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Avoiding Financial Scams

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If the deal sounds too good to be true, it probably is. This guide is about avoiding financial scams.


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By 3 found this helpful
November 18, 2010

This morning I was awakened by a telephone caller who politely asked "Mr. X please? May I speak to X?" I replied "Yes, this is he; who is this?" She said: "You need to verify that this is X first; please tell me the last 4 numbers of your Social Security!" "WHAT?" She repeated the request and I again asked her who she was and only got the same request to disclose my 'last 4'. At which point I told her that she was absolutely crazy and told her to send me a letter.

BEWARE! The scammers are really cranking it up early for Christmas!

By Cajun from Collinsville

Comment Was this helpful? 3

September 20, 2010

With the vast of spam/scam/viruses out there, sometimes you get bad messages that appears to be real. Always remember, no real message will ask for any of your private information. You created the passwords and logon when you signed up with a website, so you don't need to send them to them.


Do not click to open/read suspicious messages, this can open viruses. One quick way to figure things out is hit reply. Look at the email address. All real messages from those you have a connection with can be visually verified by checking the return email address. If it does not match known address, forward the whole email to their place of businesses. All banks, retail, etc have a theft address. Go to the web page and at the bottom there will be a link to CONTACT US. Fill out the form or follow their instructions.

It is important that you follow through even if you have updates daily. I use Norton Internet Security and there are daily updates against fraud. Also make sure your ISP has their detectors up and running, but understand what they do is not a total security. You must have your own fire walls and security up. My desktop has a different one than my laptop does.


By Joyce from Benson, MN

Comment Was this helpful? 4

By 0 found this helpful
November 20, 2007

You shouldn't have to cough up cash to be able to work for a company. Start-up investments are for the birds. Any company that askes you to make a "donation" or "investment" is scamming you. It's that simple.

By hAyLeY mIcHeLLe

Comment Was this helpful? Yes

JSRS0 found this helpful
January 3, 2004

I just have to write to let everyone know that I'm so tired of getting phone calls from people pretending to be from the law asking for money...My husband is a deputy sheriff an I know first hand they do NOT ever ask for money over the phone. So many people thinking these phone calls are on the up an up an give their hard earned money to these "people" are just plain taken from these scams...there are so many scams out there any more its terrible.


Please do everyone a favor an address this issue ... It just makes me so mad that these people will take money, or even worse they ask for people credit card numbers, ect. People think that just because these people say they are with any law agancy thats its ok...its NOT. Thank you.

Comment Was this helpful? Yes

July 24, 20060 found this helpful

According to USTelecoms Crossroads Express July 17, 2006 issue, A new telephony-based version of "phishing" dubbed "vishing" has evolved from traditional Web-based phishing scams. The new technique has been used by criminals to collect details from credit cards, including the three-digit CVV security code, expiration date and account number. "Vishing" scams usually begin when the criminal gets a cheap and easily available VoIP number and then configures an automated dialing system to call people. When the call is answered, an automated recording alerts the person that his or her credit card has been compromised and the consumer should call a phone number immediately to correct the problem. The phone number is often a toll-free number with a spoofed caller ID of a legitimate financial company.


A computer-generated voice then instructs listeners to enter their 16-digit credit card number, expiration dates and verification codes. Once this information is entered, the "visher" has the information necessary to place fraudulent charges on the consumer's card. Never call a telephone number provided in a phone call or an e-mail regarding possible security issues with a credit card or bank account. Only the phone number on the back of a credit card or bank statement is a valid number to discuss credit card account information.

Take note of the telephone number and call your credit card company directly, then if it was a scam, call your State's attorney or Attorney General and report this call.

As with phishing where they send you an email with a link that looks like the bank, credit card company, eBay or Paypal, never use a link in an email to login to these sites. Go to them directly. If you need to contact a credit card company by phone, use the phone number on your billing statement or the back of your credit card.

Comment Was this helpful? Yes

Staff0 found this helpful
January 23, 2004

We received an email today that some of you may receive. We have many spam filters in place and this one made it through. The subject is "Important News About Your Bank Account." Because the address it was sent to has no relation to a bank account I was suspicious. It claims that in cooperation with the Office of Homeland Security FDIC insurance has been denied to our the bank account.


I went to the normal SCAM sites and didn't see this one listed so I went to the FDIC website. Here is what they say:

"WARNING! Fraudulent e-mails purportedly from the FDIC are circulating. Do not respond to any requests for personal account information. See Special Alert."

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Ask a QuestionHere are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community or ask a new question.

By 0 found this helpful
March 11, 2010

Can a company like Utility Management Association be a scam? I wonder, because in fact they got financing from companies like GE and Wells Fargo.

By Daniel from Lenoir, NC


March 11, 20100 found this helpful

I'd call the BBB (better business bureau)and ask if any complaints have been filed against them.

Reply Was this helpful? Yes
March 11, 20100 found this helpful

First off I have never heard of them. If you go to and put in "Utility Management Association" the first thing that comes up is a complaint...even before the link for their official site. On their official site on the left is a link for them being in good standing with "Online Business Bureau"...never heard of that and it comes up with complaints/scam. Looked up UMA on the BBB site and they aren't accredited through them at all. … l?compid=3000954

On any business if you google the name of company then add: scam or complaints or review etc it should give you a good idea of how they stand. When typing UMA's name into google search box before I even finished typing the auto complete had already suggested scam, BBB so apparently others are having the same questions about them.

Reply Was this helpful? Yes
March 15, 20100 found this helpful

Call your state's Public Service Commission. We had a scam in our state a few years ago with one of the natural gas providers. The other company who enrolled people for lower rates were scammers, and they worked out a deal with our local provider.

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