrier and use a
Personal Identification Number (PIN).
- Before contributing to charities you are unfamiliar
with, check them out with your state charity regulator,
such as the Attorney General's office.
- Ask for information about a company, price
information, and written estimates from door-to-door
salespeople before doing business with them.
- A contract worth signing can wait until you've taken
the time to understand it.
- Always ask for information and clarification in
writing.
Hanging up is often the best action when you receive a call offering a fabulous deal over the telephone.
- Do not invite a door-to-door salesperson into your
home if you do not want to hear a sales pitch.
- Con artists look like you and me. Even if someone
sounds like they are your friend, take the time to
investigate an offer carefully.
(Taken from Hang Up on Fraud, National Institute for
Consumer Education as cited in Building Strong Families,
University of Missouri-Outreach and Extension)
Brenda Procter, M.S., State Specialist &
Instructor
Personal Financial Planning, University of
Missouri-Extension
Last update: Saturday, April 22, 2006
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