Scam is a crime that involves misrepresentation and deception to be able to make money. It could include padding insurance claims, making fake credit cards or making false claims to receive loans you would not otherwise have received. Scam is all around you, thus you should always be careful when it comes to transactions that involve money.

Scam costs hundreds of millions every year in damages and affects thousands of people as well. Sadly, nobody is completely safe from being scammed. However, being able to recognize it could protect you and your finances. Today, with more and more people switching to online banking and paying bills online, it would be a good idea to determine what scam  is so  that you could find ways to protect yourself from scammers lurking on the web.

Scammers think that they can find fast-profit in shortcuts, thus they deceive people. It is of vital importance to educate yourself and learn from everything that comes your way so you will not fall prey to these unscrupulous people. Keep in mind that scammers pray on the naïve, so you better be careful. When somebody offers you a deal that appear too good to be true, don’t give in right away. Double check and determine if it is really legitimate.