Monday, October 7, 2019

How To Avoid Financial Fraud

How To Avoid Financial Fraud
Throughout life we sometimes have to overcome frustrations and obstacles. You can't have the rainbow without the rain, right? But some of those frustrations and obstacles are avoidable. I find those are probably the most irritating ones to go through because you blame yourself for not preventing them, especially when it comes to financial fraud.

Having your financial information targeted and utilized against you or for fraud purposes is something that so many people go through, unfortunately. It's hard to have to stop your life completely when mysterious charges appear, or when loans are being taken out in your name. After all, financial stability is the number one goal for most people who wish for any kind of quality of life, not to mention the time it takes to deal with it the issues of getting the charges taken off and getting cards cancelled and new ones issued and more!

While you should always contact your bank, the police, a financial watchdog or a lawyer if experiencing an issue like this (and for the most part will have the issue resolved), taking some steps to avoid this in the first place is a very smart idea. So I am sharing some tips today about how to help you avoid getting your identity and/or bank information stolen.

How To Avoid Financial Fraud
Use Trustpilot

Trustpilot is an effective website that helps you learn just how legitimate an online brand is before you shop with them. Not everyone can or wishes to shop with Amazon (however popular it may be), and so to find alternatives can sometimes be a hard task depending on what item you wish for. Using certain search engines such as Google Shopping cannot be perfect each and every time, sometimes leading to untrustworthy or insecure vendors. Trustpilot can give you rating out of five stars regarding how trustworthy a certain business is, and it can be important to pay heed to this should you wish for the best potential outcome.

How To Avoid Financial Fraud
Purchase Legitimately

It's also important to search for legitimate purchases where you can, as even pop-up stores selling counterfeit sunglasses can be a prospective fraud possibility. Additionally, only dealing with online retailers that have valid payment methods (services such as PayPal are a good sign) can show that you have a secure financial link. Just remember - if a deal seems too good to be true, it usually is. And the cheaper something is, the more likely you are to pay for it later, however that may be.

Check Your Statement

When your card information is taken advantage of, a prospective fraudster will try to move quickly to use your information in the quickest manner possible to avoid detection. This also means that the longer you leave it, the less chance you have of getting your money back or reporting the issue to the police well. Checking your statement each day, or every other day, and reporting or following up on questionable payments can be a truly important measure, potentially giving you the chance to catch issues as they happen. We try to do this and it has helped us find issues several times. Now we pay an annual fee for our bank to look into odd charges and sometimes have to pre-authorize purchases. But it's far easier to pre-authorize than to deal with the fall out of a fraud!
How To Avoid Financial Fraud

I hope this helps you avoid becoming a financial victim!

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