How to Spot Financial Scams: Red Flags, Scripts, and Safe Habits

Protect your money with a checklist of scam signals and what to do if you’ve been targeted.

The most common scam patterns

• Urgency (“act now”), secrecy (“don’t tell anyone”), and pressure to pay in unusual ways (gift cards, crypto transfers).
• Impersonation of banks, government agencies, or well-known brands.

Red flags checklist

• They contact you unexpectedly and demand immediate action.
• They ask for passwords, one‑time codes, or remote access to your device.
• They threaten legal consequences or claim you’ve won money but must pay a ‘fee’ first.

Safe habits that block most scams

• Verify via official channels: call the number on your statement, not the one in the message.
• Use multi‑factor authentication and a password manager.
• Never share one‑time verification codes.

If you think you’ve been targeted

• Stop communicating, document details, and contact your bank/issuer.
• Change passwords and monitor accounts for unusual activity.

Next step

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Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice.