Money Transfer Scam: Money transfer scam has become a big issue nowadays. Many people are becoming victims of this type of fraud, due to which their hard-earned money is lost in one go. In this article we will know how these scams work and what are the ways to avoid them.
How does money transfer scam work?
Scammers often contact via social media, email or phone calls. They present themselves as representatives of some bank or reputed institution. Scammers then convince people that they have received a special offer or prize. For this they ask them to transfer some money.
They send fake links, which look similar to the real bank’s website. People click on these and share their personal information and bank details.
Scammers often make the excuse of an emergency, such as an urgent need for money to help a relative. It forces people to take decisions faster.
ways to avoid
- Always verify information before any financial transaction. Contact the bank or institution directly.
- Avoid clicking on any unknown link. Always check the URL.
- Do not share your bank details or personal information with any unknown person.
- If an offer seems too good, question its authenticity. Scammers often offer “just for you” offers.
- Install antivirus software and firewall on your device.
- Along with this, do not pick up calls coming from any unknown number. Scammers sometimes try to reach people from different numbers.
- By adopting these precautions you can avoid money transfer scams.
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