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Avoid Being Scammed

Death_to_stock_photography_weekend_work (8 of 10)Recently, a Payne Wealth Partners client received an automated message from a number claiming to be from the Internal Revenue Service.  The message claimed that this individual was being sued by the IRS and should contact a number provided immediately.  Luckily in this case, the client was wise enough to be suspicious of such a call and notified their adviser of the situation before reaching back out to the number provided or giving out any personal information.  Upon further review it was uncovered that this was indeed, an attempt to “phish” information from the individual.

Unfortunately, according to the Federal Trade Commission’s October 29, 2014 report, in this day and age, scams like this one are all too commonplace.  An individual’s personal information can be a highly valuable commodity to the wrong type of people and scam artists are constantly looking for opportunities to take advantage of individuals in a variety of ways.  As con artists and disreputable companies become more sophisticated in their techniques, it is often difficult to know when attempts are being made to defraud individuals.  For this reason, it is important to know some basic steps to avoid becoming a victim of fraud.  The Federal Trade Commission has provided a helpful resource detailing some of these steps in the “10 Ways to Avoid Fraud”.

If you or someone you know has been experienced an attempt of fraud or loss due to fraud, simple steps can be taken to report incidents to the proper authorities.  Reaching out to local law enforcement can be helpful if you are uncertain how to proceed.  In addition, the following federal websites are a quick and easy means to report cases online:

http://www.stopfraud.gov/report.html;

https://www.treasury.gov/tigta/contact_report_scam.shtml

http://www.consumer.ftc.gov/

These current events are complex and ever changing. It is wise to work with a team of experienced professionals to help you make wise decisions today and in the future.

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Published: September 25, 2015

Authored by: Joshua R. Wichman, CFP®, MBA

Direct Phone: 812-602-6319

Email: jrwichman@paynewealthpartners.com

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The information in this material is only as current as the date indicted, and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. While all information prepared in this document is believed to be accurate, any statements of opinion constitute only current opinions of Payne Wealth Partners, Inc., which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. Accordingly, you should not put undue reliance on these statements.

Contact Our Offices

Payne Wealth Partners, Inc.
Keystone Financial Consulting
601 N Cross Pointe Blvd
Evansville, IN 47715
Phone: 812-477-6221
Toll Free: 888-477-6221
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