Christopher Dahm: Financial Scams And How To Avoid Them

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You probably know that you shouldn't leave your wallet or your purse unguarded in a crowded room. You know that someone might riffle through your information, steal your money and walk away with your credit cards. You know that keeping these things secure is important, and you pay attention. But you might be surprised how often you expose yourself to theft, fraud and scams in other areas of your life.

For example, if you use your credit card at all stores and you hardly ever check your balance, you might be paying for other people's items and you might never know it. In these scams, people put small readers on credit card machines. The readers record the account numbers and send them back to a scammer. That scammer can start to use your card. The only way you'll know it's happening is if you keep close tabs on your statement. If you don't check your statement, it's akin to leaving your purse open on the train. You're inviting scams.

If your bank or your credit card company calls you to verify information and you willingly provide it, you're also leaving yourself open to scams. Many frauds claim to be from your bank and they call and ask for account numbers and Social Security Numbers. These people aren't from your bank, of course, but they do want access to your account and your money. Tell the caller you're hanging up and then call your bank using the number on your card. You'll report the scam, and you'll make sure you're not defrauded yourself.

Your financial information should be protected no matter where you are. Don't hand out the number, and don't provide information to people you don't know. Similarly, don't give money to someone on the promise that something else will happen. This is the second sort of common financial scam.

For example, you might open your door to find someone offering to clean your gutters for a fee. The person demands the fee up front before the work can begin. Once you pay the fee, the person disappears and the work is never done. There are many, many variants of this scam. In general, it's best to do business with reputable companies you know and can verify. You might save yourself from scams in this way.

About the Author:
About the Author: Christopher Dahm lives in Fort Lauderdale, Florida. He's a successful financial consultant with a long list of happy clients. Christopher Dahm is also working toward a doctoral degree in business and finance.



Article Originally Published On: http://www.articlesnatch.com


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