3 ways to recognizing scams and ensuring your protection
According to a survey conducted in the US one out of ten adults have been scammed before.
It occurs more frequently than one might imagine, and no individual is immune to these tactics. Anyone can fall victim, regardless of their perceived intelligence. At some juncture in our lives, we all lower our guard and become susceptible to these deceptive ploys.
Nevertheless, by analyzing these patterns, certain trends commonly emerge in recognizing fraudulent behavior.
Here are some of the key patterns to look out for when determining if something is worth your money and time.
It’s too good to be true
When something is too good to be true then it’s too good to be true period. When you chance upon a page that asks you to spin a board for iPhone 15, you should ask yourself what you have done to deserve such a reward for just spinning a board on your screen.
Nothing good comes easy or cheap so take extra caution when you chance upon such schemes they can be very enticing.
Huge returns or interest rate
If you’re trying to invest and you’re told that you can make 50% interest on your GH$1000 deposit in just a month, you have to take to your heels. The money-making process is tough and no one genuinely making money will give it away that freely unless they are expecting something in return.
So if the interest rate is that high you should start asking questions because the chances of getting scammed out of your money are very high.
Lack of transparency
They’re asking you to invest your money for huge returns but haven’t been able to make it clear what the money is going to be used for. It’s your money you deserve to know exactly how it’s going to be used, you also deserve to know how it’s going to yield interest and how you’re going to be compensated if a loss is incurred.
At any point, if you feel that there’s no clarity in the explanations you need to start advising yourself.
Remain vigilant against these schemes, even if they appear to originate from a reliable source. Keep in mind that just as anyone can fall victim to scams, anyone can also perpetrate them.