Personal finance is not just about how to save and invest for a better future. It’s also how not get cheated and losing lots of money. No choice but to keep reminding everyone of all the different scams which are happening today. Just hope to reduce these cases to the minimum because the scammers are getting ever more savvier. it used to be just on greed. Now they are also using the fact that it may just be our luck. That we were super lucky that very day. As you know, when you are super lucky on that day, it’s best to get the most returns from the same day. In brief, it becomes gambling… Latest case reported below.
Article in thestar.com.my a 70-something woman was shopping in a supermarket when she encountered a man who told her who told her that angpows were given out to shoppers. She was asked to choose and when the angpow was opened, she was told she had won several hundred ringgit in cash and reward points.
The woman was very happy and the scammer told her that she could double the amount if she bought more items at the supermarket. She believed him and went to withdraw her savings totalling more than RM150,000. She came back and the suspect told her to wait while he exchange those notes into smaller denominations so that it’s easier for her to use. The man did not come back and the woman lodged a police report.
Another case involved a Singaporean woman in her late 60s who lost almost RM900,000 after trying to buy a house in Skudai. For the purchase of the home, she issued several cheques to a real estate company and few months ago, she realised that the real estate company had been declared bankrupt and the bank has since seized the house and put it up for auction. She lodged a police report. For more details please refer: Article in thestar.com.my
Remind all our loved ones. Lucky draws? We were too lucky? Now, the scammers are trying to cheat us using emotions. It’s basically still greed but more importantly, it’s also because of ignorance. When more people know of these cases, they could even quickly report to the police and the scammer may have been caught much earlier. Without knowing, then the chances to catch them will be low. Stay vigilant everyone and when a deal is too good to be true, it usually is too good to be true. Happy understanding and sharing.
<Featured Image is courtesy of Stock Photos from Andrii Yalanskyi>
Next suggested article: Plain unlucky or simply no planning