Anytime someone asks for your bank account information, you should be cautious.
Are you in need of money?
Did you receive a letter with financial news too good to be true?
Chances are it is.
According to a recent woodtv.com article titled “88-year-old nearly scammed by fake lottery, warns others,” a prevalent scam involves fake foreign lottery winnings.
The letter came from Portugal and held stamps from the government.
The letter said the money would be wired to her bank account after having 5 percent given to a “promotions company.”
When the woman called her attorney about her financial appointment and mentioned the winnings, the paralegal warned her not to take action until the firm investigated.
The firm confirmed it was a scam.
These scams are not uncommon, and the often target the elderly.
How can you recognize whether you are being targeted?
The Federal Trade Commission gives advice on a few red flags.
What are they?
- It is a bulk mailing.
- A fee is required.
- You must wire money.
- A check sent to you must be deposited.
- They claim government affiliation.
- You are texted about a prize.
- You receive a call, even though you are on a No Call List.
- Others online complain about the scam.
If you desire to learn more, visit www.consumer.ftc.gov.
Educating yourself and being cautious will help protect you from similar scams.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: woodtv.com (June 30, 2017) “88-year-old nearly scammed by fake lottery, warns others”