Archive for October, 2013

Beware the Scam

A short while ago I was checking over my Facebook feed. When I {  liked }  a friend’s post she began a chat with me. Apparently she had received a large sum of money from a philanthropic institution. Congratulations I responded, to which she said did I get mine yet?  I too had won a large sum of money she said, she had seen my name on the couriers delivery list when her funds were delivered.  Our conversation continued but something about the phrasing and content made me feel like this was not my good friend. Sure enough a request for some personal information appeared and I quickly ended the conversation. Later I learned her page had been hacked.

Scams come in many forms and on any platform email, face book, telephone or regular mail. The Federal Government Competition agency has a few tips and tricks to avoid being scammed.

Here are a few to help you become more aware and possibly avoid a scam.

 

1 Always get independent advice if an offer involves money, personal information, time or commitment.  Especially if they include deadlines or short time lines to decide.

2 There are no guaranteed get-rich  quick schemes.  If it sounds too good to be true   the only one getting rich is the scammer.

3 Don’t agree to offers or deals  right away, If you think you’ve spotted a great opportunity , insist on time and independent advice before making a decision.

4 Don’t hand over money or personal information , or sign anything until you’ve done  your homework and checked the credentials of the company or person that you are dealing with.

5 Don’t rely on glowing testimonials: find solid evidence of a company’s or person’s success i.e. do they belong to a professional institution or have a designation or license you can check .

6 Log directly onto a website that you are interested in  rather than clicking on links provided.

7Never send money, give credit card , online account details or passwords to anyone you don’t know or trust .

8 If you spot a scam or have been scammed get help. Contact the Canadian Anti Fraud Center , the Competition  Bureau or your local police for assistance.

For more tips and information , visit the Competiton Bureau website   www.competitionbureau.gc.ca and search for  The Little Black Book of Scams

Information provided by September issue  FBC Member Advisor 

 

This article is for informational purposes only, please consult with a tax or financial professional before acting on any of the advice in the above article. Heather Lang, Cedarlane Financial and FundEX  Investments Inc are not responsible for any actions beyond this information piece