Be wary of investment scams and online trading scams with these tips from Elyt ChargeBack

Elyt ChargeBack wants everyone to be on their guard and has put together a guide to help keep your bank account secure from scammers through three simple steps.

Scams can come in all shapes and sizes

As mentioned above, some people may try to scam you of $1,000, whereas others might try for $10,000,000 instead. When dealing with scams of this calibre, we can often expect to see schemes that include SBLC letters or what is known as the Bank Guarantee. One way to guard yourself against scams of any kind is to treat every opportunity as a scam. Go into it with a clear head, telling yourself that there is potential for a scam. Whether it’s online trading, forex, investment, SBLC, cryptocurrency investment. You can ask them straight up how can they prove that they are not a scam or what you can do to be reassured. A legitimate company will do their best to prove themselves, as will a scammer, but the only difference is, you can go to any branch to verify their claims, or call their official hotline.

If it’s too good to be true, it probably is

Everyone wants to luck out or earn a large amount of money in a short amount of time. It’s human nature, and scammers exploit this desire by enticing you with the idea of quick money. Online traders, investment brokers and forex brokers usually operate by allowing you to believe that you are making money by adding additional funds into your account, and convincing you to invest more in order to make even more. Legitimate brokers would never guarantee that you will make money off your investments and will ensure that you know all the risks involved. When it comes to the notorious Bank Guarantee scam, it works by selling bank guarantees which guarantee a high yield at the end of an annual contract. Much like SBLC, it is supposedly generated by a financial institution that will guarantee payment. However, there are plenty of fraudulent documents on the market and there’s no guarantee that the one you bought is authentic.

Always ask the authorities

When you’re purchasing a new smartphone or laptop, the only way to guarantee whether it’s authentic or not is to ask those in authoritative positions. This means going to authorized dealers, and when purchasing second-hand, opt to meet at authorized shops so that shopkeepers can help verify the authenticity of the product. Similarly, when you are given documentation to support some transaction, it would help to have the documents to be verified from authorized sources. Credible clients would be more than happy to oblige, but those that are looking out to make a quick buck off someone else’s misfortune will try their best to avoid a closer look from absolutely anyone.

When in doubt, Elyt ChargeBack, an agency specializing in the latest scams and a recovery company, welcomes everyone to seek a consultation.