How to Avoid a Scam: 7 Simple Ways to Protect Your Money

These days, it’s important to know how to spot a scam so you can avoid it. Scams are everywhere, and scammers are getting more creative in finding ways to trick people. Usually, they pretend to be legitimate companies, or use fake financial transactions to deceive you. Keeping your finances secure is a priority, so we’ve listed 7 simple tips to help you keep your money safe from scams. 

7 Easy Ways to Protect Yourself from Scams

1. Watch Out for Upfront Fees

If someone asks for money before providing a service, it’s probably a scam. Real companies, like SB Finance, don’t ask for fees upfront. Always check through official websites or contact the company directly to avoid scams. 

2. Be Careful of Fake Lenders

Scammers often target people looking for loans. They might ask for fees before giving you a loan. Remember, real lenders don’t do this. 

Always confirm the identity of callers claiming to be from legitimate organizations before providing any personal information or engaging in financial transactions.Scammers may pose as banks or loan providers to deceive you. If something feels wrong, it could be a scam. Report it right away. 

3. Use Official Websites Only

To avoid scams, only use official websites that are secure and trusted for applications. Avoid links from spam e-mails or messages because scammers often use fake links to trick you. Scammers can also create fake websites that look real so always double-check the website before entering your information. Use official sources to verify the site, and avoid falling for a scam. 

4. Know The Official Payment Channels

Make sure to check and know the official modes of payment for your transactions. If someone asks you to make payments outside these official channels, it could be a scam. 

For example, if you’re paying your loan’s monthly repayments, ensure you’re paying through your lender’s official payment channel. At SB Finance, we’ve listed the official modes of payment in our website and our Facebook page to prevent our customers’ money from falling into the hands of scammers.

5. Be Cautious With Payments 

Make sure to double-check that you’re paying the correct amount to the right recipient with the correct details to prevent losing your money. Scammers often provide a different payment method, such as their own GCash number or bank account. If you notice that the recipient’s name is different or suspicious, verify the account to avoid sending money to the wrong person or to a scammer. 

6. Take Your Time

Scammers often try to rush you into making decisions or even resort to threats. Don’t hurry or panic. Take your time to verify the information, and make sure everything is legitimate to avoid being scammed.

7. Keep Sensitive Information Safe

Always be cautious when sharing sensitive details. Protecting your personal and sensitive information is vital to avoid identity theft and financial fraud. Be wary of phishing attempts through unsolicited emails or calls asking for information like your one-time PIN (OTP), account details, passwords, and personal information. 

Stay Informed and Safe from Scams 

While knowing about scams can help you avoid them, it is also important to regularly monitor your accounts for any unauthorized activity to catch potential fraud early. 

To report any suspicious activities related to SB Finance, reach out to our Customer Service Hotline from 8:30AM-5:30PM, Mondays-Fridays (except holidays) at (+632) 8887-9188 or [email protected].

Share these tips with your friends and family to help keep everyone safe. 

Scroll to Top