We all love a bargain – but is that offer going to result in you losing your money? Here are some daily scams and some tips from Tom Mullen, AIB’s Financial Crime Systems & Intelligence team, on how to avoid being out of pocket.
Investment Scams
Investment scams are a huge problem. They are slick and can catch anyone out. If something seems even a little too good to be true it probably is. So always check that an investment firm is regulated – and even if it is, check that the person you’re talking to really works there and their contact details are genuine. Always look for independent financial advice and don’t be pressured into making urgent payments.
Shopping Scams
Naturally we all want to save money but be aware when buying big brands at low prices. Always check the seller is reputable and ask to see the item in person before parting with any money. If you cannot view the item, do some investigation to ensure the company exists and the website has not been cloned. Do not send any money until you are certain the item or service will be delivered.
Holiday Scams
Sometimes holiday deals are just too good to be true. Criminals can set up fake websites and ads offering that dream holiday at a discounted price. Always do your research to ensure the flight and accommodation exist. Only choose a holiday from reputable airlines and travel agents.
Loan Scams
Loan scams are becoming increasingly common with more people turning to quick-fix loans to cover unexpected costs or emergency expenses. The fraudulent lenders offer short term, high interest loans and ask for a payment upfront. They often insist on using non-traditional payment methods like bank transfers or prepaid cards. If you want to apply for a loan – always use a regulated company.
Romance Scams
You find your true love online, you’re showered with romantic messages and promises to visit. Suddenly your new romance needs money. Stop. Don’t send money to people you have only met online, think carefully about who you can trust. Question their reasons for payment; is it a sudden illness or are they a soldier trying to buy their way out of their contract?
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