Studies have shown that if we know what to look for, we are more likely to recognize the red flags of a scam or fraud. Contact us immediately if you experience identity theft, a bank or custodial account login compromise, or one or more of these red flags of a scam:
1. Scammers pretend to be from an organization that you know.
2. Scammers pretend that there is a problem you need to address immediately, money that you are not expecting but need to claim, or a prize that you do not remember applying for.
3. Scammers will say that you need to act IMMEDIATELY. If you do not, they will often say that there will be immediate legal or other detrimental ramifications.
4. Scammers will say that you need to pay them in a particular, often unusual, way. Such as, pay with gift cards, wire money, deposit a check and then send them some of the funds, using a payment app like PayPal, or using cryptocurrency.
Recognizing these common red flags will help you avoid becoming a victim. If you suspect you, or someone you love, may be a victim of a scam, contact your XML Wealth Advisor immediately.
Visit the FTC How To Avoid A Scam webpage
Download the How To Avoid A Scam PDF brochure
This communication is for informational purposes only. No content or reference to a third-party article is intended to be a recommendation for the sale or investment in any product, strategy or service nor should it be perceived as individual advice. This commentary does not necessarily reflect the opinions of all employees or XML Financial Group and its affiliates (“XML”). XML is not responsible for any actions taken related to this information.