Scammers are getting really sophisticated by the day. The scammer is always inventing and strategizing. They seem to always be ahead of us good folk. No matter! We can still take steps to secure ourselves from these blood suckers. Below are some general guiding tips to help us make informed decisions

Telltale Sign of a Possible Scam: Use your Common Sense and Instincts!

1: Deal is always too good to be true: Noticeable sign of a scam is that the scammer presents it as being cheap, easy to get etc. there is always a catch. Stay away IF THE DEAL IS TOO GOOD TO BE TRUE. could be a car, a recharge car, a data bundle, machinery, etc.

2: Hurry up and Pay now: The scammer would always want to prey on your anxiety, your fear. Because the scammer knows that the deal is cheap, they try to make sure you pay up. The trick is to make you believe you would lose something.

3: Demands upfront payment: The scammer would most always ask that you pay all or pay upfront. Usually half the price.

4: No specific business location: Some scammers do not have specific business address or location. even if they do, it would be fake. You could ask here on NL if someone is familiar with that address or that business.

5: No Corporate Bank Account: Usually a personal bank account. The scammer might tell you he is a freelancer as the reason for not having a corporate Bank account. Don't fall for this bull! I have been there before.

6: Name of Scammer sometimes does not match Account Name: Be very vigilant if the scammer gives you a different account from his/her name. Real red flag

7: Pay half now, pay half on delivery: This is a good trick aimed at making sure that you part with at least some money. For the scammer, it does not matter, as long as he gets something. Never pay up without seeing your goods.

8: Calls to ask if you have paid the money: The scammer could call you at odd hours, could call you every minute or every hour. Job related scammers have been known to do this all the time. Anyone that calls you up to make a payment is likely not legit.

9: Pay for training: Job related scammers would tell you to pay for training. Some would even ask you pay, even 1k.

10. Pay a sum of money to secure a bigger, better job: For e.g. they would tell you the job pays 200k, but you need to pay 45k to secure it.

11: No visible business location: Every legitimate business should have a location; it does not matter if you run it from your house, your basement or the garage.

Rules to help Minimize Risks: Never Ever be Greedy, Greed leads to scams!

Rule 1: Be very patient: Never be too much in hurry to close a deal. The scammer is counting on this. His trick is to make sure he creates anxiety on your mind.

Rule 2: Due Diligence: Please research the person with whom you intent deal. Goggle his name, phone number

Rule 3: Search on Nairaland. The search box on nairaland is there for a reason. Search user names, phone numbers, etc. If the scammer operates on NL, you would know.

Rule 4: Open a thread on nairaland about the person: This would solicit feedback from good nairalanders. Someone on NL may have good information about that person.

Rule 5: Ask for Facebook / Business Page: I know some scammers have Facebook pages, asking for one would help you make informed decision.

Rule 6: Demand a Corporate Account: Always demand a corporate Bank account. It is more Trust worthy than individual account

Rule 7: Always demand for CAC registration number: I know some scammers have taken the pain to register scamming enterprises. Still, asking for CAC registration number would help you quickly make up your mind. You can always place a call to CAC to confirm.

Rule 8: Never Pay Upfront: Unless you established a business relationship.

Rule 9: Pay on delivery: Even better, ask to foot the transportation bill.

Rule 10: Offer to Pick up the Goods Personally: If Rule 8 does not work. This always works, in my experience.

Rule 11: Run a Bank Check: Call up the bank, ask them to confirm the account number. They may be reluctant to reveal other information due banking policy. Sometimes you may be lucky to get some good information.

Rule 12: Stay Away from Pyramid Schemes: NO NO NO!


This is not exhaustive. Please Add yours and transact safely!

Ok, great insight from Insightz

@Lordtrillion

Play on words, play on

Front page worthy... lalasticala

Nice writeup @Insightz

Cc: lalasticlala, Mynd44, dominique

Thanks @Adesiji77

Thanks Noted.

e

NICE 1

Good good stop beheading ppl please

That pyramid stuff... That's like the only thing that can make me lose my 'gentleman cool'

Don't be greedy. Awoof run belle. Some people look for extra cheap things which make them victim of fraud compulsorily at all cost

W

This is really helpful. We'll chase dem down. From yahoo rats to 419 pests.

Our hard earned can't sink into d hands of some impatient, covetours, lazy n dirty squirrel set of people. Only if we are very carefully screen our deals and ignore every offer with an unrealistic margin.

God bless real people hustlings.

VocalWalls:
That pyramid stuff... That's like the only thing that can make me lose my 'gentleman cool'

I feel you. Still, some people fall for the same trick over and over again

arofemites:
This is really helpful. We'll chase dem down. From yahoo rats to 419 pests.

Our hard earned can't sink into d hands of some impatient, covetours, lazy n dirty squirrel set of people. Only if we are very carefully screen our deals and ignore every offer with an unrealistic margin.

God bless real people hustlings.

I like your spirit. We cant just fold our hands and wait for miracle.

May God bless our Handiwork

There's nothing wrong with network marketing. Just find the right one that everyone can join.Am on four corners alliance and I can tell its not a scam.

Them go still catch some pple

This is nice. Greedy and inpatients is all that the scammer need to succeed. You are warn

Ralphdan:
Them go still catch some pple

True dat. We just need to sensitize each other to make informed decisions

Best thread this week...

9ice

Nice one OP. Above all, dont be greedy. All my life, all the related scams stories have read or witnessed even on nairaland. Its mostly the fault of people and not scammer. Someone recently got scammed. Buying paypal fund at the rate of #250. Even banks doesnt sell #250.
If i should give you that rate. Arent u supposed to be afraid. They wont!

Internet biz isnt for greedy people. When u're greedy. You'll surely be scammed cos there will always be scammer. Ur own is not to be greedy not to fall victim. All the best.

Great list

Insightz:


I feel you. Still, some people fall for the same trick over and over again

How does the pyramid stuff work

Ok. Will be back

This is an excellent post

missKiffy:

How does the pyramid stuff work

A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
e.g GNLD, Bank targets and co etc

missKiffy:

How does the pyramid stuff work

it goes this way: Someone comes to you and tells you about this nice business or proposal. The aim is for you to make money. However, you have to register through him. You either buy something or part with some money. Now, for you to make money, you have to sell the same idea to someone to register through. Thus, you have successfully created a pyramid scheme. The money you pay is used to pay those at the top of the pyramid, supposedly.

It is called ponzi scheme, network marketing, etc.

It is one of the oldest money scams in the book. Steal from Peter to pay Paul.

Very Nice post.