Beware These Popular Money Scams

March 23, 2012 by staff 

Beware These Popular Money Scams, If you’re one of the thousands of people who have received text messages telling you that you have won a $1000 gift card from Walmart or Best Buy, don’t get too excited, because it’s a scam. This is the latest example of “smishing,” which is sending a text message with the intention of stealing credit card or identity information. The message instructs the recipient to go to a web site and fill out a form to claim the prize.

Steve J. Bernas, president & CEO of the Better Business Bureau of Chicago and Northern Illinois, gave this warning, “This is not a legitimate offer and is not promoted nor sent by Best Buy or Wal-Mart. We strongly advise consumers to not complete the form or enter any personal information into the website provided.” Bernas added, “As consumers utilize their cell phones more and more to access the Internet, they need to guard against scams as they would on their home or office computers.”

The scam message may also instruct the cell phone user to call a toll-free number in order to complete a financial transaction. Instead, a bogus operator will get as much private information as possible out of the gullible caller.

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