Red Flag #6: Vague or Confusing Details
A classic tool of con artists is to keep the victim in the dark about the details of the true situation, in order to ensure they never fully understand that they are being scammed until it is too late. Unscrupulous fraudsters will often mumble through the details, dance around the specifics, talk in circles, use confusing jargon or claim they are the expert and can handle things for you.
Protect Yourself
Don’t ever get involved in an opportunity or give your personal information unless you totally understand all the details of the situation and they make rational sense.
Red Flag #7: Promises of a Win, Win Situation (No Fees, No Losses).
Similar to the red flag of guaranteed return and no risk, is the promise of a “win-win” situation in which you will come out on top, with little effort, without having to pay any fees and without losing anything. Prize and survey scams are often based on this premise. You provide the scam artist with information of some sort and in return you will win an amazing prize at no cost to you. In most scenarios your personal and financial information is being stolen.
Protect Yourself
When it sounds too good to be true it usually is. Riches do not come easily. No one trying to make money, legitimately or not, is going to offer you an opportunity in which money or information of some sort does not have to be transferred between parties and in which the person pitching the idea isn’t going to benefit in some way.
Join me next week for Red Flag #8: Money Transfers Required.