Don’t be penny-wise and pound-foolish

Despite the widespread awareness, millions of people become prey of the crooks every year. Because if people are smart, crooks are smarter! They combine new technology with old tricks to trick people to send money or give out personal information. But then, with the following tips you can ensure that you stay a step head.

Know them to knock them. Scammers often pretend to be someone else. They present themselves as someone you would easily trust, like a government official, a family member, a charity, or a company you usually deal with. Don’t send money or give out personal information in response to an unexpected request. Remember, it can come as a text, a phone call, or an email.

Do your research. Just like you use google to find out everything, type a company or product name into your favourite search engine with key words like “review,” “complaint” or “scam.” Or search for a phrase that describes your situation, like “IRS call.” You can even search for phone numbers on apps like truecaller to see if other people have reported them as scams.

Don’t believe your caller ID. Technology helps us identify our callers. But it can also make it easy for scammers to fake caller ID information, so the name and number you see aren’t always real. If someone calls asking for money or personal information, hang up. If you think the caller might be telling the truth, call back to a number you know is genuine.

Don’t pay for mere dreams. Someone might ask you to pay in advance for things like debt relief, credit and loan offers, mortgage assistance, or a job. They might even say you’ve won a prize, but first you have to pay taxes or fees. If you do, they will probably take the money and disappear.

Consider how you pay. Credit cards have significant fraud protection built in, but some payment methods don’t. Wiring money through services like Western Union or MoneyGram is risky because it’s nearly impossible to get your money back. That’s also true for reloadable cards (like MoneyPak or Reloadit) and gift cards (like iTunes or Google Play). And that is why government offices and honest companies won’t require you to use these payment methods.

Take expert advise. Before you give up your money or personal information, talk to someone you trust. Con artists want you to make decisions in a hurry. They might even threaten you. Slow down, check out the story, do an online search, consult an expert — or just tell a friend.

Don’t deposit a check and wire money back. By law, banks must make funds from deposited checks available within days, but uncovering a fake check can take weeks. If a check you deposit turns out to be a fake, you’re responsible for repaying the bank.

Don’t attend robos. If you answer the phone and hear a recorded sales pitch, hang up and report it. These calls are illegal, and often the products are bogus. Don’t press 1 to speak to a person or to be taken off the list. That could lead to more calls.

Remember, there are no free lunches in this world. Be skeptical about free trial offers. Some companies use free trials to sign you up for products and then continue to bill you every month until you cancel. Before you agree to a free trial, research the company and read the cancellation policy. And always review your monthly statements for charges you don’t recognize.

If you spot a scam, report it to the concerned authorities. Your reports help the government and other law enforcement investigate scams and bring crooks to justice and save the hard-earned money of other innocent people.