How to spot a scam

It’s not so easy to spot a scam.  These fraudsters are extremely clever and have perfected their means of scamming their victims.

There are a few simple questions one can ask themselves to verify if something is a scam.

Brexit Scam Warning

New on the scene are Brexit Scams where the fraudster will use Brexit as a starting point to steal our money

Brexit scams are ongoing… be careful.

Were you contacted from out of nowhere?

Unsolicited calls is always a red flag!

This noted, you should be aware that sometimes legitimate companies do call their customers from out of the blue.

When being called make sure to verify with whom you are speaking.  You can always ask for their employee ID.

Verify that you are their customer, ask them for details such as your name, address or even your bank details that they should have on file.

If you are still unsure ask them for their number to call them back.  Google the number and see if is connected to the company they claim they are from.

If you are looking into making an investment you will ALWAYS be the person initiating the contact.

Watch out for Trading (CFDs, Forex, Crypto) scams

A trading scam is probably the most wide used and perfected scam in the past decade.  This scam tricks the victim into believe they are depositing onto a real trading platform and have the ability to trade real financial instruments.  The website is nothing more than a manipulated demo trading account and every time the money is “deposited” this money is stolen by the scammer and is never returned.

The scam victim believes they are making money and they keep depositing more and more money.

The Scammers will ask for some bogus tax payment when the victim tries to withdraw the funds.

Watch out for HMRC tax scams

Fraudsters are becoming more brazing in posing as representatives for HMRC.  They may contact their targeted victims via calls, SMS or email.

If you are contacted by someone randomly claiming to be from HMRC and they are threatening jail time or fines if you don’t pay then hang-up the phone and double check with HMRC.

If its too good to be true…

Basic scam tactics is to promote a product or service that promises the world?

“Are you interested in buying the Brooklyn Bridge?”

“Our high-tech trading bots guarantee a 300% RIO”

Anything that sounds to good to be true, almost always is… Run for the hills.

Can I just take some personal data?

If you cannot validate or verify someone over the phone, do not share your personal date

Telephonic scammers will try to extract personal data from you in order to steal your identity so they can take your money.

the most up to date research shows that 62% of people in the UK have been targeted online within the past 12 months

Hi Pressure

Never make a pressurized and hasty decision when it comes to transferring money

Fraudsters will use pressure to get you to send them your money.  With a credit card you are more protected but with a bank transfer the money is as good as gone as soon as it is sent.

Crypto currency IE Bitcoin, XRP, Ether etc. are not ways that any legitimate company takes payment.

Ambiguous Contact Details

Ambiguous contact information can come in the form of PO box, premium “09” phone number or mobile number.  A legitimate company will never contact you from a mobile number.

Shhhhh… Keep this to yourself

If someone advises you to keep this deal of the century to yourself, be weary.  Always do plenty of research and speak to friends and family about your the situation.

A simple google search can save a lot of pain and heart-ache.  In the 21st century scams are usually publicized online within a very short amount of time.

Post-scam Support

Being the victim of a scam can take a huge toll on your emotional well-being and mental health. It’s often helpful to speak to someone about what you’re going through.

Whether it was a one-time scam or a long entangles fiasco that dragged on for months, you deserve to take back control over your money and your life.

Wealth Recovery Expert has the resources to best help you recover your lost funds through trading scams. Nothing feels better than changing from the victim to the victor!

Book a free consultation here