Outsmarting the Con Artists:
Top 5 Ways to Avoid Scams!
First, as noted earlier, don't make financial decisions "under the ether."
Second, learn to spot persuasion tactics. Some of those used by con artists include promises that
this deal will make you rich, and assurances that
what you're about to buy is so scarce
you have to purchase it up immediately.
Shadel says another common tactic is to promise
there's a wealthy investor waiting in the wings
to snap up your purchases at a big mark-up.
Don't believe it, he says.
Next, Shadel advises, "Develop a refusal script." He says many potential investors have trouble hanging up
because they don't want to be rude to the
salesman on the other end of the phone.
Memorize and practice a simple line to
allow you to hang up quickly.
One of his suggestions: "I'm sorry.
This is not a good time. Thank you for calling."
Then make sure you put down the phone
before the salesman can get another word in.
Fourth, before you buy, check to see if the company is registered with the state or federal governments.
Are they licensed by the
Financial Industry Regulatory Authority (FINRA),
the Securities and Exchange Commission (SEC)
or state regulators?
Finally, beware if you're under financial stress at home or on the job. You are more likely to jump at the chance to make a quick buck.
Click HERE to read the entire ABCNews article on
Outsmarting the Con Artists:
Top 5 Ways to Avoid Scams!
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