How to protect yourself against scams.

You can reduce your chances of being swindled by knowing whom it is you are dealing with. This will help to protect you against getting involved with scam operators who set up companies, rack up debts then close up shop leaving their debts behind.

Keep these points in mind:

·Ask for the name of the person you are speaking to and whom they represent.

·Take notes of conversations, including dates, times, names and important points.

·Ask for an explanation of anything you don't understand.

·Read letters carefully and seek professional help (e.g. an accountant or a solicitor) if significant money, time or responsibilities are involved.

·If you want to check out the bona fides of a company, contact [Companies House or the Financial Services Authority].

·Find out whom you are dealing with. Independently verify any claims made by a sales person, investment adviser or advertisement.

·Make sure that any company you deal with complies with the applicable legislation. (In the UK, all companies must be registered with Companies House).

·Only do business with companies you know and trust.

·Make sure you fully understand all the terms and conditions of any offer made to you.

·Take your time before you make any decision.

·Don't provide any financial or other personal information before you establish whether the company is legitimate.

·Understand and monitor your investments and ask frequent questions and map out your financial goals before you meet with a financial planner.

·Don't judge the credibility of a company or sales person by how 'professional' they or their promotional material or web site seems.

·Don't fall for high-pressure sales tactics.

·Don't let embarrassment or fear keep you from reporting fraud or abuse to the appropriate authorities.

·Don't ever be afraid to ask questions. In fact, the more questions you ask, the better.
In all situations, the old maxim applies,
"If it sounds too good to be true - it probably is"!

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