Do you know how to recognize a financial scam?

2015-07-02T13:48:03-04:00

There are many different types of financial scams charity scams, lottery and sweepstakes scams, tax related identity theft, census fraud, pyramid schemes, telephone scams (a very popular one is where they call telling you there is a problem with your credit card and ask for your information so they can "verify" it it your account), and financial fraud to name a few. Do you know the tips to protect yourself, your financial future and your family? For tips on how to become more aware and protect yourself check out the following link.https://www.usa.gov/common-scams-frauds#item-211606

Common Scams and Frauds | USA.gov

Find information on common scams and frauds that can happen to you.

Response by LTC Private RallyPoint Member made Jul 2 at 2015 1:50 PM

2015-07-02T13:50:41-04:00

Great Post! Thank you for the heads up. If I ever have a question about a call, I try to get some details from the caller and then call the bank, or who ever it is directly and figure it out. They are not going to presure me into making an on the spot decision and give up important details.

Response by LTC John Shaw made Jul 2 at 2015 2:15 PM

2015-07-02T14:15:44-04:00

CPT Private RallyPoint Member You are on a roll! Another site to check and inform is your State site.
The USA.gov provides a convenient way to select your state AG.
For Ohio it is:
http://www.ohioattorneygeneral.gov

Response by SGT Craig Northacker made Jul 2 at 2015 2:18 PM

2015-07-02T14:18:08-04:00

Tell them you need to run it by your CPA first, and ask for their contact information. That gets rid of about 90% of them. Then, if it sounds too good to be true - it probably is. Google them, look who is behind the company, and look for any cases against them.

Response by SPC(P) Jay Heenan made Jul 2 at 2015 3:13 PM

2015-07-02T15:13:41-04:00

Always research and like most say, if it sounds to good to be true...probably is!

If it is a legit company, check the BBB as well.

Response by Capt Private RallyPoint Member made Jul 2 at 2015 3:33 PM

2015-07-02T15:33:51-04:00

I got a large check in the mail. I was to seek directions on how to cash the check, then cash it and send half of it back to the scammer to release the rest of my $250,000.

Of course scem was the check was bogus. Back demands full payment and the scammer take the half you mailed them.

Sounded tempting but the too good to be true prevailed.

ALSO legitimate things do not require you to pay to receive.

Response by PO2 William Smith made Jul 2 at 2015 5:10 PM

2015-07-02T17:10:14-04:00

I don't know about banks (I haven't used one since 1976) but credit unions have a wealth of info on scams and how to avoid them.

Response by 1SG Robert B. made Jul 3 at 2015 1:03 PM

2015-07-03T13:03:41-04:00

All leaders should know this, and it probably needs to be mandatory annual training, as opposed to junk like human trafficking. One of the agreements I used to have with my new Soldiers in their initial counseling was that they would speak to a member of the chain of command prior to the purchase of any item over 500$. I made it clear that I could not legally force them to do this, but it was more a mentoring point than a UCMJ one. I was able to save quite a few kids from a 25% interest rate car loan that they did not understand. With the new form of retirement coming into vogue, it is even more imperative that Soldiers are educated on finances on a regular basis. Part of the savings for the government with the new plan is that they count on Soldiers being irresponsible and not saving with the 401k like they should. It is a form of a predatory scam, and our Soldiers need to be thought how to maximize the benefit.

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2017-12-27T06:31:04-05:00

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