Bank And Cheque Scams: How To Avoid Fraudsters Money 2.0 Conference Shares Safety Tips
Table Of Contents
What Are Bank And Cheque Scams?
How To Spot A Bank And Cheque Scam?
How To Protect Yourself From Bank Scams?
What Are Bank And Cheque Scams?
Cashier's cheques are sometimes used to refer to those backed by a bank, paid for with the bank's own money, and signed by a cashier or teller. Cashier's cheques are often seen as a safe and reliable way to pay for a significant transaction.
As filtered out from discussions at many finance conferences in 2022, criminals often use cons against financial institutions to get the personal and financial information of people who don't know what's happening.
In 2020, customers filed more than 2.1 million fraud claims with the Federal Trade Commission. Spam artists trick people into giving them essential information, like bank account numbers and passwords.
In a fake cheque scam, someone you don't know asks you to deposit a cheque and send some of the money to someone else. Most of the time, the cheque is for more than what you are owed. Scammers usually have a good reason ready for why they can't let you keep all of your money.
How To Spot A Bank And Cheque Scam?
Scammers pretend to hire people as "mystery shoppers" and tell them that their first job is to cheque out a store that sells gift cards, money orders, or a service like Western Union that transfers money. The shopper gets a cheque with instructions to put the money in their bank account and send it to someone else.
As discussed at insurance conferences of 2022, most cashier's cheque frauds involve someone giving you a cheque or money order that looks real and asking you to send them money or goods in exchange. Many finance experts at Money 2.0 Conference talked about this issue at length.
The cheque-cashing spam takes advantage of people's kindness and willingness to help. A person approaches you outside a bank or other financial institution and asks if you will cash a cheque for them.
Scammers might go to an online auction or classifieds site and offer to buy an item for sale, pay for a service in advance, or rent an apartment. Strangely, they might send you a cashier's cheque for a higher amount than what you were asking for. When you tell them about this, they will say they're sorry for the mistake and ask you to return the extra money as soon as possible.
There are many more red flags in bank and cheque spams that you can quickly learn about at different 2022’s insurance conferences, such as Money 2.0 Conference.
How to Protect Yourself From Bank Scams?
The following slide shares some knowledge that top finance experts revealed at the Money 2.0 Conference to understand how to protect yourself from banks and cheque scams.
Don't give out any information that could be used to find you. Spams can get into almost every part of your life if they have enough information about you. Your bank and other accounts will be hacked and your identity.
Check to see if the cheque that someone wrote is real. Contact the branch of the bank where they wrote the cheque. You should be able to get help from the financial institution to determine if the cheque you were given is accurate.
Throw away any offers that require you to pay to get the reward. If something is free, you shouldn't have to pay anything to get it.
Keep all of the papers that go with a cashier's cheque safe. If something goes wrong, having these papers on hand might be helpful.
Always try to avoid sales tactics that put a lot of pressure on you. Do not give in to sales pitches that put you under pressure to make a quick decision without first understanding the terms and
Thank You! Prepared By: Money 2.0 Conference https://www.money2conf.com/