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Spotting scams is easy if you know how - tricksters are continually coming up with new ways to weasel money out of the unwary but they all have common traits. Here are some tips on sifting through those too good to be true claims of riches, wonder products and unbeatable services that arrive through the mail, online and by phone:

Overnight success takes years of work
Winning the lottery is the only way anyone becomes an instant millionaire. Making a lot of money requires hard work and dedication. Think about the offer - if you can make so much money with the scammer’s get-rich-quick scheme, why are they still working?

Invitation to a secret offer
Yeah right. The only reason the crook wants you to keep the deal secret is so he has time to get away with your cash before the police grab him. Consider what the fraudster is saying - if he can make more money from telling more people, why is he keeping the deal a secret?

Trusting a fraudster with upfront money
If you hand over this relatively small amount, the fraudster can release a huge amount of money and send you riches beyond your wildest dreams. The fraudster is playing on two emotions - your greed for cash and the human condition that says if someone asks ‘Do you trust me?’ , most people won’t question the deceit because it makes them look bad. Most people won’t give a beggar 50p, but will willingly hand over hundreds of pounds to a fraudster when they should know better.

Don’t let a fraudster hustle you
Just because someone says jump does not mean you should. Phrases like act now, limited offer, while stocks last and first 100 callers only are aimed at pressurising victims to pay out. Any investor will tell you deals are like buses - another one will always come along so don’t jump in for the sake of it. Take your time and make your inquiries before agreeing to sign any contract or hand over any money. Remember the person controlling the money controls the deal - and the scammer is after your cash, so you are in command.

Lastly, if you are dealing with a scammer and you suspect the offer stinks - explain that you are checking the scheme out with the Office of Fair Trading or other regulator and ask for some business information to run by them, like who owns the company and where the registered office is located.

If it’s a scam, you won’t see the fraudster for dust.


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