Since the beginning days of currency, when Egyptians were paid in a beer like liquid that was considered not only a currency, but a staple part of the average diet. These days, currency is a bit more complicated. However, as the financial system has evolved, so too have scams.
One of the larger scams that we're seeing more and more complaints about these days is telephone scams. One of the biggest of which surrounds binary options. Because binary options are a relatively new trading vehicle, con artists have started to use them as another way to scam innocent consumers. Often, these con artists will call unsuspecting victims, making big promises in hopes of getting that consumers' credit or banking information. Unfortunately, once the information is offered, money is stolen. However, there are clear ways to spot a scam before falling victim to them. One of the most important is understanding call centre techniques that scam brokers use. Below, we'll talk about the most common of these techniques.
Scam Call Centre Technique #1: The False Promise That Sounds Too Good To Be True
One of the first things that most scam brokers do when calling unsuspecting victims is make off of the wall false promises. Often times, these con-artists will tell you that you can make thousands of dollars per day with little to no effort. All you have to do is give them a few thousand dollars to start with.
The truth is that no one can guarantee a profit in the market. At the end of the day, no one can tell the future. If you are talking to someone that's telling you that you will make thousands with little to no effort, you're probably talking to a scam broker!
Scam Call Centre Technique #2: Time Is Of The Essence
Time has long been used in the sales process, whether selling a service or a product. However, con-artists tend to take this a bit further. They generally start off by explaining how lucky you are because they only have a few spots left. You have the unique opportunity to get in on these big gains, but if you don't do it within minutes, you'll miss your opportunity.
This kind of language is often used by con-artists because they know that if the victim thinks about the transaction too much, they will likely find holes and decide to hang up the phone. So, by confusing the consumer with limited time offers and pushing them to invest right now, they likely won't pay attention to the problems with the fake sales pitch.
The bottom line here is that you should never make a knee jerk decision with your money; especially over the phone. Instead, always end the call before making your decision. Think about what you're being offered and sleep on it. If it doesn't feel right, it could be a scam. Then again, most scams won't chase you down, if they can't pressure you to move right now, they move on to the next victim.
Scam Call Centre Technique #3: Avoid And Redirect
Another technique that scam call centres often use is known as avoid and redirect. This is done when anything is asked about verifying the validity of claims or even who the company is. For example, a scam broker will rarely give you a real address or phone number. If you point out a hole in their pitch, they will likely avoid answering the question. Instead of giving you real information, they often address the question with something like “I understand, but think about the profits you can make.” They then move onto a completely different topic, hoping to confuse their victim and redirect attention. Don't let this happen to you.
The Bottom Line
The bottom line is that if you pay close attention to what is being promised to you, the pressure or lack of pressure that's put on you to invest, and the responses when you ask for business information, you can avoid scams. Nonetheless, even if you get excited on the phone call, make sure never to make a knee jerk decision. Always take a day to think about any decision you make with your money.