The Update

Beware Of Inheritance Scams!

Who doesn’t dream of becoming an instant millionaire? You might even have some detailed plans for how you’d spend an unexpected windfall if it were to happen. Imagine if a distant relative who’d been rolling in the stuff suddenly passed on and left you as their sole heir. Your dreams could now become a reality! Wouldn’t you do anything to make that happen?

Unfortunately, there is no inheritance involved; just a crooked scam. If you answer an email stating you’ve inherited money from a long-lost relative, scammers will start charging you various fees which will gradually increase in size. Next, they’ll ask for your checking account information so they can transfer the millions of dollars supposedly coming to you.

Sharing this information will open you to more loss or identity theft. Once the scammers have this information, you’ll never hear from them again. Be on the lookout for these warning signs to help protect yourself from becoming the next victim of inheritance fraud:

The Initial Email

The email itself is a red flag. You’ll never be contacted by email regarding a matter of this magnitude. Secondly, the email’s wording will be riddled with typos. Third, if the contact’s email address uses a public domain, such as @gmail.com, be cautious. Banks and reputable law firms use their own domains.

Personal Documents

Is the “lawyer” sharing his own personal documents? This is a huge red alert. Nobody, especially a bank official or lawyer, would ever share personal documents with a stranger. Certainly it would not be shared online or by email. Never give account details or copies of personal documents to a stranger, especially over the internet.

Bogus Bank

Never agree to make an overseas payment to a stranger via money order, wire transfer, pre-paid debit card or electronic currency. Once these transactions have been made, it’s nearly impossible to recover the funds.

Have you been scammed? Remember to contact and your credit card companies immediately to minimize damage. Also, be aware that you are now a likely target of other fraud, as fraudsters commonly share details about their victims.

Know your Benefits- Stay Safe With RGCU

Inheritance fraud is on the rise—and it often comes with stolen identities. With your RGCU Debit Card, you’re covered: if your identity is stolen, you could be reimbursed for recovery costs up to $5,000.