VIDEO: Every Trick Scammers Use To Take Your Money

Written by Andy Wise on August 7, 2020. Posted in Wise Advice.

I rarely share a video that’s not one of mine. This one’s too helpful, too important. It’s a must-watch. (photo courtesy: Bolt Statistics)

It’s a Federal Trade Commission (FTC)-produced video. The agency originally shared it on its YouTube channel in 2018. I subscribe to the channel, but never stumbled on to it until the agency sent me a release this week with the video’s link.

It runs just shy of two minutes, and after a slow start, it kicks in with a visually effective demonstration of the go-to methods scammers most often use to trick consumers out of their money — from money transfers to gift cards. “In a way that makes it hard to trace them and hard for you to get your money back,” says the FTC’s Midwest Region Director Todd Kossow at the beginning of the clip. “Once you know them, you’ll know how to spot a scam, and you’ll know to be careful if someone asks you to pay that way.”

You’ll be smarter — and safer — less than two minutes from now if you take a moment to watch THIS.

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