How to Avoid being Ripped Off

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Despite numerous guidelines and information available many people are prone to getting ripped off financially through fraudulent activity schemes and other scams. By understanding the main reasons for this and the common scams that are prevailing on the market you can be alert and make yourself less susceptible to being a victim. It was noticed that many people realize their loss too late that has to be avoided in order to lead the normal progress of the business. Here are some common financial rip-offs listed below that have to be picked up on:

Embezzlement: It is a financial fraud that is also known as larceny that is performed through illegal usage of funds by the person who is responsible for controlling them. Like a cashier of a company using the company’s money for personal requirements. However, many of these issues are not likely to have much publicity as the business people are already embarrassed with the situation, so they usually prefer to settle the issue in private rather than facing public scrutiny.

Scams through Brokerage: This kind of scam ranges from outright fraud to promotions where the unauthorized trading is performed by the customer accounts; many people have been the victims of such financial rip-offs.

Skimming: This is the method in which the employees of the organization take away the customer cash and make use of it for their personal needs, failing to enter the cash details into the revenue database. As there are no details regarding the cash deposit the higher authority think that there is no such fraud occurrence.

Fake sales: Such situations occur when people have a fake sale strategy such as selling antique gold coins that are duplicated and have no value on the market; but people buy them for the higher prices.

Web scams: As internet usage is growing rapidly, the range for hacking and stealing all your personal information is increasing. The stolen data is utilised in operating the bank accounts of the users and making money out of them.

Solutions to get rid of these situations

1. Insurance policy: You can simply get your assets insured in order to gain money that can be utilized in covering the expenses of the assets.

2. Payday loans: Through payday loans you get instant cash approval that supports you in meeting your miscellaneous needs.

3. Expert’s advice: Make use of expert advice before you take any decisions that may risk the safety of your cash.


About the Author:

Alicia is a financial  blogger from Manchester, UK.  Find out more about her finance related blogs at financeport



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