Learn How to Protect Yourself in the New Year
By Saghir A. Aslam
Rawalpindi, Pakistan
(The following information is provided solely to educate the Muslim community about investing and financial planning. It is hoped that the Ummah will benefit from this effort through greater financial empowerment, enabling the community to live in security and dignity and fulfill their religious and moral obligations towards charitable activities)
Protecting your personal financial information and money is important to you. I want to share with you and provide you the information and tools to protect yourself and avoid possible fraud and scam.
What's happening
A fraudster can contact you any time of the year by text message, phone, or email, and they may even impersonate a reputable organization. They may ask for your personal financial information, access to your computer, or for a passcode. They may tell you that they've noticed suspicious activity, such as money being sent from your account to another account, and ask you to send money to yourself using Zelle ® to "reverse" the payment.
This particular scam is on the rise and is referred to as the "Pay Yourself" scam. These are just some examples of how fraudsters will try to obtain your personal financial information or scam you, but you can take steps to protect yourself.
What you can do
- Do not share your PIN, passcode, text message code, or any other access information to your accounts with anyone who requests it.
- You should know your reputable organization (Brokerage House)
- Don't rely on caller ID. Scammers can make calls and texts look like they're coming from reputable organization (Brokerage House)
- If you feel uncomfortable or suspicious with any request you receive by phone, text, or email, hang up or don't respond. Reach out to your (Brokerage House).
There are so many different ways for the scam people that it is unbelievable, the best thing we should do is to be extremely careful. I’m sure all of you get a different kind of scam call, So do I. We just have to remind ourselves that there are a lot of these big scam people out there, We must be alert, we must be careful, we must not give out our information. We know that our brokerage firms do not ask us these questions. I’m sure it is true for you also that you have a person that you work with and he or she is the only one that you should answer to. Anyone else asking any questions pretending to be from your company from your brokerage firm just ignore them. All of us just have to be very suspicious; don’t answer any questions; don’t fall into their stories. It is important for all of us to protect ourselves and be extra careful. They have so many different ways, so many different lines, different ways to approach, different stories, anything and everything to get your attention that they are here to help you but we know that’s not the case. They are helping themselves. I will repeat again what I said before: let’s try to be very careful and avoid answering any questions unless you know a person That’s the best protection all of us can have.
( Saghir A. Aslam only explains strategies and formulas that he has been using. He is merely providing information, and NO ADVICE is given. Mr Aslam does not endorse or recommend any broker, brokerage firm, or any investment at all, nor does he suggest that anyone will earn a profit when or if they purchase stocks, bonds or any other investments. All stocks or investment vehicles mentioned are for illustrative purposes only. Mr Aslam is not an attorney, accountant, real estate broker, stockbroker, investment advisor, or certified financial planner. Mr Aslam does not have anything for sale.)
