Seniors Network

People who've been scammed often knew that what they were being offered was too good to be true - they just managed to temporarily convince themselves otherwise. Be assured that if something you're offered seems too good to be true, it is. Take a moment, step back - and if that inner voice is telling you "this is too good to be true" - do more than take a step back - walk away.

A lot of scams will demand that you act today.

They'll often use high pressure sales tactics like claiming that if you don't take action (i.e. give them lots of money) today, your price will increase hugely or your return will plummet horribly. Remember that any reputable business will be perfectly comfortable with you taking time to think about their offer.

Many scams have large fees that you have to pay when you join them (often "membership" fees).

Be very careful before sending or giving away money. These kinds of scams can appear very professional, but are often no more than a pyramid (you pay someone £100, then you have to find 3 people to pay you £100, then they do the same). Given that pyramid schemes need an ever increasing number of suckers in order to continue, they always fall over - leaving everyone except the couple of people at the top of the pyramid very unhappy.

Watch out for too much sales talk.

"Secret", "risk-free", "fool-proof", "opportunity for anyone", "make a killing". All investments carry some kind of risk - and the higher the potential reward, usually the higher the level of risk - so avoid anyone who tries to tell you about a guaranteed risk-free way to make a pile of cash. Especially if they are also claiming it's a "secret".

"This is legal".

Three words that should have you hiding your wallet. You'd be surprised how many scams actually keep stating this - and at how many people fall for it. If this sentence keeps cropping up, you are about to be taken for a ride.

Scam artists will often claim that anyone who disagrees with them is a "negative thinker".

This is quick and easy way for a scam artist to avoid looking at facts or answering questions. All they have to do is quickly accuse anyone who asks a difficult or critical question of being a "negative thinker" and they don't have to actually answer the person's question or address their concern. Watch out for this tactic - it's very common.