National Consumer Protection Week (NCPW), held this year on March 6-12, is an annual effort led by the US Federal Trade Commission to educate the public on how to use their money wisely. As a part of NCPW, BBB recommended five easy steps you can take to become a smart shopper and savvy consumer.
“In a tough economy, it’s more important than ever to protect the money you have from scammers and bad businesses,” said Stephen A. Cox, President and CEO of the Council of Better Business Bureaus. “A few simple steps will go a long way to avoiding the common cons and rip-offs that deceive hundreds of thousands of unsuspecting consumers every year.”
BBB recommends the five following tips to protect your wallet against scammers and unscrupulous businesses:Get everything in writing and always read the fine print.
Contracts, customer agreements and fine print protect businesses and outline the terms of the agreement with customers. But, a savvy consumer should always ask questions and read the agreements thoroughly. While it’s natural to want to avoid reading the legalese, it’s important that customers understand their rights. Whenever signing a contract, BBB recommends reading the fine print carefully—even if it means taking it home to evaluate it further. Also, don’t just take sales associates’ word for it; get all verbal promises in writing. And, be certain to ask for a sales receipt.
Protect your identity—and your pocketbook.
Fighting identity theft means staying vigilant online and off. Protect your identity by taking the following steps:
Never wire money to someone you don’t know.
- Always shred sensitive documents that include personal financial information such as bank, credit card and Social Security numbers.
- Monitor your financial accounts closely to more quickly detect suspicious activity.
- Make sure your computer has up-to-date anti-virus software and be extremely selective when opening attachments or clicking on links in emails.
- Shop online through secure sites only and always confirm that the business is trustworthy before entering your credit or debit card number.
Many scams bilk victims by convincing them to wire money. The reasons for wiring the money can vary and include mystery shopping, paying fees to win a lottery, and—if the target is a small business owner—overpayment for goods or services. Scammers know it’s extremely difficult to track money sent via MoneyGram or Western Union. More troubling for victims is the fact that it’s nearly impossible to get your money back. Even if you’ve been given a check to supposedly cover the amount you’re wiring, never send money to someone you don’t know personally.Know where to complain.
If you’ve been ripped off by a business, there are any number of organizations and government agencies that want to hear about it. You can file a complaint with:
If you’ve been ripped off by a scam online—such as a phishing email or deceptive website—you can also file a complaint with the Internet Crime Complaint Center
.Always check businesses out with BBB.
Nearly 400,000 businesses bear the BBB seal of accreditation and meet our standards; you can find the seal on websites and at business locations. However, BBB doesn’t just report on accredited businesses. You can check out BBB Business Reviews for nearly 4 million businesses across North America for free by visiting www.bbb.org/us/Find-Business-Reviews/. A BBB Business Review will tell you how many complaints the company has received, whether the company responds to complaints and much more.
For more advice on managing your money and avoiding scams, visit www.bbb.org/us/Consumer-Tips/.
For more information on the Direct Selling Association Code of Ethics, visit http://dsa.org/ethics/.