Don’t Get Scammed when Transferring Money to India

There are many people who still fall prey to money transfer scams. Most people who lose money to scams are victims of advance fee or money transfer frauds. Often, old people or vulnerable people are targeted by conmen.

So how do these scams work?

The victim may get an unsolicited phone call or receive an email or text in their inbox from some random person. This person notifies them that they have won a lot of money. Here, the scammer tries to gain the trust of the victim, asking him/her to send a small sum of money in order to collect their winning amount. This small sum is usually asked for paying the taxes or processing fees. This is where the conman tries to scam the victim. If the victim ends up sending the money, he/she never hears from the conman again.

At times, the victim receives an unsolicited cheque or money order. It comes with directions to deposit the money or make a wire transfer in order to cover the taxes and processing fees. When the victim deposits the cheque, he/she gets to learn weeks later that the cheque was counterfeit. But since he/she has already wired the money to the conman, getting it back becomes impossible.

There are a few tips that you can follow if you wish to save yourself from getting scammed. Remember, if something sounds too good to be true, then it probably isn’t. Don’t be in a rush to send the requested funds in order to get the winnings. Always take your time in finding out the details. This will save you from wasting money. For instance, ask yourself, is there a chance that you may have been specially chosen for this kind of offer? If the answer is no, then you’re probably on the right track.

When transferring money to India or any other country, it is always best to go with a bank or a reputed money transfer agency.

To know more about fraud awareness, check out Remit2India’s fraud awareness page.

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