There are thousands of people who become victims of phone scams every year. Individuals can lose just a few dollars to these scams, or they can lose their entire life savings. Scammers are in the business of cheating people out of their money. They usually sound friendly, call you by your first name, make some small talk, and perhaps ask about your family. Sometimes they claim to work for a company you have trusted previously or send ads that ask you to call them. It is easy to recognize a scam when someone you don’t know is asking for your credit card information or for your social security number. No legitimate business usually does that. But there are many signs of a scam.

Common Signs You are Being Scammed

Many times scammers who call you on the phone do not want you to have enough time to really think about what they are saying to you. They just want to trick you into saying “yes.” Some scammers are so good at it that they can make you think they are happy to give you more information when you ask. They may try to send you to a website or send you information on some of their “satisfied customers.” They are usually fake reviews and fake people who are made up solely to deceive you.

There are some sayings that are commonly heard from scam artists. If you hear phrases like these you should tell them “no thank you” immediately, hang up and then file a formal complaint with the FTC:

  • You’ve been specially selected….for an offer
  • You’ll get a free bonus when you buy a product
  • You’re the winner of five very valuable prizes
  • You have won money in a foreign lottery
  • It’s a low risk investment that provides huge returns
  • You have to decide now
  • You don’t need to check our company out
  • We are just putting the charges for shipping and handling on your credit card

You can join the national Do-Not-Call registry which will stop most unsolicited or unwanted calls.