Published: October 07, 2008 09:19 pm         

Scams

With financial downturns, expect upsurge of shysters

It’s bound to happen. While Wall Street experts struggle to figure out how to keep Americans from losing more money, a whole new breed of criminals will be finding ways to bilk us all out of as much money as possible.

Expect a variety of new scams to appear, promising easy money, ways to protect your investments and fabulous new money-making ventures.

Some will come through your computer. We’ve all learned — hopefully — to avoid giving out any information from agencies claiming to represent our bank accounts. They’re scammers looking for our account numbers in hopes of cleaning out those accounts.

Some scams will come in the mail. Some may come on stationary that looks familiar. There may be bank emblems or logo on the letterhead. Check out any of these offers by calling your local bank. You will be protecting yourself and them. Local bankers need to know if the companies they represent are being used in fraudulent ways.

Other offers will come via telephone. The basic rule of thumb for all of these scams is the same — don’t give ANY personal information to anyone you don’t know. Telephone scams can be especially shrewd and convincing. You don’t know who’s on the other end of that line. Don’t take any chances.

Some of the regular scam artists may roll into your neighborhood offering to do cheap home repairs, resurface your driveway or paint your house. Unfortunately, there may be some folks honestly trying to earn extra money. However, it’s just not smart to have strangers hanging out around your home.

It’s hard for those of us who grew up in rural communities to learn to be wary of anyone we don’t know, but times have changed drastically and we all have to be more careful.

State Auditor Glen Gainer will be in Beckley on Oct. 16 to talk specifically to seniors about possible investment scams. The information he shares at the 11 a.m. meeting at the Raleigh County Commission on Aging will be beneficial to anyone who has investments. Information and education are our best weapons against those dishonest enough to try to prey on us at a vulnerable time in our economic history.

We all need to arm ourselves with as many facts as possible and learn to immediately question any offers that have come to us apart from our own banking or investment services.

It’s hard enough to hang on to money these days. We want to make sure we don’t hand any over to thieves in disguise.