From an early age we are taught to focus on personal safety, learning to protect ourselves from danger whenever possible. In time, we learn that personal safety includes many areas of our lives, and should also include maintaining and protecting our financial wellness. One way that we can maintain our financial wellness is to be vigilant about protecting ourselves against fraudulent behavior. A scam is a fraudulent behavior that aims to trick unsuspecting people into giving up personal information or sending money under false pretenses. According to the Office of the Ohio Attorney General, scams come in many shapes and sizes. And whether we’re checking our email or answering the phone, it is important to be aware that we could be the target of fraudulent behavior.
What are the signs of a scam? The Office of the Ohio Attorney General has an excellent website that focuses on many consumer protection issues, including scam prevention. One of the most effective ways to prevent a scam is to be aware of the warning signs. Be on the lookout for the following:
- A request to send money to someone in need, even if you think you may know them
- Requests for personal information
- Requests for money up front, or in the form of prepaid money or gift cards
- Notification that you’ve won a contest that you never entered
- A refusal to put terms, conditions, or other information in writing
How can I prevent a scam? Being able to identify the signs of a scam is a great preventative step, but there are other ways that you can further ensure that you will not fall victim. The Federal Trade Commission suggests you take the following steps to prevent a scam:
Do your research. Have you been contacted by a company requesting you send them private information? Are you being asked to give money to a charitable organization? Many fraudulent businesses tend to use technology to their advantage; so it is important to look into the company that contacted you to see if it is legitimate. Never act immediately simply because you are being pressured to do so, and always take the time to ensure that you are dealing with a credible business or individual.
Be vigilant. Be consistent in checking your monthly bank and credit card statements. By doing this regularly, you will be much more likely to identify charges that you don’t recognize and act immediately to stop any fraudulent behavior.
Protect your information against Phishing. 
Phishing scams involve scammers sending a message, whether it be over email or text message, that aim to retrieve your personal information. The Federal Trade Commission explains that credible businesses will never ask you to send them your personal information in a way that isn’t secure. To avoid Phishing, it is best to avoid giving out your personal information to anyone in any situation if you are unsure that it is a secure transaction.
In addition to advice on how to protect yourself, the Office of the Ohio Attorney General also provides an up to date list of the most recent scams that Ohioans should be aware of.
What do I do if I think I’ve been scammed? If you think that you are the victim of a scam, you should report it. The Office of the Ohio Attorney General has created an online consumer complaint form to be used by those who have been victimized by a scam. They also offer a separate form to be used if you would like to report a scam that you have seen take place, but did not fall victim to.
You can also file a complaint with the Federal Trade Commission, and learn about how to minimize your identify theft risk.
Sources
The Office of the Ohio Attorney General
The Federal Trade Commission
