The most common scams share some key characteristics. When it comes to protecting yourself from scams, it’s important to be vigilant around providing personal information or making payments to an account.
Characteristics of a scam can often include:
- You’re contacted out of the blue
- There’s a sense of urgency to act quickly
- It sounds too good to be true.
If you’re being offered a product or investment at a much lower price than normal or promised a return much larger than what you might get from the bank, it could be a scam. If it seems too good to be true, it probably is.
Scammers rely on building trust with their victims before exploiting this relationship for financial gain. Ask yourself if you really know the person you’re talking to.