How to avoid roasting your bank account with the chestnuts
The winter holidays are coming, and a whole lot of money is flying around, buying presents and trips and meals and more. Is it all going to the right places? No, in short.
We'll put the philosophical discussion aside for now and focus on the purely transactional level, because people--especially older people--can end up spending money on things and getting nothing in return. Scammers can do a brisk business this time of year, and seniors are frequently targets.
Todd Rovak, the co-founder and CEO of a protective service called Carefull keeps an eye on the scam scene. He visits with an overview and tips on how to spend your money exactly how you intended.
His big hygiene tips:
- Don't be fooled by urgency. No one will ever need money or information to get your money SUDDENLY over the phone.
- Do NOT respond to message to "update your information," since no respectable business will make such a request. If the message says it's from the bank, call the bank and check.